What is TRON?
TRON’s tagline is to “decentralize the web,” and its ecosystem consists of several decentralized applications, some of which are quite well known. However, its primary purpose is to decentralize the content creation and distribution industry, which has received criticism for its censorship and unfair revenue distribution. To this end, TRON provides several tools alongside its protocol to ensure more democratic content creation processes.
Some examples of centralized platforms that have censored videos and held a particularly strong revenue distribution control include YouTube. Indeed, the latter has censored several videos related to the cryptocurrency industry. Monetization is also a commonly discussed pain point related to YouTube. For many whose income depends largely on content, this can have a serious impact on their lives.
The TRON network actually features a number of cryptocurrencies, including BitTorrent Token (BTT), JST, and a TRC-20 based version of the Tether (USDT) stablecoin. TRON has outlined a set of Dapps that work with these tokens, and with BTT at least, that includes BitTorrent Speed, BitTorrent File System, and DLive.
Just (JST) is TRON’s DeFi-focused asset that powers a suite of related services. Within its remit is a stablecoin called JustStable (USDJ); JustLend, a lending platform; and JustSwap, a means to exchange to TRC-20 tokens.
What makes TRON stand out?
On the face of it, there isn’t much that separates TRON from its competitors. After all, all of them could just as well build Dapps that support the same goal as that of TRON. Indeed, many of them already do.
However, with a more focused approach on this matter, TRON perhaps stands a chance to gain ground in this specific niche. With interoperability becoming a focal point of general blockchain development, this could perhaps further cement TRON’s position as a content-focused network.
The unique selling point of TRON is that content on the network can be accessed by anyone, anywhere, with the prerequisite of an internet connection. This helps transcend censorship measures imposed by governments or companies. Several countries with totalitarian governments restrict websites and platforms, and TRON can help in this battle against censorship.
Technical Analysis:
Price has memory. That is a key concept in technical analysis.
One of the basic tenets of the study of price history is “support broken, tends to act as resistance.” The opposite is also a technical analysis maxim, “resistance broken, tends to act as support.” Have you ever considered why you see this play out on a chart so often?
It is simple, it is because of the “anchoring bias.” Briefly, the anchoring bias is the human tendency to rely heavily on the first piece of information encountered when making decisions and then use that initial piece of information to make future decisions.
Think of the price you may have personally paid for a stock. You tend to base your future decisions about that stock based on your purchase price. We calculate risk from that level and we measure our return based on that entry price. For better or worse, we are “anchored” to the price we paid.
Price charts are used in an attempt to understand the collective reasoning and psychology of the participants so we can objectively prepare our trading plan. In the case of traditional (horizontal) support being broken and then acting as subsequent resistance, the more participants who are “anchored” to a price level, the greater a move will become when there is a break of that price point. When price breaks a major level of support, the “trapped longs” will have a propensity to look to get out at “breakeven” the supply from these participants helps to form resistance.
In a trending market, the classic horizontal support and resistance levels are not always obvious. If we want to measure price memory from an “event” the Anchored Volume Weighted Average Price tool is the most effective means to accomplish this task.
First, let’s define an “event.” In the markets, I consider a significant event to be any date from which price movement began or reversed. A short list of such events could be: earnings dates, week to date, month to date, year to date, FDA announcements, Fed announcements or just simple swing highs and lows.
YELLOW ARROWS: These VWAPS were anchored off of significant pullback lows, notice how buyers emerged to defend these levels on subsequent pullbacks. Notice that the longer the anchor point is on the chart, the less sensitive to current price action it will become.
The AVWAP is not just useful on longer term timeframes, it can also reveal some key insights about market behavior on intermediate and shorter-term timeframes
After gapping lower, buyers took control of the TRX and the AVWAP from that swing low provided intraday support on a panic selloff
As buyers became more aggressive on the gap higher, this AVWAP was briefly violated in early December, but then proved to be a good support level as prices stabilized near 0.59
Because of its moving property, the AVWAP can be analyzed in ways like a traditional moving average. Some considerations when using this indicator include; direction and slope of the AVWAP, how far above or below price action is in relation to the AVWAP, etc.
A robust indicator such as AVWAP can be implemented into any trading analysis or strategy. Experiment with various anchor points in you targeted markets and stocks and you will immediately recognize its value. As a stand-alone study or when viewed with other oscillators and indicators, the AVWAP is likely to become one of your favorite analysis tools.
S1 0.61
S2 0.54
S3 0.48
On May 9th 2023 the Donchian Channel breakout has been confirmed by high volatility and volume, RSI +68,a strong sign that the breakout is valid and promissing to start the uptrend
TRON’s tagline is to “decentralize the web,” and its ecosystem consists of several decentralized applications, some of which are quite well known. However, its primary purpose is to decentralize the content creation and distribution industry, which has received criticism for its censorship and unfair revenue distribution. To this end, TRON provides several tools alongside its protocol to ensure more democratic content creation processes.
