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.

Major Zcash Protocol Upgrade to Make It Easier to Use Private Transactions

The Electric Coin Company (ECC), the organization behind the development of Zcash (ZEC), is reportedly planning to make the privacy-oriented cryptocurrency as easy to use as making cash payments.

The developers of Zcash will also be adding features to the cryptocurrency which would further enhance its privacy.

Zcash Should Be Usable by Billions of People by 2050

Initially developed and launched in 2016 by the Zcash founding team, which included Zooko Wilcox, a Colorado-based computer security expert, the privacy coin currently has a market capitalization of around $778 million.

During the annual Zcon1 conference, held recently in Split, Croatia, Zcash’s development team explained how they intend to greatly improve the existing privacy coin network. Nathan Wilcox, the Chief Engineer at ECC, noted:

I think we should make Zcash usable by 10 billion people by 2050 if we can.

The current architecture and codebase of the Zcash blockchain network closely resembles that of Bitcoin (BTC), the flagship cryptocurrency. However, Zcash (like BTC) faces significant scalability challenges and its development team intends to make modifications to its protocol that would allow it to handle thousands - or even millions - of transactions per second (TPS).

Using Sharding to Scale the Zcash Platform

As explained during the conference, the changes to the Zcash platform will most likely involve major modifications to its existing blockchain network. In order to scale the current platform, Zcash’s development team is considering the use of “sharding” - which involves splitting the crypto's network into subnetworks and processing the data associated with them separately.

This type of implementation ensures that the network can handle a significantly large number of transactions, thus achieving considerably greater throughput.

New Zcash Design Could Be “Entirely New Protocol”

To implement sharding on Zcash, the platform’s developers claim the current privacy coin network will have to be built (again) from scratch - or the ground up. This, according to Daira Hopwood, a Product Designer and Software Engineer at ECC, who noted that the new Zcash design could potentially be an “entirely new protocol and blockchain.”

Some key design considerations, while making updates to Zcash, would be to allow users’ ZEC holdings to be transferred to the upgraded privacy coin network. Efforts will be made to ensure that the crypto’s existing users do not lose their coins during the transition process, ECC’s team noted.

Zcash’s Private Transactions Not Being Widely-Used

Notably, one of Zcash’s major challenges, which the upgrade intends to address, is that hardly anyone is using the cryptocurrency’s private transactions (TXs). While private TXs are the default setting on leading privacy coin Monero (XMR), the Zcash network does not enable private transactions by default.

At present, less than 2% of ZEC transactions are private, however the planned upgrade will reportedly aim to resolve this issue - in order to make it easier for a larger number of users of use private TXs.

Project’s Development Requires Sustainability

To ensure that the project’s development is sustainable, its developers believe that ECC and the Zcash Foundation (an organization that also supports Zcash’s development) will have to continue to work cooperatively.

There also needs to be adequate funding for the project in order for it to achieve its long-term development goals. Currently, the day-to-day operations of the ECC and the Zcash Foundation are mainly funded through mining rewards. However, compensation via mining will reportedly end at some point next year.