Tron (TRX) Price Analysis – February 21

  • Both the medium and short-term outlook is in consolidation.
  • Traders should be patient during this period.

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 consolidation in its medium-term outlook. The strong bullish pressure broke the upper supply area of the range at $0.02541. This was the second breakout seen. TRXUSD rose to $0.02582 in the supply area before exhaustion set in with a drop in price to $0.02519 in the demand area.

Although today’s 4-hour opening candle at $0.02539 was bullish, the bulls managed a push of the cryptocurrency to $0.02588 in the supply area but the candle closed as an inverted bearish doji. The price dropped to $0.02469 within the range as the cryptocurrency continues in the range.

TRXUSD 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: Ranging

Tron, TRXUSDTron chart by tradingview

The cryptocurrency is in the range-bound market in its short-term outlook. The 1-hour opening candle at $0.02536 was bullish as the cryptocurrency rose to $0.02588 in the supply area. Exhaustion gradually sets in as the candle closes with a wick an indication of the bear presence.

TRXUSD dropped to $0.02469 as it enters a range-bound market in the short term with the bulls taking price to the upper supply area of the range.

$0.02570 is the upper supply area and $0.02483 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower area with a retest before a position is taking.

 

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

Chainalysis Launches Real-Time Suspicious Transaction Alerts for 15 Cryptocurrencies

Blockchain intelligence firm Chainalysis has introduced "suspicious cryptocurrency transaction alerts" in "Chainalysis Know Your Transaction (KYT)", its "real-time anti-money laundering (AML) compliance solution".

Chainalysis, which was founded in 2014 by Dr. Michael Gronager (the current Chief Executive Officer), Jan Moller (the current Chief Technology Officer), Jonathan Levin (the current Chief Operating Officer), is a company with two main products:

  • Chainalysis Reactor -- its investigation software suite
  • Chainalysis Kknow Your Transaction (KYT) -- its compliance software suite

Chainalysis KYT supports "real-time transaction screening"; "case management capabilities"; "enhanced due diligence"; and "KYT for token issuers".

In a press release published on its blog on Thursday (August 22), Chainalysis says that Chainalysis KYT's alerts are "designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources."

John Dempsey, VP Product, Chainalysis, had this to say:

As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices.

According to Chainalysis, this new feature results in alerts being generated "whenever a transfer involves a risky counterparty and crosses a value threshold." Alert levels (Severe, High, Medium, and Low) are "based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount," and are available for all 15 cryptocurrencies that Chainalysis supports (including BTC, ETH, BCH, LTC, USDT, and DAI).

Michael Breu, Gemini's Chief Compliance Officer, also chose to comment on this announcement:

As a New York Trust company we are required to monitor transactions on and off our platform. Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini's own compliance policies, help us meet our regulatory obligations.

 

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