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- Recently, Bitfinex listed CNHT.
- TRON DAO announced to join Enterprise Ethereum Alliance (EEA)
- A report revealed Hackathon winners.
The last week of 2022 has brought laurels for the holders of Tron (TRX). It has been listed and traded on over 130 digital asset exchanges. The TRON DAO has announced that it has joined EEA. its founder Justin Sun said, “TRON and Ethereum have grown and matured together over the years. We want this affiliation to be a step forward for the industry.” These new updates already lit up the eyes of the holders, but to add a little extra bling, Crypto Daily published a report to reveal the winners of the TRON Hackathon 2022 Season 3.
The celebration did not end there. As per the tweet, Bitfinex has listed the CNHT, a TRON-based stablecoin pegged to offshore Chinese yuan, which Tether announced to launch for a 1:1 ratio.
The pictorial
The TRX prices have formed a pennant pattern for the past 2 months, with current action taking place at the deep end of the channel. A bullish crossover (red circle) can be observed, reflecting a chance of a surge in the near term. With an aim to surpass the 100 and 200 EMAs, a bullish outlook can be formed if current prices of $0.054 can sustain past the $0.055. The predicted price rally can reach up to $ $0.07, respecting the previous swing. A combination of volume and OBV support the above notion and signals green.
The indicators suggest an uptick in prices. The CMF holds a spot in the positive zone above the baseline, indicating the upsurge is about to come. The MACD records active selling and rising interest in both parties. The RSI moves near the 50-mark average and displays neutral signs.
Deeper dive
The smaller time frame suggests that TRX prices are consolidating and can rally anytime soon. The CMF manages to hold above the zero mark and remain positive. The MACD records both parties participating and running the market. The RSI reaches the zone above the half line and shows slightly higher purchases. Cumulatively, all suggest a price rise in the coming days.
Conclusion
The TRX shows potential to rocket and impress its holders in the coming days. Investors can trust the support zone of $0.05 to invest in the token, keeping in mind its futuristic approach.
Technical levels
Support levels: $0.05 and $0.04
Resistance levels: $0.06 and 0.07
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
