- Tron is supported by positive fundamental developments.
- Technically TRX/USD is overbought and ripe for a correction.
Tron demonstrates an impressive resilience and strong bullish momentum, driven by the recovery of the broad cryptocurrency market and positive fundamental developments within Tron’s ecosystem.
The founder of Tron Foundation is famous for his aggressive marketing strategies aimed at luring dApp developers to Tron’s blockchain. It seems that his efforts have started to bear fruits as initially Ethereum-based application Lordless announced the decision to join TRON Arcade fund.
The Fund, created in October 2017, supports blockchain games developers and promotes wider adoption of the technology. TRON Foundation announced the plans to invest $100 in the Fund within the next three years.
“We are excited to announce top Ethereum dApp @LordLessIo intends to join TRON Arcade,” the Fund announced in Twitter.
Earlier, a popular Ethereum-based application EtherGoo moved to Tron’s blockchain.
Meanwhile, TRX/USD gained over 10% on a day-over-day basis and became a clear market leader on Monday. Currently, the coin is changing hands at $0.0256, off the recent low touched at $0.205 amid global crypto sell-off. The coin has nearly doubled its value in recent 30 days and moved to the 9th place in Coinmarketcap’s rating.
However, Tron is somewhat overbought at this stage, which means that the downside correction may be triggered rather sooner than later.
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