People who own Tron (TRX) may find it wise to look at the price of the coin, which shows that it could go up. In the past day, TRX has gone up to $0.0645. This is because of the partnership with Dominica, which made TRX the official protocol for the country’s blockchain infrastructure.
Tron DAO said that this was the “first time a major blockchain company” made a deal like this.
Dominica said that TRON will be the official protocol for its national blockchain infrastructure. #TronStrong This is the first time a big blockchain has made a deal like this. Below is the government’s official statement: https://t.co/gqc0fvBLJZ pic.twitter.com/2ISdk051x0
— TRON DAO (@trondao) 10/12/2022
TRX/USDT Trading Chart for One Day (Source: TradingView)
At the time of this writing, however, TRX is trading at $0.06174, which is down 0.07% from the previous day. But in the same time period, its size has grown by more than 54%.
In more detail, TRX was going up in value at the beginning of October, but then it went down, and on October 10 it went back up to around $0.06527.
For another good surge at the $0.07042 resistance zone, the TRX candle should at least touch the turbulence line in the 200 EMA range of the 1-day trading chart. This price range is also where TRX was in the middle of August.
Even though TRX showed a green candle, the International Energy Agency (IEA) meeting on the Oil Mark Report, which was still going on at press time, could have caused most of the major coins, including TRX, to drop.
TRX/USDT: Trading Chart for 1 Hour
At 5:00 UTC, the 1-hour trading chart showed that TRX had fallen very sharply to $0.06084. Also, many investors sold their coins yesterday at 12:00 UTC, which caused TRX to fall off a cliff.
The graph shows that at 02:00 UTC on the same day, there was a “bullish zone.” This shows that people who owned TRX bought more coins, which made the price go up for almost 5 hours.
In addition, BTC, ETH, XRP, ADA, DOT, SOL, and a number of other major coins have fallen. Among the top ten coins by market cap, ADA had the biggest drop in value in the last 24 hours, at 7.18 percent.
Disclaimer: All of the information in this price analysis, as well as all of the views and opinions expressed, are shared in good faith. The reader must do his or her own research and homework. Any action the reader takes is at their own risk. Coin Edition and its partners are not responsible for any damage or loss, whether it is direct or indirect.
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