- Both buys and sells order are eligible for the competition.
- The area at $0.040 is a significant hurdle, but the key resistance is seen at $0.042.
Tron network has been a beehive of activities in the month of June. It started with the release of its protocol on May 31. The mainnet was officially been launched and the TRX tokens have been moved from Ethereum blockchain. Tron had it its Independence Day June and held its first representative in the same month.
Tron founder Justin Sun announced a trading competition on the largest cryptocurrency exchange, Binance. The network will be giving way 10,000 TRX and the competition will kick on June 29 to July 6. Both buys and sells order are eligible for the competition. The announcement on Binance website reads:
“Users will be ranked in terms of the total TRX volume traded on their Binance account (including both buys and sells, excluding wash trades) across all TRX trading pairs during the competition period.”
Tron price analysis
Tron price is trading within a descending channel. The price ignored a couple of support zones during the latest declines below $0.040 at $0.044 and $0.042. TRX/USD is currently dancing with $0.0387 while a shorter support has been formed at $0.0380 for the intraday trading on Thursday. A weak bullish trend is forming, similarly, the moving averages signal that buying entries could increase in the short-term. The area at $0.040 is a significant hurdle at the moment, but the key resistance is seen at $0.042.
TRX/USD 1-hour chart 
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