TRON (TRX) Exhibits Tremendous Hike Overnight
The TRON coin seems to reach a new high on the intraday chart. The upside momentum is speculated to stay for a while. Meanwhile, TRON announced on its twitter handle about using Gravity to connect the Waves and TRON’s blockchains’ smart contract languages, Solidity and Ride. This collaboration allows both the ecosystems to expand their services for two userbases and
Gravity is a token-agnostic blockchain oracle that also has a cross-chain communication network. TRON and Waves will establish a bridge via Gravity. One of the firm barriers in the mass adoption of cryptocurrencies is the fragmentation of ecosystems. Another rock is the absence of inter-chain communication amid different products and services. As and when deeper integrations will be introduced, it will become feasible for the users to interact inside the ecosystems.
TRON Price Analysis
TRON coin was trading around $0.0159 on June 01 with upward momentum. The price movement reflected a moderate escalation for the next eight days. The price of TRX coin touched $0.0185 on June 08. However, the following days carried a plunge, and on June 15, the price dropped to $0.015.
Later, TRX’s price hovered around the same level until the end of June. The next month, the currency marked stagnant movement in the first few days, but later, it escalated and touched $0.0190 from $0.0165. The following days brought a minor plunge in the TRON price, and on July 20, the price was at $0.0175. Later, TRON kept the uptrend intact despite massive fluctuations and closed the month at $0.0197.
Since the beginning of the ongoing month, TRX coin marked stagnant movement. On August 11, the coin reflected a spike at $0.020 but later faced rejection. However, yesterday, TRON price has been exhibiting tremendous surge and crossed $0.024 mark.
At the press time, TRX/USD holds strong support of daily MAs at $0.0209 & $0.0221. Both the SMA lines form a bullish crossover. The MACD chart also reflects a similar crossover. As per the current trend and strong fundamentals, TRON might keep the uptrend intact for the near-term.