TRX/USD gains 3.5% after a strong resistance of $0.0150 gives way

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  • The number of TRON-based dApps continues growing.
  • TRX/USD is the best performing coin out of top-20 in Sunday.

At the time of writing, TRX/USD is changing hands at $0.0152. The coin has gained over 3.5% of its value in recent 24 hours and stayed unchanged since the beginning of the day. TRX is one of the best-performing altcoins out of top-20. The coin hit the bottom at #0.0117 on September 24 and has been growing slowly ever since.

TRON-based dApps on the rise

A number of decentralized applications based on TRON’s protocol continued to grown and hit 622 in total in the previous week, which is a 6.5% gain, according to the latest research.

TRON-based BTFS protocol launched int he third quarter of 2019 provides dApp developers with a set of useful tools for the decentralised storage networks. 

“According to @dapp_review, the number of TRON DApps reached 622 in total with 38 new DApps. Both the number and volume of transactions have picked up since last week. Also TRON-based BTFS protocol launched its mainnet in Q3, 2019,” TRON’s founder Justin Sun wrote recently on Twitter.

TRX/USD, the technical picture

Looking technically, a strong move above  $0.0150 improved the short-term technical picture and created a strong momentum that helped to push the price towards the next barrier at $0.0152. It is created by a combination of the middle line of one-day Bollinger Band and SMA200 (Simple Moving Average) on the four-hour chart.  Once it is out of the way, the upside is likely to gain traction with the next focus on $0.0157 (SMA50 daily) and psychological $0.0160.

On the downside, psychological $0.0150 is likely to slow down the bears and serve as a jumping-off ground for another recovery wave, if it is broken the bearish pressure may increase. The next barrier awaits us on approach to $0.0148 (SMA10, four-hour). It is closely followed by the middle line of four-hour Bollinger Band ($0.0145) and SMA50 four-hour ($0.0141).

TRX/USD, daily chart

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