- Deposits on Indodax will begin on June 4 while trading will start on June 5 using TRX/rupiah trading pair.
- A bear trend is in progress, TRX/USD could test $0.058 – $0.0560 support zone.
Tron price has begun the independence journey with a listing on Indonesia’s biggest cryptocurrency exchange Indodax. Tron’s market capitalization stands at approximately $4 billion and the launch of its own blockchain is expected to speed up the growth of the digital asset. The first trading pair will be TRX/rupiah and the deposits are scheduled to kick off on June 4 while the trading will commence on June 5. The announcement from Indodax when translated reads:
“Tron was chosen because this token is in the top 50 of CoinMarketCap, so it doesn’t need to go through a community coin voting process. This is consistent with our mission to always add quality digital assets at Indodax.com.”
Tron price analysis
Tron price has broken out of the ranging channel during the Asian trading hours on Monday. Moreover, the support zone at $0.0615 – $0.0600 failed to support the crypto during the declines. There is a bear trend in progress at the time of press and TRX/USD is exchanging at $0.0595. The buyers are battling to find support above $0.0590 to prevent a slide to the lower levels. The price is trading below the moving averages while the MACD is moving further in the negative (-0.0006) indicating that the selling pressure is increasing in the near-term. A break past the short-term support at $0.5900 could test the next demand area at $0.058 – $0.0560.
TRX/USD 15′ chart
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