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TRX Price Analysis: Price Gains Foothold at $0.05 To End the Week

This follows with the rest of the crypto market, as mild recoveries are seen across the board. TRX bullish breakout above the Mar. 20 top at

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TRON (TRX) price has flipped bullish after printing bearish candles for 4 days in a row during a persistent downtrend from the start of the week.

*TRX/USD is edging higher again after the rebound off the lows at $0.051
*TRON is trading in a positive zone above $0.052 and $0.059
*Justin Sun thinks NFTs and DeFi are the waves of the future

TRX/USD is edging higher again after the rebound from the lows at $0.051. TRON’s recent bounce from the ascending trendline support and then a close above 0.057 have put the uptrend back on track. This follows with the rest of the crypto market, as mild recoveries are seen across the board. TRX bullish breakout above the Mar. 20 top at $0.068 would trigger a new round of rally. Presently, TRON is trading in a positive zone above the $0.052 and $0.059 support levels as the price gains foothold above $0.05 to end the week on a positive note. Ranking 22nd largest, TRON market valuation stands at $4.3 billion with a 24-hour trading volume of $2.22 billion.

TRON CEO Believes Next-Generation Traders Will Prefer NFTs and DeFi

TRON CEO Justin Sun believes NFT and DeFi are the waves of the future. He stated that the new generation of investors is not like their predecessors, where everything is going digital. This came after American actress and singer Lindsay Lohan spoke about plans to launch a new exclusive NFT on the TRON blockchain. TRON is also looking to expand its support for DeFi and NFT in the coming days. The CEO recently revealed that the TRC-721 specification, TRON’s first indispensable token (NFT) standard, is now publicly available. TRON’s NFT standard aims to open up new possibilities for applications built on its blockchain and its debut dates back to Dec. 2020.

TRX Daily Chart: Bullish TRX/USD Daily Chart

TRON has risen back well from the prior day’s low of $0.051. This keeps alive the chances of seeing $0.070 on the upside before any reversal is seen. Technical indicators suggest buying signals on the daily time-frame chart. The RSI has popped up from the mid 50 reading, swaying bullish. TRON price is likely to continue to climb in an ascending trend line pattern during the coming sessions.

From a bigger picture, the upside may be capped by the immediate resistance at $0.068 and then at the yearly high of $0.070. A corrective fall in the range between $0.051 to $0.060 may be seen as a result. Support awaits at $0.051 located at the MA 50, followed closely by $0.046 and then $0.037, a cushion from February.

TRX 4-Hour Chart: Bullish TRX/USD 4-Hour Chart

Looking at the 4-hour chart, the TRX/USD pair traded as low as $0.052 before starting a fresh increase. There was a break above a key bearish trend line leading to the subsequent breach above the MA 50 resistance at $0.059. The pair is now trading well above the 4-hour moving averages of 50 and 200. However, the immediate resistance at $0.068 could provide an impediment for TRX/USD bulls in the shorter term.

Once surmounted, the TRX/USD pair is likely to accelerate higher above the yearly high at $0.070. If there is a fresh decline, the $0.062 level is likely to act as immediate support. The main support is now forming near the MA 50 zone at $0.059. Any more losses might call for a drop towards the MA 200 level at $0.052 where the bulls may give the upswing another chance.

Key Levels
Resistance Levels: $0.075, $0.070, $0.068
Support Levels: $0.056, $0.051, $0.046

Image Credit: Tradingview

Note: coinpedia.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event.

TRON has risen back well from the prior day’s low of $0.051. This keeps alive the chances of seeing $0.070 on the upside before any reversal is seen. Technical indicators suggest buying signals on the daily time-frame chart. The RSI has popped up from the mid 50 reading, swaying bullish. TRON price is likely to continue to climb in an ascending trend line pattern during the coming sessions.

Source: https://coinpedia.org/price-analysis/trx-price-analysis-price-gains-foothold-at-0-05/

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Coinpedia

Polygon(MATIC) Price Smashed The Milestone Above $2, Is $3 Imminent?

Polygon(Matic) price hit the milestone in the early trading hours, yet appears poised to rise to higher levels above $3

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MATIC Price Forms New Highs

Polygon (Matic) price in recent days stood strong despite a huge market correction, above $1. No doubt small pullbacks below $1 were also a part of the rally, yet it bounced off well to regain the lost positions.

In a very surprising move, the matic price flipped the bearish trap and bounced from levels below $1.6 to the current levels above $2. Moreover, the intensified bull run showcases the price is self assured to hit the next resistance levels around $3 to $3.2.

matic jumping

Currently, Matic broke the upper resistance levels of the parallel channel and flew high above $2. Therefore, the next target to hit before the daily close is around $2.4 to $2.45 . Once these levels are achieved successfully, $3 is imminent.

