Tron (TRX) Price Analysis – January 14

  • The medium and short-term outlook is in a bullish trend
  • Responsible buying at pullback areas may be considered

Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

TRX/USD Medium-term Trend: Bullish

Supply zones: $0.04000, $0.05000, $0.06000

Demand zones: $0.01000, $0.00900, $0.00800

TRX returns to a bullish trend in its medium-term outlook. The bears kept the pressure on as predicted to the 78.2 fibs over the weekend as TRXUSD drops to $0.02118 in the demand area.  Late yesterday saw signs of exhaustion of the bearish momentum with the formation of a bullish spinning top.

Today’s 4-hour opening candle at $0.02152 was a bullish engulfing candle with the price initially up at $0.02400. Increased bullish momentum move TRXUSD to $0.02517 in the supply area a few hours after opening.

New highs are up for retest with stochastic oscillator signal pointing up at 32% and the price above the two EMAs crossover which indicates upward momentum in price. $0.0300 in the supply area is the initial bulls target in the medium-term.

TRX/USD Short-term Trend: Bullish

 Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

TRX is in a bullish trend in its short-term outlook. $0.023331 target in the demand area was broken with TRXUSD going further down to $0.02110  in the demand area where rejection for downward continuation built up. The bulls gradually staged a return late yesterday. Confirmation to market takeover occurred with the bullish engulfing candle at $0.02151 shortly after today’s opening. The two EMAs' crossover was broken as TRXUSD rose to $0.02571 in the supply area.

The journey north may began with the price above the two EMAs which connotes bullish pressure in the short-term. As more candles opened and closed above the two EMAs, $0.02800 in the supply area may be retested


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

Qtum’s Price Jumps Over 27% to $5.6 on ‘Confidential Tokens’ Advancements

Qtum (QTUM) has recently seen its price rise by nearly 30% in a small amount of time, after the smart contract platform’s developers revealed they’ll be working to add privacy features to it after an expected upgrade in September of this year.

At press time, according to CryptoCompare data, one QTUM token is trading at about $5.5 after rising 27.6% in the last 24-hour period. Over the last 30 days the cryptocurrency’s price has risen 83.3%, with most of the rise coming from a recent ump.

Qtums price performance over the last 30 days

According to a Telegram AMA the developers did with the community, an upgrade to the cryptocurrency’s blockchain, Qtum 2.0, is set to be released later this year. After it’s out, the developers will work on making private smart contracts and ‘confidential assets’ work on the network.

From a transcript of the AMA, a developer stated:

After we release Qtum2.0 in September, we will working on QIP19, it will enable use Mimble Wimble Technology to release confidential assets on Qtum, we did huge research on all privacy solutions, and we think the MW Technology is one of the best. So After QIP 19, you can release confidential assets and confidential token on Qtum network.

The developer added this means Qtum is going to be bridging the gap between smart contract platforms and privacy-oriented cryptocurrencies. He explained that while privacy coins like zcash and monero are used as cash, it isn’t possible to create smart contracts on their blockchains.

On the other hand, he added, smart contract platforms like EOS and Ethereum aren’t completely private, as blockchain data can reveal users’ identities. This, although the importance of privacy features has been recognized by ETH’s developers. The developer added:

So Qtum want be the First Smart Contract Platform with Privacy. We also think to Airdrop some Privacy Asset later, but this not decided yet.

Behind Qtum’s rise are likely other factors, including it being added to Binance’s Trust Wallet in May of this year. That same month, Qtum also unveiled a full suite of blockchain developer tools in a partnership with Google Cloud.

Qtum, along with TRON, has been seen one of the “top challengers” to the leading smart contract blockchain, Ethereum. Bitcoin’s surge to $12,800 and a wider crypto market rally also played a role in Qtum’s price rise.