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

Samsung Blockchain Wallet Offers Integration With Gemini Exchange in North America

On Thursday (May 28), U.S. based crypto exchange and custodian Gemini, which was founded by the famous Winklevoss twins, announced that it had been integrated into the Samsung Blockchain Wallet (available for select Samsung Galaxy phones).

This is how Gemini announced this partnership on Twitter:

In Gemini's blog post, Co-Founder and CEO Tyler Winklevoss, said that this integration with the non-custodial Samsung Blockchain Wallet would make it easier for Samsung Blockchain Wallet users in North America to buy and sell crypto on their Samsung Galaxy phones:

"By connecting their Samsung Blockchain Wallet to Gemini, users can buy and sell crypto, view their Gemini account balances, and also transfer their crypto into cold storage with Gemini Custody for the highest level of security."

The Gemini CEO went on to add:

"Crypto is not just a technology, it is a movement. We are proud to be working with Samsung to bring crypto’s promise of greater choice, independence, and opportunity to more individuals around the world."

This is what the version of Samsung Blockchain Wallet without the crypto exchange integration looks like:

old Samsung Blockchain Wallet app.png

And this is what the new version of Samsung Blockchain Wallet with the Gemini integration looks like:

Samsung Blockchain Wallet - May 2020.png

Featured Image Courtesy of Gemini Trust Company, LLC