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Tron (TRX) Price Analysis: Bulls Aiming Fresh Break Above $0.017

Tron price is recovering nicely and trading well above the $0.0150 support against the US Dollar. TRX price is showing positive signs above the $0.0155 and $0.0160 levels. There was a break above a key bearish trend line with resistance near $0.0160 on the 4-hours chart (data feed via Bitfinex). The pair is likely to

The post Tron (TRX) Price Analysis: Bulls Aiming Fresh Break Above $0.017 appeared first on Live Bitcoin News.

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  • Tron price is recovering nicely and trading well above the $0.0150 support against the US Dollar.
  • TRX price is showing positive signs above the $0.0155 and $0.0160 levels.
  • There was a break above a key bearish trend line with resistance near $0.0160 on the 4-hours chart (data feed via Bitfinex).
  • The pair is likely to continue higher if it clears the main $0.0170 resistance zone.

TRON price is slowly moving back into a positive zone against the US Dollar, similar to bitcoin. TRX price must break the $0.0170 barrier for more upsides in the near term.

Tron Price Analysis

In the past few days, TRON price followed a bearish path from the $0.0185 resistance against the US Dollar. TRX price broke a few key supports near $0.0170 and the 55 simple moving average (4-hours) to move into a bearish zone.

The price finally broke the $0.0160 support and tested the $0.0150 support. A low is formed near $0.01505 and the price is currently recovering. It broke the $0.0155 and $0.0158 resistance levels.

The bulls pushed the price above the 23.6% Fibonacci retracement level of the downward move from the $0.0185 high to $0.0150 swing low. Moreover, there was a break above a key bearish trend line with resistance near $0.0160 on the 4-hours chart.

It seems like tron price might continue to rise in the near term above $0.0165. The first major resistance is near the $0.0165 level and the 55 simple moving average (4-hours).

The 50% Fibonacci retracement level of the downward move from the $0.0185 high to $0.0150 swing low is also near the $0.0168 level. Therefore, the price must break the $0.0168 and $0.0170 resistance levels to start a strong increase. In the mentioned case, the price might revisit the $0.0185 level.

On the downside, an initial support is near the $0.0158 level. The main support is now near $0.0155, below which there is a risk of more losses below the $0.0150 support.

Tron Price

Tron Price

The chart indicates that TRX price is clearly trading attempting a major upside break above the $0.0160 level. However, the bulls need to clear the $0.0170 resistance zone to initiate a major upward move in the coming sessions.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is currently gaining momentum in the bullish zone.

4 hours RSI – The RSI for TRX/USD is now just above the 50 level.

Key Support Levels – $0.0158 and $0.0155.

Key Resistance Levels – $0.0168, $0.0170 and $0.0185.

The post Tron (TRX) Price Analysis: Bulls Aiming Fresh Break Above $0.017 appeared first on Live Bitcoin News.

Source: https://www.livebitcoinnews.com/tron-trx-price-analysis-bulls-aiming-fresh-break-above-0-017/

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Uniswap could be a stumbling block for DeFi decentralization

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Unsiwap’s governance vote has been a hot and controversial topic, with questions raised surrounding its centralisation

There are concerns that an Ethereum flash crash may happen when UNI mining is concluded in November. Industry experts have embarked on finding more flaws in addition to the centralisation concerns resulting from Uniswap’s first governance vote.

The last whale account took the proposing side of Dharma. The conclusion of the vote, therefore, means only a handful of addresses with the majority of UNI tokens will have governance power.

It is worth noting that three addresses accounted for nearly all 39.5 million votes in support of the proposal, with only about 700,000 in opposition. The Dharma and Gauntlet proposals’ approval gives them a majority if they agree on any upcoming decision. However, this isn’t the only thing to worry about.

According to Ryan Berckmans from Predictions Global, the governance could be a hindrance to the DeFi sector. Berckmans also predicts that the central control could impact volatility on Uniswap.

Another concern is the conclusion of UNI liquidity mining on November 17. Berckmans points out that about $800 million in Ethereum will be pulled out from the pools when they ultimately expire. This, in turn, could result in a flash crash and even disrupt the whole decentralised finance sector.

