TRON is a decentralized content-sharing platform that uses peer-to-peer blockchain technology. It can take the place of social media because it allows content creators to create and share their content anytime, anywhere in the world. TRX is the native token of this blockchain used to pay for the content.
It is a very famous platform for gambling and other forms of online entertainment. It uses a similar monetization technique in decentralized versions as an alternative to traditional social media companies.
TRON has already partnered with prominent corporations such as oBike, a Singapore-based leading bike-sharing company in Southeast Asia. They launched their own coin as oCoin and enabled users to earn such coins by making bike rides.
TRON has also made a partnership with ZAG-S&W, a leading law firm. It offers comprehensive support to digital assets, operations, legal adoption, and risk management. It is a strategic partnership with the aim of sustainable development.
The Tron Foundation is a Non-Profit Organization in Singapore, and it operates the crypto network with fairness, openness, and transparency.
TRON empowers artists and content creators worldwide, and it is leading a movement towards the Third Web or Web 3.0. In the real world, users’ data can be used by corporations, but in a decentralized system, TRON has put the power back in the user’s hand.
At the time of writing, TRX was trading around $0.063. If you look at the daily chart closely, you can find a strong support level around $0.060, and recent daily candlesticks are forming in the lower half of the Bollinger bands; that is why we think the price may consolidate between a range of $0.064 and $0.060.
The MACD line indicates bearish momentum, but RSI is stable at around 50. We think it is not the ideal time for short-term investment. However, should you invest in TRON for the long term? Read TRX price prediction to know the answer!
On the weekly chart, the TRX price is consolidating in the lower half of the Bollinger Bands. Moreover, the MACD line and RSI are neutral, which indicates a sideways movement for a few weeks. We think $0.075 will work as a strong resistance level, and TRON can be a good long-term investment when it crosses that level.
Now, $0.060 may be a good price to buy TRX tokens for the long term. Keep a closer look at the price chart because the price can be very volatile.
