The BillTrade social platform has announced that it is launching operations after months of closed Beta testing and fine-tuning of its infrastructure and business model. BillTrade is an investment
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Tron (TRX) Price Analysis: Bears In Control Below $0.028
- Tron price extended its decline below the $0.0300 and $0.0280 support levels against the US Dollar.
- TRX price is now trading below the $0.0260 support and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $0.0262 on the 4-hours chart (data feed via Bitfinex).
- The pair remains at a risk of more downsides below $0.0250 and $0.0220.
TRON price is following a bearish path against the US Dollar and bitcoin. TRX price is likely to continue lower below $0.0250 as long as it is trading below $0.0280.
Tron Price Analysis
TRON price made an attempt to clear the $0.0300 resistance, but it failed against the US Dollar. TRX price traded as high as $0.0298 and started a fresh decline below the $0.0300 and $0.0280 support levels.
The decline gained pace below the $0.0280 support and the 55 simple moving average (4-hours). It even spiked below the $0.0250 level and traded to a new monthly low at $0.0246. The price is currently consolidating losses near the $0.0250 level.
An initial resistance is near the $0.0260 level, and the 23.6% Fib retracement level of the recent decline from the $0.0298 high to $0.0246 low. There is also a key bearish trend line forming with resistance near $0.0262 on the 4-hours chart.
The next major resistance above the trend line is near the $0.0280 level. The 50% Fib retracement level of the recent decline from the $0.0298 high to $0.0246 low is also near the $0.0280 level and the 55 simple moving average (4-hours).
Therefore, a close above the $0.0280 resistance and the 55 simple moving average (4-hours is needed to start a decent recovery wave. The next major resistance is near the $0.0300 level.
If tron price fails to clear the $0.0262 and $0.0285 resistance levels, there are chances of a more losses. The main support is near the $0.0245 level. A close below the recent low and $0.0245 could lead the price towards the $0.0220 level or even $0.0200.
The chart indicates that TRX price is clearly trading below the $0.0260 support and the 55 simple moving average (4-hours). Overall, the price remains at a risk of more downsides below $0.0250 and $0.0220 in the near term.
4 hours MACD – The MACD for TRX/USD is now losing strength in the bearish zone.
4 hours RSI – The RSI for TRX/USD is currently recovering towards the 40 level.
Key Support Levels – $0.0245 and $0.0220.
Key Resistance Levels – $0.0262, $0.0280 and $0.0300.
Crypto regulations: a growing concern as crypto adoption soars in Africa
With crypto adoption on the rise across the African continent since the beginning of 2020, users are on their toes over the type of crypto regulations that would hit the crypto community. Using data from statistical surveys carried out, Africa is presently showing good signs when it comes to crypto adoption since the beginning of […]
With crypto adoption on the rise across the African continent since the beginning of 2020, users are on their toes over the type of crypto regulations that would hit the crypto community.
Using data from statistical surveys carried out, Africa is presently showing good signs when it comes to crypto adoption since the beginning of this year. Notably, the region has now placed second in the number of Peer-to-peer trades carried out with two countries in the region making the top eight crypto adoption index list which was compiled by Chainalysis.
However, financial regulators across the region are now aware if activities going on in the crypto community, which might prompt a quick response of implementing crypto regulations.
Crypto regulations might hinder the progress of crypto adoption in Africa
Nigeria is presently leading major African countries as it boasts of trading volumes between $5-$10 million weekly. Kenya is currently trying to catch up with Nigeria, as it has been posting weekly trade volumes of around $2 million, while South Africa is showing positive signs too.
A representative of Paxful noted that Africa had witnessed tremendous growth to rank ahead of other continents as its strongest trading region. Meanwhile, the representative was quick to note that countries like Ghana and Cameroon have also witnessed small growths. If crypto regulations are to be enforced, it may limit the active participation in the region drastically.
The exclusivity of financial houses are pushing people to crypto, Luno GM Africa says
Crypto exchanges have also witnessed a high rate of activities on their platforms with Luno, confirming that about $549 million was traded in a combined effort between Nigeria and South Africa last month. Furthermore, the digital asset exchange platform has also seen new user signups increase up to about 122% since the end of last year.
Marius Reitz, the general manager in Luno’s African office, said the exclusivity of the financial houses had driven the majority of the citizens around Africa to crypto. Another angle to the crypto adoption rush is aside from the lack of crypto regulations, the ease of sending funds home through crypto in a bid to avoid the high fees that come with making payments in banks.
Market Analysis Report (23 Sep 2020)
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Only 6 days left to swap NUT/EQ tokens! Users can get the maximum bonus by swapping over 5,000 NUT. Only 32% of the EQ token allocation remains available.
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68% of EQ tokens allocated for the token swap have already been secured and the swap is filling steadily. Both retail NUT holders, as well as venture funds, have participated in the Equilibrium token swap. Among them are Taureon, Signal Ventures, YBB Foundation, PNYX Ventures, and others.
There is still a great opportunity for users who swap > 5,000 NUT to receive the maximum bonus.
Importance of Equilibrium’s new EQ utility token: The missing link
DeFi’s potential has not yet been reached, on the contrary, the currently fragmented market needs to be enabled and connected to reach its potential. For that, blockchains must be truly interoperable.
That is exactly what Equilibrium is achieving with its expansion, building on Polkadot’s technology, and its new product line. On Equilibrium, users will be able to pool and trade multiple assets from any other major blockchain in one convenient place, on one interface, thus achieving maximum liquidity. Its system stability and liquidity will be ensured by a foolproof 3-layered risk management system that proactively solves bad debt, avoids the risk of forced auctions in adverse markets, and thus prevents the kind of situation experienced by MakerDao this Spring.
Advantages of the swap for token holders
NUT will continue to be used for Equilibrium’s initial product line on the EOS blockchain, and there is no obligation to trade in your NUT if you prefer not to. However, NUT will not be usable for the governance or products in Equilibrium’s expanded scope that is cross-chain interoperable. Since this expansion is so promising and fills the key missing link to unlocking the DeFi market’s full potential, the chances are high that holding EQ tokens will pay off. The swap rate is 1 NUT: 75 EQ rate (~$0.3 per 1 EQ) Check the swapping details here.
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