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  • TronWallet application for Android is already on Google Play, iOS version of the app coming soon.
  • The new TronWallet embodies the power of Tron Network.
  • The 100 simple moving average is also limiting upside movement at $0.0337.

The extended declines that took place towards the close of the trading session yesterday have exhausted the sellers after reaching extremely oversold levels. Tron plunged, even more, today to trade as low as $0.0323 after opening the day’s trading around $0.0337. However, it did not stay down for long, besides the price is currently battling to shake off the resistance of the descending trendline as seen on the chart.

In other news, Tron Foundation has today announced the launch of the TronWallet application for the Android operating system. Users can already download the application on Google Play. Moreover, the team is working on the iOS version of the app which will come soon. The announcement was made on Tron Foundation Twitter and it reads:

“TronWallet is now available on Android! Send, receive, freeze $TRX, vote for the Super Representatives, participate in token sales from your phone with this decentralized wallet built by Getty/IO! iOS version available soon.”

The new TronWallet embodies the power of Tron Network. It is both decentralized and works with Android and iOS devices. Significantly, using the wallet comes at no extra fee as the transactions have been made absolutely free. In addition that the wallet has not just a beautiful design but a practical one that achieves a fast and intuitive user experience. It supports privacy as it does not ask for private keys from the users. As mentioned above it is fully decentralized and requires no login and signup among other amazing features.

Tron price analysis

Aside from the descending channel resistance, the 100 simple moving average is also limiting upside movement at $0.0337. However, the trend is bullish and technical indicators are sending bullish signals. For instance, the stochastic is at 80% while the MACD momentum indicator is advancing into the positive region. Tron must break above the critical resistance at $0.034 in order to curve a retracement curve towards other higher levels above $0.035. In the meantime, the support at $0.0330 must continue to hold for Tron to stay away from declines towards $0.032.

TRX/USD hourly chart