- TRON is sliding amid global crypto sell-off.
- Pornhub adds TRX as the payment option.
Tron, now the 12th largest digital coin by market capitalization, is changing hands at $0.0289. The coin has recovered from Sunday’s low at $0.0281, but the upside is capped by 50 and 100-SMAs (1-hour chart) at $0.0295 and $0.0297 respectively. TRX/USD is down nearly 4% on a daily basis and virtually unchanged since the beginning of Tuesday.
The news that the most popular website with adult-only content Pornhub now accept TRX as payment for premium access did little to support the coin.
Tron Foundation published a detailed instruction on how to activate Tron payment option in one’s Pornhub account. Tron’s founder Justin Sun welcomed the announcement in his Twitter account; however, the crypto users seem to be less enthusiastic about this way to promote Tron’s adoption.
From the technical point of view, TRX/USD needs to climb above $0.03 to mitigate the bearish pressure. Once this area is cleared, the focus will shift onto $0.0318 area, strengthened by 200-SMA (1-hour chart). On the downside, a sustainable movement below $0.028 will trigger more sell-off with the ultimate aim at $0.023 (2018 low).
TRX/USD, 1-hour chart
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