Tron (TRX) Long-term Price Analysis - December 16

  • The $0.012 mark is still a strong support that needs to be broken if TRX’s price is to go lower.
  • A retest of said mark could see the crypto get to lower lows and lower highs for a while, before moving in favor of the bears.

TRXUSD Long-term Trend – Ranging

Distribution territories: $0.02, $0.024, $0.026

Accumulation territories: $0.008, $0.006, $0.004

Tron’s TRX token has been dropping against the US dollar and its price has already been rejected at various territories within its specific range in the last week. Currently, its range is between the $0.016 and $0.012 marks.

Tronn, TRXUSD, Cryptocompare chartTron Chart by TradingView

The cryptocurrency’s price has been trading along the 14-day SMA’s trend line. The 50-day SMA is currently located above the 14-day SMA. The Stochastic Oscillators appear to be crossing at range 40 and are starting to point north. This signal isn’t yet enough for traders to enter a long position, as there’s still a possibility they’ll get caught in a bull trap as the cryptocurrency hasn’t moved enough to assure its trend.

The price spike TRX saw on November 28 has been gradually erased by the bears’ force in the market. The $0.012 mark is still a strong support that needs to be broken if TRX’s price is to go lower. A retest of said mark could see the crypto get to lower lows and lower highs for a while, before moving in favor of the bears.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

TRON Partnering with Refereum to Generate Rewards for Gamers Stuck Indoors

  • TRON has announced a partnership with gaming rewards platform Refereum.
  • Users can earn TRX and BTT for participating in the platform and DLive streaming service. 

TRON has partnered with Refereum to enable video game streamers to earn TRX and BitTorrent Token (BTT) amidst the ongoing lockdown.

According to the press release shared with CryptoGlobe, TRON’s new partnership will allow users of the gaming rewards platform access to cryptocurrency tokens as a form of incentive. 

The release reads, 

As a result, gamers can earn crypto rewards, receiving a passive income for doing something they love.

Refereum had previously partnered with blockchain streaming platform DLive in November 2019, which was subsequently acquired by TRON. Users who join and participate in the streaming service during the month of April will be gifted “loot crates” containing TRX and game codes. 

Refereum CEO Dylan Jones said, 

It’s our hope that through this partnership with TRON and DLive we can make time at home more interesting for millions of people by offering rewards for watching game streams.

The partnership comes at a time when many across the globe are forced to stay indoors, as a result of mandatory stay-at-home orders in response to the coronavirus.

Featured Image Credit: Photo via Pixabay.com