Tron (TRX) Price Analysis – February 18

  • The short-term outlook is bullish while the medium outlook is in consolidation
  • Responsible buying in the short-term may be considered.

Tron, TRXUSD, Cryptocompare chartTron 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 is in a range-bound market in its medium-term outlook. The weekend saw the cryptocurrency in consolidation with $0.02454 in the supply area as the high while $0.02390 in the demand area was the low attained.

The 4-hour candle of today’s session at $0.02414 was bullish with the price already up at $0.02469 in the supply area. The price is above the 10-EMA and the stochastic oscillator signal pointing up at 65%. These suggest the bulls may sustain the upward momentum in price within the range in the medium-term.

XLMUSD is consolidation and trading between $0.02541 in the upper supply area and at $0.02362 in the lower demand area of the range. A breakout at the upper supply area may be considered for a long position after a retest while a breakdown at the lower demand area may be a short position with good bearish candlestick pattern as confirmation.

TRX/USD Short-term Trend: Bullish

 Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

 The cryptocurrency is in a bullish trend in its short-term outlook. The bulls are back after the breakout at the two EMAs crossover at $0.02407 before the end of yesterday. Today opened at. $0.02417 with TRXUSD already up at $0.02469 in the supply area.

The bulls may sustain the pressure as indicated by the price above the two EMAs and the stochastic oscillator signal pointing up at 72%.

The bulls initial target is $0.02500 at the supply area as the bullish pressure becomes strong and more candles formed above the EMAs crossover.

 

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

XRP Trading Now Available to Customers of Huobi Marketplace in USA and China

On Thursday (April 18), Huobi Marketplace (formerly known as "HBUS"), the cryptoasset exchange operated by San Francisco-based company HBUS Holdco, Inc. ("HBUS"), the exclusive U.S. partner of Singapore-based Huobi Global Limited (“Huobi Global”), announced that XRP trading had become available on Huobi.com.

The Huobi Marketplace originally went live under the "HBUS" brand on 10 July 2018. Initially, trading was only available in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Civic (CVC), Dash (DASH), and TrueUSD (TUSD). By 29 November 2018, 12 cryptoassets and 35 trading pairs were supported. 

Then, on January 11, HBUS published a blog post in which the company's CEO, Frank Fu, said that HBUS had "obtained exclusive rights to use the Huobi brand in the U.S." and changed the name of its marketplace (i.e. crypto trading platform) from HBUS to Huobi. HBUS also said that it had migrated "from its previous website (www.hbus.com) to the new domain at www.huobi.com."

In a press release issued on the same day, which was also posted to its blog, HBUS explained that it would continue to be "the company operating the U.S. trading platform," while Huobi Global, Huobi Group’s flagship digital asset exchange, would continue "to operate under its own name at hbg.com."

Here is how HBUS explained the advantages of this strategic partnership with Huobi Global:

"The exclusive licensing agreement and partnership gives HBUS a reputable brand to provide U.S. traders with localized trading experience. A closer relationship also means more technological support from Huobi Global for HBUS, which will provide advanced stability and security features."

Thursday's announcement by Huobi Marketplace informed customers that in order to provide them with "carefully vetted and high-quality trading options," it was adding support for XRP:

"Starting now, you can deposit XRP on the Huobi Marketplace, and the estimated opening time for XRP trading and withdrawals will be April 19th, 2019 at 12:00AM PST. Supported XRP trading pairs include XRP/USD, XRP/BTC and XRP/USDT."

 

Featured Image Courtesy of HBUS