Tron increased by 53 percent in just five days. What is the reason?

Among the top 10 altcoins of our rating while only Tron shows the most impressive results. Despite not the best condition of the market, the cryptocurrency has been growing for several days, adding to its value by 53 percent.

Today the coin has reached a new local peak level 0,0306 dollar. In the last 24 hours TRX managed to rise by 13.5 percent against the dollar. Due to the sharp decline in the capitalization of the project coin has overtaken Bitcoin SV and Tether. Regarding Bitcoin Tron has risen to 722 Satoshi, that is 13.15 per cent.

Causes Tamuna

Now all attention is chained, cryptocommunist to the start of the token BitTorrent. BTT will be the native cryptocurrency for the BitTorrent Protocol, which is used in the most popular torrent platform. According to the latest press release from team Tron, users will be able to receive awards in BTT for distributing files. The token is based on the standard Tron TRC-10.

The event is not neglected by even the founder of one of the largest kryptomere, Chanpen Zhao. In Twitter he called the development of the BTT “a very interesting subject to study.”

Should you buy the TRX now?

Judging by the 1-day schedule, the asset is preparing for a pretty strong pullback. TRX closed each candle in this time frame bullish growth, so the technical indicators are saying about buy coins. RSI has reached its “ceiling”, jumping above the 80 mark. In the near future the price will start to decline, we loved to watch the auction.

Source: CCN

By the way, the first stage of the pullback has already begun. The probability of subsequent growth still remains in question, do not rush to open long positions on every decline. The best option for the bulls will be the consolidation of the TRX with the subsequent formation of a bullish flag. Final confirmation for long will increase above 0,03107 dollar.


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