Tron (TRX) has yet to make a major recovery even as the rest of the market seems to have rebound. However, in the day charts, Tron (TRX) looks set to make some major moves, with the price holding strong along the $0.036 support level for 4 days in a row. That’s an indicator that there is strong buying momentum around this price level. Selling volumes are declining too, an indicator that the Tron (TRX) price decline may be coming to an end. In the last 12 hours, TRX is trading in a tight range along the 21-day moving average, with $0.036 offering significant support.
This goes to show that there is significant buying accumulation taking place at the moment. If it breaks out in the next 12-24 hours, Tron (TRX) will most likely test $0.045 to the upside. This is a psychological price level at which Tron (TRX) has experienced some profit taking in the past. The fundamentals also support a Tron (TRX) breakout with the upcoming Tron Virtual Machine launch on the 31st of July. Investors expect the TVM to increase the number of developers on the Tron blockchain, and this is likely to play a role in anchoring Tron’s value in the short-term.
XinFin (XDCE) has been making huge moves that all add to its overall value. It has recently launched a hybrid blockchain lab at the University of California Berkeley. The XinFin team has also launched a Multisig wallet that will give this crypto a footing in banking, retail and a multitude of other industries. These moves reflect in the XinFin (XDCE) weekly chart, where volumes have rose significantly. It’s an indicator that there is a huge investor interest in this crypto at the moment. In the day, XinFin (XDCE) is pushing higher after bouncing off a major support level at $0.0041. Volumes too have surged in the last 24 hours, an indicator that there is some strong buying pressure in XinFin (XDCE).
If volumes continue to rise, XinFin (XDCE) is likely to test $0.0045 in the next 24 to 48 hours, which is the next major resistance level to the upside. If it breaks above that, it could hit $0.005 within the week.
Ethereum Classic (ETC)
Ethereum Classic (ETC) was one of the best performing cryptos last week, and looks set to outperform the market again this week. In the day, Ethereum Classic (ETC) has broken above three key resistance indicators that is the 21, 55 and the 100-day moving averages.
If this momentum holds strong, Ethereum Classic (ETC) could test $22 in the next 24 to 48 hours. $22 is a major resistance level, along the 200-day moving average. Ethereum Classic’s rise can be confirmed in the last 12 hours, where it is trading strongly above the 200-day moving average. If volumes increase and ETC breaks above $22, it could head higher and test $25. It offers a favorable risk/reward level at the moment.