TRX/USD has retreated from the intraday high amid technical correction. The next bullish target is created by psychological resistance of $0.0200. TRX/USD is changing hands at $0.0195, off the intraday high of $0.01990. The coin has gained nearly 6% on a day-to-day basis moving in sync with the market. Notably, TRX/USD is the 16th largest digital asset with the current market value of $1.39 billion and an average daily trading volume of $587 million. Tether mints Tron-based USDT Tether minted 300 million Tron-based USDT, according to Whale Alert service that tracks large transactions with cryptocurrencies. Paolo Ardoino, the CTO of Tether and Bitfinex explained that the new lump of stablecoins had been issued to restock the inventory on Tron network. However, the cryptocurrency users seem to be doubtful and concerned about Tether issuance policy. Basically, many people do not believe that USDT is not fully backed by the US Dollar. TRX/USD: Technical picture On the daily chart, TRX/USD moves towards the upper line of the daily Bollinger Band at $0.01930. If it is broken, the price may continue moving inside the BB towards its upward-looking middle line at $0.01800. This barrier may stop the correction and attract new buyers to the market. However, if it is cleared, $0.01700 will come into focus. This support is reinforced by 50-day SMA that have been limiting TRX decline since the end of April. On the upside, the critical resistance comes at $0.0200. This psychological barrier is reinforced by a combination of 100-week SMA and the upper line of the weekly Bollinger Band. A sustainable move above this area is needed for the upside to gain traction with the next focus on $0.2680, the highest level of 2020 reached in February. TRX/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Gold slides below $1950 amid some repositioning trade ahead of FOMC FX Street 3 years TRX/USD has retreated from the intraday high amid technical correction. The next bullish target is created by psychological resistance of $0.0200. TRX/USD is changing hands at $0.0195, off the intraday high of $0.01990. The coin has gained nearly 6% on a day-to-day basis moving in sync with the market. Notably, TRX/USD is the 16th largest digital asset with the current market value of $1.39 billion and an average daily trading volume of $587 million. Tether mints Tron-based USDT Tether minted 300 million Tron-based USDT, according to Whale Alert service that tracks large transactions with cryptocurrencies. Paolo Ardoino, the CTO of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
