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.

Binance Coin (BNB) Price Up Over 8%, Sets Another All-Time High by Going Over $29

According to CryptoCompare, at 10:20 UTC + 01:00 on Sunday (May 19), the price of Binance Coin (BNB) set a new all-time high (ATH) at $29.80, and at press time, it is still trading at $29.36, up 8.66% in the past 24-hour period. 

Below is the 24-hour price chart for BNB:

BNB - 24 Hour CC Chart - 19 May 2019.png

The performance of BNB over the past three-month period is truely impressive: the price has gone up from $10.47 to $29.36 for a gain in value of over 180%.

BNB - 3 Month CC Chart - 19 May 2019.png

This new all-time high comes just three days after the BNB price reached an ATH of $27.39 and four days after Binance confirmed that it had completed its major security upgrade and relaunched its trading platform (following the security break it suffered on May 7).

The main reason for today's strong performance is the upcoming public sale of the Harmony (ONE) token, which was announced on May 16 (one of the main reasons for the previous ATH that was set on that day), and which is set to start at 06:00 UTC on May 27. More specifically, since one of the rule changes for this sale is that Binance is now calculating for each user account the average BNB holding over the holding period (which is calculated by taking the average of the BNB balance at 23:59:59 UTC on each day in the 7-day holding period) and the holding period, as can seen by this reminder from Binance, starts at 23:59:59 UTC on May 19, it is important for all those Binance users who are interested in participating in this token sale to make sure that they have a sufficient number of BNB tokens (minimum is 50) before this deadline: