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TRON {TRX} price analysis for October 2019; Justin Sun selects 10 lucky winners


TRON is ranked at #11 beneath Stellar Lumens in the market. The trading volume recorded is $751.270 million, while the supply has 66.682 billion TRX coins involved as part of the circulation. The total market cap of TRON amounts to $1.076 billion as of this instant. The price got diminished at a rate of 5.28% in the course of the past 24-hours; this brought TRX all the way down to $0.016141 where it currently rests.

According to the candlestick chart connected to the TRX/USD pair on tradingview [based on the data obtained from the Bitfinex Exchange], sellers are back at the helm, steering the price towards $0.015. The RSI [for 14 periods] was at 59.72 a day back and has now dipped to 53.4 where it presently sits. From 8th October onwards, the peaks tied to the Awesome Oscillator landed atop the zero line, and their green shade points to bullish momentum building in the market.

The crimson Ichimoku Cloud has thinned down, and the MACD line has stayed above the signal line since the 4th of October. However, today’s emerald bar looks faded, signifying that bears are stepping up their activities. Resistance may be felt near the $0.01864 mark, and support lies adjacent to the $0.01222 level.

Justin also spoke of Effective Proposal #16 [linked to resource delegation] a few hours back. By bringing in solutions from members within the community, Justin wishes to build TRON’s ecosystem and enhance certain aspects of the network.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.