Tron (TRX) has experienced a 1.5% increase in price over the past 24 hours, trading at $0.089180 as of 6:41 am EST. The cryptocurrency has managed to maintain gains above $0.0830 since August 19, attracting the attention of buyers. Additionally, TRX’s trading volume for the day has seen a 19.5% increase, reaching $363 million, and its price has risen by 4.3% over the past week.
Despite an overall upward trend, Tron TRX is currently facing intensified bearish pressure, as indicated by a red candlestick. However, this upward trend is supported by the presence of the 50-day and 200-day simple moving averages, which are currently trading below the price at $0.072 and $0.081 respectively. The 50-day SMA also acts as immediate support for the Tron TRX price. On the other hand, the Relative Strength Index (RSI) has shown a downward movement, crossing below the overbought zone of 70 and currently trading at 68.
Considering these factors, Tron TRX maintains a bullish bias with an ascending triangle and support from the simple moving averages. If buying pressure persists, bulls may push the price above the triangle towards the $0.1 mark. However, if selling pressure continues, bears could gain strength and drive the price down to the $0.084 support zone or even further to $0.079.
Bitcoin Minetrix (BTCMTX) is currently in its presale stage and has already secured funding amounting to $426,128. The platform offers an enticing investment opportunity with its low-priced presale and stake-to-mine feature. With ten presale stages, investors can purchase BTCMTX tokens at a discounted price of just $0.011 before it increases by 10% in each successive stage. Bitcoin Minetrix aims to become one of the major players in the cryptocurrency space, with a soft cap exceeding $15 million and a hard cap of $32 million.
The project introduces an innovative concept called Stake-to-Mine, which combines cloud mining and token staking. This approach ensures security and transparency by tokenizing cloud mining and eliminating risks associated with third-party schemes. The platform has already gained significant adoption, with over 5 million BTCMTX tokens staked within the pool. Experts in the industry have praised Bitcoin Minetrix as a reliable and secure way to invest in Bitcoin mining.
Token holders can convert BTCMTX tokens into mining power, allowing for passive token generation through the staking mechanism. Currently, the project generates 158.5 tokens for every Ethereum block, resulting in an impressive annual percentage yield (APY) of 1611%. However, it’s important to note that as more investors stake their tokens, the APY will gradually decrease. To take advantage of this high APY percentage, it is recommended to invest early.
In conclusion, Tron TRX continues to show upward momentum despite intensified bearish pressure. Bitcoin Minetrix offers an exciting investment opportunity with its presale and stake-to-mine feature. Don’t miss out on these opportunities to potentially profit from the cryptocurrency market.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.