TRONUSD: A pair to keep on your watchlist

Hello,

Another coin pair or coin available in the market to look out at is TRONUSD or Tron. According to Wikipedia, Tron (stylized as TRON) is a decentralized, proof-of-stake blockchain with smart contract functionality. TRON adopts a 3-layer architecture divided into storage layer, core layer, and application layer. The TRON protocol adheres to Google protocol buffers, which intrinsically supports multi-language extension.

Very important for investors to remember is that the TRON coin is very different from the TON coin. TRON has a market cap of $23.29B with an average volume of $716.35M in 24 hours. While the maximum supply of this coin remains infinity (acting against the coin), the current total supply of the coin is 94.95B coins (circulating supply).

From a technical point, the pair is currently undergoing a correction and may present better buying/holding opportunities in the future. Both the moving averages and the MACD indicator show that better buying opportunities will come once the pair moves closer to the moving averages or the MACD does a zero crossover.

What might cause the correction is the SEC legal challenges against Tron founder Justin Sun over alleged securities law violations and undisclosed celebrity endorsements. The support the current president is giving to the crypto markets might also be the catalyst for the next move to the upside. We see this as a great coin to add to your watchlist going forward due to the potential opportunities it has.


Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.