TRX price charts show that the altcoin is turning bullish across all time frames in the entire altcoin space, as per the Tron TRX news that we have today.
The technical analysis shows that the TRX/USD pair could be preparing to test the $0.030 resistance level in the medium-term. Tron TRX is approaching fast the $0.020 resistance level due to the strong buying demand for the altcoins. The TRX price charts show that the cryptocurrency could rally towards key long-term trendline around the $0.030 level.
The daily time frame shows that the TRX/USD pair has now turned technically bullish and is trading above the 200-day moving average. With this price action, TRON could be headed down to important resistance levels above the $0.020 level. The 50 percent Fibonacci retracement of the current 2020 high to 2020 low, is now located around the $0.024 and a break above this will expose further upside towards the $0.030 level. Look out for the long-term trendline resistance from the 2018 and 2019 yearly high which is located at the $0.030 level.
The TRX/USD pair has a short-term bullish bias while the price trades above $0.016 level. TRON’s technical analysis shows a bearish head and shoulders pattern forming but it got quickly invalidated. According to the size of the invalidated pattern, the tRX/USD pair could be set to rally above $0.2300 level. Also, make sure to watch out for short-term gains in the TRX/USD pair while the price starts trading above the head of the bearish pattern located at $0.019. The technical analysis shows that the cryptocurrency could rally above this level but the bulls could be targeting the key trendline resistance around $0.030.
The TRON ecosystem continues to expand across the globe, visible from the latest partnership with MeconCash. More than 13,000 ATMs will provide support for crypto-fiat swaps as TRON seeks to steal the status of versatile digital cash for the people in the country. Tron joins forces with the company to allow withdrawing of the coin from ATMs in South Korea. Thanks to the latest partnership with MeconCash, locals, and tourists in South Korea will be spared from cash-out procedures when they need to convert their crypto into fiat.
Finally, TRON’s arbitration that was initiated after two employees were fired from the Foundation last year, filed a writ of mandamus with the First District Court of Appeal In California. The court then decided that the lawsuit can be settled in arbitration but it seems that the arbitration is now facing challenges.
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