TRON ignores positive fundamentals, surrenders to bearish sentiments of the market
|- TRON’s TRX launched on a cryptocurrency trading platform Uphold.
- The short-term technical picture implies that the sell-off may be resumed.
TRON (TRX), the 15th largest cryptocurrency with the current market value of $1 billion, has had a bad day. The coin has lost nearly 12% of its value in recent 24 hours to trade at $0.0155 by the time of writing. While the downside movement was caused by a massive sell-off on the cryptocurrency market, TRON appears to be one of the biggest losers out of top-20 altcoins.
Listing announcements
Meanwhile, TRON continues its expansion to cryptocurrency exchanges. Thus the coin was listed on Latin American trading platform for digital assets Cryptofacil Exchange/ Also, recently, TRX was launched on a trading platform Uphold.
"We are absolutely thrilled to announce the launch of #TRON on @UpholdInc. TRON and the Uphold team are celebrating with 24 hours of zero-exchange fee trading on $TRX!” TRON Foundation posted on its Twitter account.
TRON’s technical picture
Positive fundamentals did little to protect the coin from the bearish sentiments that gripped the cryptocurrency market. While TRX/USD managed to recover from the intraday low of $0.0153, it is still well below the lower boundary of the previous range at $0.0170. We will need to see a sustainable move above this handle for the upside to gain traction with the next focus on $0.0171 (SMA50 (Simple Moving Average) on 1-hour chart) and $0.0174 (a confluence of SMA100 and SMA200).
On the downside, the initial support is created by an intraday low of $0.0153, followed by psychological $0.0150.
TRX/USD, 1-hour chart
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