Tron TRX Price Prediction as Binance Adds TRX to Index – Time to Buy?
Tron price has remained relatively unchanged over the last 24 hours. The smart contracts token dodders at $0.0625 on Tuesday. A bullish breakout may occur if TRX manages to stay above the support at $0.0620. With an ascending triangle pattern waiting for validation on the four-hour chart, Tron price may complete a 10% move from its current market value to $0.0685.
Tron debuts on Binance and CoinMarketCap Index
Justin Sun, the founder of Tron, announced via Twitter that TRX is now available on the Binance and CoinMarketCap (CMC) top ten index. According to Binance, this is an Equal-Weighted index.
The index tracks the performance of the top 10 digital assets and currencies based on market cap data provided by CMC. In a blog post, Binance revealed:
“Each asset in the index is equally weighted and rebalanced on a monthly basis, and the index is denominated in USD. Binance will refer to this index, as well as other indices that will be launched in the near future, when launching new Binance products in the future,”
Market participants using the index will be able to buy digital assets through Auto-Invest – a platform that automates “cryptocurrency purchases via Dollar-Cost Averaging (DCA).” However, the index is not available for use until November 2022. Binance will confirm the specific date for its release.
Tron Price Prediction: TRX Could Nurture A 10% Bullish Move
Tron price’s rebound from support formed at $0.059 has sustained an uptrend, bolstered by an ascending trend line. Although buyers appear to be getting stronger by the day, they are yet to break above the horizontal resistance at $0.064.
With an ascending triangle pattern appearing on the four-hour chart, Tron’s price is looking at a 10% move upward from its current price at $0.0625, should it break above $0.065 in a meaningful way.
The ascending triangle is a bullish pattern that marks the continuation of the asset’s previous trend. This pattern shows that Tron has a higher probability of regaining the lost ground to $0.0685 than retesting support at $0.0590.
Furthermore, the Moving Average Convergence Divergence (MACD) position on the four-hour chart reveals that Tron is in the bulls’ hands. The odds favor a northbound price action as long as the MACD stays above the mean line. Traders looking for long positions must confirm the 12-day EMA (Exponential Moving Average), blue, above the 26-day EMA, red, before triggering their orders.
Diversifying Investment Portfolios With IMPT
Tron price could offer investors considerable gains as it recovers toward the $0.1000 mark but it may take some time to happen. For quicker gains, some crypto experts are looking at the upcoming green crypto IMPT for an early opportunity to diversify their ESG portfolios.
IMPT is an eco-friendly crypto that has the potential to bag 50x gains after its launch if other, recent presales are anything to go by.
Investors can purchase IMPT at the current price of $0.018 per token using the link below. Note, prices will be increasing to $0.023 in the next stage of the sale so interested users may have to hurry.