Some examples of centralized platforms that have censored videos and held a particularly strong revenue distribution control include YouTube. Indeed, the latter has censored several videos related to the cryptocurrency industry. Monetization is also a commonly discussed pain point related to YouTube. For many whose income depends largely on content, this can have a serious impact on their lives.
The TRON network actually features a number of cryptocurrencies, including BitTorrent Token (BTT), JST, and a TRC-20 based version of the Tether (USDT) stablecoin. TRON has outlined a set of Dapps that work with these tokens, and with BTT at least, that includes BitTorrent Speed, BitTorrent File System, and DLive.
Just (JST) is TRON’s DeFi-focused asset that powers a suite of related services. Within its remit is a stablecoin called JustStable (USDJ); JustLend, a lending platform; and JustSwap, a means to exchange to TRC-20 tokens.
What makes TRON stand out?
On the face of it, there isn’t much that separates TRON from its competitors. After all, all of them could just as well build Dapps that support the same goal as that of TRON. Indeed, many of them already do.
However, with a more focused approach on this matter, TRON perhaps stands a chance to gain ground in this specific niche. With interoperability becoming a focal point of general blockchain development, this could perhaps further cement TRON’s position as a content-focused network.
The unique selling point of TRON is that content on the network can be accessed by anyone, anywhere, with the prerequisite of an internet connection. This helps transcend censorship measures imposed by governments or companies. Several countries with totalitarian governments restrict websites and platforms, and TRON can help in this battle against censorship.
Technical Analysis:
Price has memory. That is a key concept in technical analysis.
One of the basic tenets of the study of price history is “support broken, tends to act as resistance.” The opposite is also a technical analysis maxim, “resistance broken, tends to act as support.” Have you ever considered why you see this play out on a chart so often?
It is simple, it is because of the “anchoring bias.” Briefly, the anchoring bias is the human tendency to rely heavily on the first piece of information encountered when making decisions and then use that initial piece of information to make future decisions.
Think of the price you may have personally paid for a stock. You tend to base your future decisions about that stock based on your purchase price. We calculate risk from that level and we measure our return based on that entry price. For better or worse, we are “anchored” to the price we paid.
Price charts are used in an attempt to understand the collective reasoning and psychology of the participants so we can objectively prepare our trading plan. In the case of traditional (horizontal) support being broken and then acting as subsequent resistance, the more participants who are “anchored” to a price level, the greater a move will become when there is a break of that price point. When price breaks a major level of support, the “trapped longs” will have a propensity to look to get out at “breakeven” the supply from these participants helps to form resistance.
In a trending market, the classic horizontal support and resistance levels are not always obvious. If we want to measure price memory from an “event” the Anchored Volume Weighted Average Price tool is the most effective means to accomplish this task.
First, let’s define an “event.” In the markets, I consider a significant event to be any date from which price movement began or reversed. A short list of such events could be: earnings dates, week to date, month to date, year to date, FDA announcements, Fed announcements or just simple swing highs and lows.
YELLOW ARROWS: These VWAPS were anchored off of significant pullback lows, notice how buyers emerged to defend these levels on subsequent pullbacks. Notice that the longer the anchor point is on the chart, the less sensitive to current price action it will become.
The AVWAP is not just useful on longer term timeframes, it can also reveal some key insights about market behavior on intermediate and shorter-term timeframes
After gapping lower, buyers took control of the TRX and the AVWAP from that swing low provided intraday support on a panic selloff
As buyers became more aggressive on the gap higher, this AVWAP was briefly violated in early December, but then proved to be a good support level as prices stabilized near 0.59
Because of its moving property, the AVWAP can be analyzed in ways like a traditional moving average. Some considerations when using this indicator include; direction and slope of the AVWAP, how far above or below price action is in relation to the AVWAP, etc.
A robust indicator such as AVWAP can be implemented into any trading analysis or strategy. Experiment with various anchor points in you targeted markets and stocks and you will immediately recognize its value. As a stand-alone study or when viewed with other oscillators and indicators, the AVWAP is likely to become one of your favorite analysis tools.
