Tron (TRX) Price Analysis – February 13

  • The short-term outlook is in a bullish trend while the medium-term is in a range-bound market.
  • Traders may consider buying at key areas with bullish candle candlestick pattern.

Tron, TRXUSDTron chart by tradingview

TRX/USD Medium-term Trend: Ranging                                

  • Supply zones: $0.04000, $0.05000, $0.06000
  • Demand zones: $0.01000, $0.00900, $0.00800

TRON remains in a range-bound market in its medium-term outlook  The bears' pressure was at $0.02464 in the demand area after the formation of a bullish gravestone - an indication of the bulls' presence. TRXUSD was up at $0.02490 in the supply area before the end of yesterday session.

The bullish momentum was sustained after today's opening with a break at the 10-EMA/ TRXUSD was up at $0.02560 in the supply area shortly after opening.

The stochastic oscillator signal points up at 28% an indication of upward momentum within the range.

TRXUSD is ranging and trading between $0.02800 in the upper supply area and at $0.02450 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence traders should be patient.

TRX/USD Short-term Trend: Bullish

Tron, TRXUSDTron chart by tradingview

The cryptocurrency is in a bullish trend in its short-term outlook. The bearish pressure was lost at $0.02455 in the demand area. This was the low of the day as the bulls staged a return breaking the 10-EMA asTRXUSD rose to $0.02476 in the supply area.

The bullish momentum was sustained after today’s opening with increased momentum as the price was up to $0.02560 at the key supply area. 

The bears brief return to $0.02467 in the demand area was a correction as the bulls may continue the journey up north to the key supply area.

The stochastic oscillator signal points up and the price is above the 10-EMA an indication of upward momentum in price in the short-term.

 

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

Hacked Exchange Cryptopia Enables Trading in 40 Different Currency Pairs

New Zealand-based digital asset exchange, Cryptopia has reportedly resumed trading on its exchange as it is now allowing 40 different trading pairs. This, after Cryptopia recently experienced from several different security breaches.

Support For Bitcoin, Litecoin, Dogecoin Pairs Added

Cryptopia’s management announced (via Twitter on March 18th) that it is planning to expand its list of coins which will again be supported on its trading platform. As noted on Cryptopia’s official support website, the exchange has enabled several different trading pairs (as of March 19th, 2019) with major cryptocurrencies. These include bitcoin (BTC), litecoin (LTC), and dogecoin (DOGE).

In response to Cryptopia’s announcement, Twitter user @dgb-chilling, a supporter of DigiByte (DGB), a cryptocurrency that uses five different mining algorithms, said that he had emailed the exchange’s support team to inform them regarding the coin’s latest update (version 6.17.2). He added that “an upgrade was recommended but not mandatory.”

Meanwhile, Chuck Norris (@CryptoTweet6) remarked: 

Now this is good news! Let’s hope the rest of the coins will be released for trading swiftly.

Other users also considered it “good news” that the compromised cryptoasset exchange was gradually resuming its operations. However, one social media user asked when Cryptopia would start enabling deposits while another inquired about why his ARK coins were still not recoverable from the trading platform. He claimed that he had deposited 1,000 ARK, currently valued at around $628, (a popular proof-of-stake based coin) on Cryptopia. The user also complained that his coins were missing “missing because [the exchange] did not update the ARK wallet."

Tens Of Millions Of Dollars Stolen In Hack

On February 27th, 2019, Cryptopia’s management announced that it was “assessing the impact incurred as a result of the hack” which led to the theft of tens of millions of dollars in cryptocurrency. Last month, Cryptopia’s support team had also estimated that the total loss incurred due to the security breaches was of around 10% of its total holdings (in the worst-case scenario).

Notably, the exchange’s official Twitter account had been silent for several weeks (since Feburary 14th). However, it released several announcements, starting in late February, in which it revealed that its staff members were working on securing each customer’s account individually. Cryptopia’s management also noted that it was taking the appropriate measures to ensure that its trading platform is secure when it is officially back online.