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TRON {TRX} skates past the $0.02 mark; HODLers expect a bigger pump as USDT supply grows

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Amongst all the renowned players within the market, $TRX proved its worth following Xi’s speech in China. The price rose at a rate of 23.36% which helped the digital currency head all the way up to the $0.02024 mark where it currently rests. The trading volume recorded stands at approximately $1.971 billion, while the supply still contains 66.682 billion TRX coins involved as part of the circulation. The total market cap of TRON is $1.349 billion for now.

In accordance with the candlestick chart connected with the TRX/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], the virtual currency’s performance is being impacted by buyers. Post-24th October, the peaks tied to the Awesome Oscillator were created atop the zero line, and their green shade points towards the dawn of bullish pressure which helped $TRX break the consolidation pattern.

Similarly, from 25th October onwards, the MACD line began drifting away from the signal line, resulting in the progression of the emerald histogram established over the zero line. The daily RSI [for 14 periods] is at 68.87 which indicates that TRON may land in overbought territory by Tuesday i.e. tomorrow if the bull-run continues.

Barriers will be felt next at the $0.0221 mark, and support lies adjacent to the $0.013796 point.

TRON has garnered a ton of attention in China, although Justin had encountered a series of problems after a scam invoking TRX’s name went awry, which affected Sun adversely. Several agencies reported that Justin was held behind bars, but Sun debunked the rumors by live-streaming all the way from San Francisco.

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.