Sun Token and BitTorrent soar as Justin Sun’s cryptos jump
Justin Sun's Cryptocurrencies Surge: On August 21, Justin Sun's cryptocurrencies, including Sun Token and BitTorrent, experienced significant price increases, with Sun Token rising over 50% and BitTorrent jumping over 25%, driven by positive ecosystem developments such as the launch of the SunPump platform.
Tron's Ecosystem Growth: Tron has established itself as a leading blockchain with over 2.36 million active addresses and a market cap exceeding $59.54 billion for stablecoins, while its total value locked reached $750 million, indicating robust growth in both the Sun Token and BitTorrent ecosystems despite fluctuations in Bitcoin and the overall crypto market.
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Technical Analysis for TRX
Technical Sentiment Analysis for TRON (TRX) As of , TRON (TRX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TRX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TRON (TRX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.241 | 0.255 | 0.268 | 0.282 | 0.295 | 0.309 | 0.323 |
| Fibonacci | 0.255 | 0.265 | 0.271 | 0.282 | 0.292 | 0.299 | 0.309 |
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