This month a Chinese journalist published a news article regarding the Huobi exchange, where this popular crypto exchange platform announced a change in leadership because of an exchange in promoter shareholding.
According to this TRON news, Justin Sun, the founder of the TRON network, is a stakeholder in the Huobi exchange. Later, Justin Sun disagreed with the news, but it is speculated that it will impact the price of TRON shortly.
TRON’s price is all set to break the resistance of $0.07 in the next few months due to the positive sentiment of the community. Huobi is a popular crypto exchange platform, and integration of TRX in this platform makes the crypto scarcer, which will drive the price up. Retailers have started investing in TRON for the long term. The whales are also accumulating in the last few months, so it is a great time to invest in TRON.
The network aims to decentralize the Internet service without the regulations of any third-party authorities like Google and Facebook, which are currently ruling the internet-based platforms and services. It will be a game changer in the next ten years.
On this platform, the content creators will directly deal with the consumers without worrying about censorship. Overall, it will drastically reduce the impact of large corporations where the internet will become decentralized, creating equal opportunity for all. If you are interested in investing in TRX (the native coin of the TRON network), then check out our technical analysis.
At the time of writing this analysis, the TRX price is trading around $0.061. The chart was in a downtrend for the last one month, but now it has changed the momentum and has formed a higher low with support around $0.06, which is a positive sign for the short term. Candlesticks are forming around the baseline of BB with positive MACD and RSI. That means you can invest for the short term with a target of $0.07, which is a strong resistance.
On the weekly chart, most technical indicators are not bullish. The recent weekly candle is an indecisive Doji that holds the support of $0.059. We think it is not an ideal time to invest for the long term, but you can accumulate some coins for the long term so that if it breaks this support, you can accumulate more coins at a lower price. However, it is time to invest for the short term with a target and stop loss. Please follow our website to get the latest update on TRON.