In his opinion, the feasible way of keeping the sector stabilised is by perpetuating the UNI farming incentive. He also recommended designating executives to act as governance officers similar to what Ethereum has adopted with Tim Beiko and the new EIP 1559 fee proposal.

Source: https://coinjournal.net/news/uniswap-could-be-a-stumbling-block-for-defi-decentralization/

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Cryptocurrency exchange Binance: closing Jersey branch

Binance is shutting down its Jersey subsidiary less than two years after launching The Jersey branch was launched to tap into more of the European market The subsidiary fell short of financial goals The global leader in cryptocurrency exchange, Binance, has announced its Jersey subsidiary (a British dependency) will be closing imminently with accounts inaccessible […]

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  • Binance is shutting down its Jersey subsidiary less than two years after launching
  • The Jersey branch was launched to tap into more of the European market
  • The subsidiary fell short of financial goals

The global leader in cryptocurrency exchange, Binance, has announced its Jersey subsidiary (a British dependency) will be closing imminently with accounts inaccessible by 30th November. Designed to access the European market for fiat-to-crypto currency trading, it was hoped the Jersey venture would be a vehicle for significant expansion.

Expectations do not seem to have been met. The cryptocurrency exchange has reassured users in Jersey that they will still have access to its main cryptocurrency exchange platform. Binance Jersey will begin restricting new deposits from the end of this month. Final trading and withdrawals in pairs and currency will end on 9th November. Yesterday’s trading generated only $202,743. The native crypto coin has also fallen, producing only $5,500 as a BNC/EUR trading pair.  

Binance UK launch

In June of this year, plans were announced regarding a Binance UK platform, with the same focus on fiat-to-crypto currency exchange as its Jersey, Singapore, US, and Uganda branches. At the time, Binance UK was intended to be run independently of Jersey. This is intended to be an alternative access point to the European market, whilst regulated by the UK’s Financial Conduct Authority (FCA).

The FCA will be keeping a close eye on the cryptocurrency exchange, following recent scandals. In 2019, chief executive, Changpeng Zhao, asked users’ forgiveness in an emotional Youtube plea after a security breach resulted in a $40m hack. More recently, in April 2020, the global exchange was caught up in embezzlement charges alleging that funds had been misappropriated and mismanaged.

The appointment of Teana Baker-Taylor, previously Head of Global Strategy at HSBC, to Binance UK Director indicates a more traditional and conservative approach to this UK venture.

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Ethereum 2.0 could be two months away or less

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Based on updates from the developers involved in the project, Ethereum 2.0 could be six to eight weeks away from completion

It has been a week since the second testnet (Zinken) was successfully deployed for Ethereum 2.0. The success of the second trial watered down any doubts and concerns from the first Spadina testnet that it was to be a failure.

Developer Ben Edgington shared an update on the Ethereum 2.0 project yesterday, detailing news from the Beacon Chain testing. The update revolved around the publishing of the first release candidate for Phase 0.

The post read, “Your newest news in #Ethereum 2.0 is here! https://t.co/97X85jdCzM. Sorry it’s a bit late, and a bit rushed. I took some time off; it was nice 😎 Back now, refreshed and raring to go 🚀”

Edgington asserted that the deposit contract was now ‘good to go’ and hinted that the Beacon Chain genesis would be available in about six to eight weeks. Of course, this is only an estimate, and there’s no guarantee that things will turn out that way. So far, there hasn’t been an announcement regarding the official launch date.

He also talked about depositing to fake contracts — a possible likelihood in the subsequent stages.

“Many fake deposit contracts and Launchpad front-ends will erupt in the coming days. Look out for the official announcements: do not send Eth to random contracts; this is not DeFi.”

The developer emphasised the need for more client diversity around the network, saying that the collective effort would be crucial in the success of the project. He went on to add that Prysm was still the leading player after the firm developed its own ETH 2.0 client.

Source: https://coinjournal.net/news/ethereum-2-0-could-be-two-months-away-or-less/

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