TRON (TRX) Price Analysis – April 25

  • The short and medium-term outlook is in the downtrend.
  • Traders may consider selling at bullish exhaustion area with bearish reversal candlesticks as confirmation.

Tron, TRXUSD,TRON chart by TradingView

TRX/USD Medium-term Trend: Bearish                               

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

TRON continues in a downtrend in its medium-term outlook. The bearish impulse move to the downside dropped TRX to $0.02300 in the demand area. This corrective move currently ongoing puts the cryptocurrency in a brief consolidation. This is necessary for market correction and to confirm the downtrend continuation.

Today’s 4-hour opening candle at $0.02360 closed as an inverted hammer an indication that the bears are back as price drops to $0.02539 in the demand area.

The price is below the two EMAs crossover an indication of more sellers presence. With the signal of the stochastic oscillator down at 14% in the oversold region. It suggests further downward movement in the price of the cryptocurrency as the bears' pressure becomes strong in the medium-term.

 $0.02150 in the demand may be a target for the bears.

TRX/USD Short-term Trend: Bearish

   Tron, TRXUSD,TRON chart by TradingView

The cryptocurrency remains in a bearish trend in its short-term outlook. With the low of the day at $0.02300 in the demand area during yesterday's session, the bears remained in control despite a bullish opening candle at $0.02330 earlier today.

The formation of a bearish marubozu candle at $0.02370 signaled the bear return as the price drops to at $0.02314 below the 10-EMA.

The signal of the stochastic oscillator points down at 38% with the price below the two EMAs. This implies downward momentum in price with TRX at $0.02225 in the demand area as an initial target.

 

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

PayPal is Cautiously Optimistic About Partnership with Libra Association

  • PayPal cautious about future with Facebook's digital currency libra. 
  • Payment platform was one of the first companies to join and support the Libra Association.

Payment platform PayPal is cautiously optimistic about its relationship with Facebook’s digital currency libra, despite being the highest-profile company to join the Libra Association. 

PayPal Backs Libra Association

In June, shortly after the official unveiling of Facebook’s libra, PayPal announced an intention to join and support the Libra Association, a collection of tech and finance companies promoting the product. 

At the time, PayPal billed the digital currency as a revolutionary product for people around the world, 

We believe in democratizing participation in the digital economy for people from all walks of life, and businesses of all sizes.

However, PayPal appears cautious about its future with Facebook’s digital currency. PayPal investor relations vice president Gabrielle Rabinovitch reiterated Sept. 12 that the company is a non-binding agreement with libra, 

It's a non-binding commitment. And obviously, I think there's a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.

She added, 

The goals and ambitions of Libra are very consistent with PayPal's overall ambitions in terms of serving the underserved; democratizing access to capital. So we very much believe in the potential of Libra.

While PayPal appears optimistic about the future of libra, the digital currency has endured months of regulatory and political scrutiny concerning its release. 

Earlier in the week, senior U.S. Treasury official Sigal Mandelker told an audience in Geneva that libra would be held to the highest standard of regulatory compliance in order to combat money laundering and terrorist funding.

 

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