Also Read: MATIC, BNB, LINK, and SUSHI Poised to Erupt Soon, Hints Analyst

Polygon Transactions More Cheaper Than Ethereum

It is a known fact that the gas fees are extremely high on Ethereum platform. Despite a couple of upgrades, the issue has yet to be fixed. And therefore many looked out for other options to get rid of the fees.

However, the polygon network has emerged as one of the most cost effective platforms than Ethereum.

The above is the comparison of the transaction fees of a single day, where the polygon platform accounted for 275% less fees than that of Ethereum. Hence the growing ecosystem fuels the MATIC price rally which is poised to hit higher levels in coming days.

Also Read: Theta Coin Price Rises High Despite A Bloodbath In Crypto Space

However, the polygon network has emerged as one of the most cost effective platforms than Ethereum.

Source: https://coinpedia.org/price-analysis/matic-price-risies-above-levels/

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Coinpedia

Polygon (Matic) Price Continues to Rise Amidst Market Correction!

The MATIC price forecasts are positive as a token supporting such a critical feature right now. After the Ethereum scaling

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Polygon hopes to solve the scalability problem. The MATIC price forecasts are positive as a token supporting such a critical feature right now. After the Ethereum scaling solution merged various common decentralized finance (DeFi ) projects and the number of transactions it handled every day skyrocketed, the price of MATIC has reached a new all-time high above $1.5.

Polygon has handled over 62.4 million transactions and has almost 700,000 wallet addresses, according to data from a MATIC network explorer. It processes 3.3 million transactions a day, each of which costs less than one cent in cryptocurrency.

The cost of transactions on the Ethereum blockchain, on the other hand, reached a new all-time high this week above $64 on average, before plummeting to $31.75 at press time. The network of the cryptocurrency has been co-founded.

Polygon plans to use layer-two sidechains – blockchains that operate alongside the main Ethereum blockchain – to provide quicker and cheaper transactions on Ethereum. Users can deposit ETH into a Polygon bridge smart contract and communicate with it inside the Polygon chain before withdrawing it back to the Ethereum main network.

MATIC is up over 270 percent in the last 30 days, and over 7,000 percent in the last 12 months, thanks to increased demand for the layer-two scaling solution. It’s currently trading near its latest all-time high of $1.51.

Several major DeFi platforms, including Aave, Curve, SushiSwap, 1inch, and others, have been incorporated into the Polygon network in recent weeks. Transactions on its network have exploded as a result of these integrations, as it is now easier to use Ethereum-based DeFi platforms.

MATIC holders will stake their funds to win prizes using Polygon’s Proof-of-Stake consensus algorithm. By partnering with Cent, a platform that tokenizes tweets, the network is also aiming for long-term viability in the non-fungible token ( NFT) space.

According to a recent tweet, SushiSwap has now reached $500 million in total value locked on the Polygon network.

Source: https://coinpedia.org/price-analysis/polygon-matic-price-continues-to-rise/

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Coinpedia

XRP Price Manifest A 2017 Like Warm-Up Rally, $6 Approaching Fast

XRP price after the recent spike initiated with a descending pattern and hence a major breakout is the need of an hour

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Ripple’s XRP price is all set to surge high as it is manifesting a similar bull run of that of 2017 and hence a splendid rally may be foreseen. Recently, XRP underwent a possible burn as the market capitalization and the circulating supply declined all of a sudden.

However, the price appears to have initiated a recovery mode as the price is on the verge to bounce back and accelerate the bull run. As presented by a crypto follower, the XRP price is showcasing a similar warm up pump as in 2017.

According to the chart, the price experienced a steep dump in between the bull rally and resumed the bull run. The price eventually smashed the ATH at $3.84 after completing the correction phase. And hence if the price follows the similar pattern, $6 is all set to be achieved very soon.

Also Read: Analyst Predicts the Future of Dogecoin and XRP! Says XRP Price Will Pump the Hardest!

XRP Price Breakout Imminent!

XRP price, as mentioned before, is trending within a descending channel. After the price hit the yearly highs at $1.76, it soon dipped and entered the channel. However, the price broke the upper resistance levels of the channel and soon dipped too. Due to the fake break out, the price currently is on the verge to reenter the channel.

xrp descending channel

Yet, the price rose significantly and showcased a probable uptrend incoming very soon. At the time of writing, the XRP price is $1.54 with a jump of 1.66% and continuing with an uptrend. However, the prime focus at the current time is a bounceback to the $1.62 levels to continue the uptrend to retest the yearly highs.

Technical Specifications

  • The resistance level of Ripple’s XRP price is currently at $1.62 and later at $1.96
  • The support levels are at $1.42
  • The indicators point out at a buy signal

Also Read: XRP’s Supply And Market Cap Tanked, Is It a Coin Burn Or Technical Glitch?

Also Read: Analyst Predicts the Future of Dogecoin and XRP! Says XRP Price Will Pump the Hardest!

Source: https://coinpedia.org/altcoin/xrp-price-to-breakout-soon/

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