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  • TRON’s TRX has recovered strongly from recent lows.
  • TRON Foundation published a positive weekly report on project updates.

TRON (TRX) catapulted to the 13th position in the global cryptocurrency rating. The coin has gained nearly 3.5% of its value in recent 24 hours. At the time of writing, TRX/USD is changing hands at $0.0158, off the recent low of $0.0139 reached on September 6.  

TRON Foundation published a weekly report, stating the key achievements of the project. Thus, according to the published statistics, TRON block height exceeded 12.45 million, while the total number of dApps (decentralized applications) amounted to 567. The network has the lowest development and usage costs and boasts of the fastest dApp increase among public chains.

Read also:  TRON nose-dives below $0.0150 amid strong bearish sentiments

TRON’s technical picture

The initial support is created by a combination of the middle line of 4-hour Bollinger Band and SMA50 (Simple Moving Average) 4-hour on approach to $0.0154. If it is broken, the sell-off may be extended towards $0.0140. On the upside, we will need to see a sustainable move above $0.0160 for the recovery to gain traction with the first aim at $0.0165 created by the upper line of 4-hour Bollinger Band.

TRX/USD, 4-hour chart