TRON (TRX) Moves Higher in Rankings. What’s the Catalyst?

  • Thomas Hughes

    TRON outperformed yet another coin today and secured the number 8th spot in the rankings by market cap

TRON (TRX) Moves Higher in Rankings. What’s the Catalyst?
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TRON outperformed yet another coin today and secured the number 8th spot in the rankings by market cap. After moving ahead of Bitcoin SV just a couple of days ago, today it was Tether’s turn to succumb to the pressure, albeit for a very thin margin: TRON market cap $1,957,545,913, Tether market cap: $1,931,671,398 (data from CoinMarketCap).

This new flippening comes just a day after TRON announced they’ve hired David Labhart, who is a former US Securities and Exchange Commission (SEC) supervisory attorney, as first chief compliance officer and co-general counsel. It’s unclear whether this was the catalyst behind the price increase, but it’s certainly good news for TRX.

Chart Analysis – TRX/USD

Without a doubt TRX is the best performer of the year to date, adding more than 46% during the last 7 days and spiking to a high of 0.0358 against the US Dollar. However, many of the gains were erased and now the pair is testing the support/resistance level at 0.0280.

TRX/USD chart

The last candle is showing a very long wick in its upper part, which is almost always a clear sign of rejection. On top of this, the Relative Strength Index is overbought on several time frames, including the Daily chart above and all this evidence points towards a potential drop below the previous resistance level (0.0280) and into the 200 days Exponential Moving Average (thick blue line on chart).

After said retracement is complete, the pair is likely to move again towards the previous high at 0.0358. Our view is bullish as long as the blue trend line seen on the chart remains intact.

Support zone: 0.0245, the bullish trend line and 200 EMA

Resistance zone: 0.0358 (also, 0.0280 can turn into resistance if the price drops below it)

Most likely scenario: retracement that finds support at 0.0245, 200 Days EMA and/or bullish trend line

Alternate scenario: break below 0.0245 followed by a stagnation period

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Bitcoin Cash Price Prediction: $300 in a Few Weeks? The BCH Rocket-Speed Rally Has Just Begun!

  • Vera Thornpike

    Bitcoin Cash price prediction for March-April: BCH price charts and technical indicators give us positive signs. BCH is to reach $170 soon and break other resistance leve

Bitcoin Cash Price Prediction: $300 in a Few Weeks? The BCH Rocket-Speed Rally Has Just Begun!
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Contents

Taking the lead of the race, Bitcoin Cash has outperformed other cryptocurrencies by growth rate and has recently rocketed to $157, surprising traders. Has it reached the roof? Not likely – tradingview users have a positive outlook at BCH perspectives and future price and share their opinions with us. Good news: BCH $300 value is possible again!

BCH to reach $300 in the coming weeks

BCH might reach $300 by April 10th

Bitcoin Cash price chart from BeefStew

Sounds fantastic, but we might see BCH reaching $300 in the coming weeks if BTC continues moving upward. If the channel is accurate, the previous downward trend line and the 200 EMA will intersect at $300 around April 10th. Isn’t it great?  It means investors might enjoy at least a 200% profit in a few weeks.

However, other BCH price predictions aren’t as optimistic as this one – other TradingView users are sure that BCH will face resistance soon.

$172 price before retrace

Bitcoin Cash might take a step back after reaching $172

Bitcoin Cash price chart from EuroMotif

Bitcoin Cash is still at the head of the rally, and it looks pretty strong right now, targeting the $172 level. However, according to EuroMotif, as soon as it reaches the $172 threshold, it will take a path of retracement. Yesterday, we could see Bitcoin Cash hitting resistance at 5.618, but it was able to surpass it.

Let’s hope it will be able to move forward after hitting $172, as well.

Uptrend to $170 is likely to continue

Uptrend to $170 is very likely to go on

Bitcoin Cash price chart from Goldgram

According to Goldgram, Bitcoin Cash’s StochRSI is moving close to the center. Thus, If the BCH/USD pair goes beyond the range, then a new trend will be created and the price could rally all the way up to $156 to $160.

Since the price has broken through the $140 range, the uptrend can extend to $170.

But what if BCH take a nosedive after its splendid soaring? Traders can uphold the stops on the long positions at $114. If the bears go under the pair below $120, it can decline to $104.

Goldgram points some resistance and support lines for the short term:

Resistance 3: $132.4006

Resistance 2: $130.4683

Resistance 1: $128.9942

Support 1: $125.5877

Support 2: $123.6554

Support 3: $122.1813

Expect a minor BCH plunge before recovery

BCH might fall for a week to give us a chance to enter the market

Bitcoin Cash price chart from ArminZed

Take a look at the Bitcoin Cash price graph from ArminZed: he predicts that BCH will soon retrace to its previous $136 position (it will happen by March 25th), but it won’t last long. By the beginning of April, it’s expected to get back to $150 and higher. Might be a great opportunity to enter the market and make a profitable investment.

Bitcoin Cash has made a great present for investors managing to break the channel. But what’s next? Should we target the $170 zone? Definitely, yes. Even if that doesn’t happen in the nearest weeks, a BCH retracement might become a great opportunity for investors.

BCH/USD price chart on TradingView

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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