S1 0.61
S2 0.54
S3 0.48
On May 9th 2023 the Donchian Channel breakout has been confirmed by high volatility and volume, RSI +68,a strong sign that the breakout is valid and promissing to start the uptrend
Comment:
Biden and House Speaker McCarthy reached an agreement on Saturday and the House vote is expected to take place on Wednesday. However, several Republicans have stated that they will not vote in favor of it. Most Ai stocks were still up after Nvidia rose as much as 4% earlier in the session, briefly hitting a $1 trillion market cap. Tesla also held gains after Elon Musk told Chinese foreign minister Qin Gang that he was willing to expand business in the country. On the other hand, energy stocks were among the worst performers dragged down by a 4% decline in oil prices.
Comment:
TRX supply held by whales rises
TRX token’s supply held by large wallet investors, also known as whales, has grown from 18.49% in June 2022 to 47.88% in May. The remarkable increase is typically considered a bullish development for the token.
TRX token’s supply held by large wallet investors, also known as whales, has grown from 18.49% in June 2022 to 47.88% in May. The remarkable increase is typically considered a bullish development for the token.
Comment:
The Fed meets next week and expectations of another rate increase are rising, particularly given the growing hopes the U.S. economy is headed for a 'soft landing' after Congress's approval last week of a debt ceiling deal that averts U.S. default.
The Fed enters its traditional blackout period this week, but there is more data to digest, including the ISM services PMI later Monday, which is expected to point to a still solid rate of expansion.
The Fed enters its traditional blackout period this week, but there is more data to digest, including the ISM services PMI later Monday, which is expected to point to a still solid rate of expansion.
Comment:
DXY Falls after Weekly Claims
The dollar index dropped to as low as 103.58 on Thursday after higher-than-anticipated weekly claims reduced expectations of an imminent interest rate hike by the Federal Reserve. Market participants anticipate that the Federal Reserve will temporarily halt its cycle of interest rate increases before resuming them in July, but unexpected rate hikes by the Reserve Bank of Australia and the Bank of Canada have increased the likelihood of a Federal Reserve rate hike already next week. Nevertheless, the Federal Reserve's decision could be influenced by the release of May's consumer inflation data, scheduled for a day before the central bank's meeting, which is projected to indicate a 0.3% increase in prices.
Initial Jobless Claims Jump to 2021-Highs
The number of Americans filing for unemployment benefits jumped to 261K in the week ended June 3rd 2023, the highest figure since October 2021, and above market forecasts of 235K. Figures for the previous week were revised slightly higher to 233K from an initial 232K. It marks a third consecutive week of increases in the number of initial jobless claims, in a sign the labour market strenght may be fading. The 4-week moving average which removes week-to-week volatility was 237.25K, an increase of 7.5K from the previous week. Based on unadjusted data, the largest increases in initial claims were in Ohio (6.345K), California (5.173K), and Minnesota (2.746K), while the largest decreases were in Connecticut (-2.35K) and NY (-1.243K). Meanwhile, continuing claims fell to 1757K from 1794K, below forecasts of 1800K.
The dollar index dropped to as low as 103.58 on Thursday after higher-than-anticipated weekly claims reduced expectations of an imminent interest rate hike by the Federal Reserve. Market participants anticipate that the Federal Reserve will temporarily halt its cycle of interest rate increases before resuming them in July, but unexpected rate hikes by the Reserve Bank of Australia and the Bank of Canada have increased the likelihood of a Federal Reserve rate hike already next week. Nevertheless, the Federal Reserve's decision could be influenced by the release of May's consumer inflation data, scheduled for a day before the central bank's meeting, which is projected to indicate a 0.3% increase in prices.
Initial Jobless Claims Jump to 2021-Highs
The number of Americans filing for unemployment benefits jumped to 261K in the week ended June 3rd 2023, the highest figure since October 2021, and above market forecasts of 235K. Figures for the previous week were revised slightly higher to 233K from an initial 232K. It marks a third consecutive week of increases in the number of initial jobless claims, in a sign the labour market strenght may be fading. The 4-week moving average which removes week-to-week volatility was 237.25K, an increase of 7.5K from the previous week. Based on unadjusted data, the largest increases in initial claims were in Ohio (6.345K), California (5.173K), and Minnesota (2.746K), while the largest decreases were in Connecticut (-2.35K) and NY (-1.243K). Meanwhile, continuing claims fell to 1757K from 1794K, below forecasts of 1800K.
Comment:
ADA, MATIC, SOL face the music as Robinhood delists tokens
Hours after Robinhood delisted ADA, MATIC, and SOL, the price action of the tokens was not what participants would have hoped for.
Ethereum continues to dominate the crypto sector, with increased TVL and notable growth on DEXs. NFT sector however, does not witness the same level of progress.
Should Shiba Inu traders be worried as Shibarium launch date remains uncertain
Solana prices dive 42% within a week, will there be a quick recovery
Solana nears an important resistance
Bitcoin’s Implied Volatility declined rapidly indicating the anticipation of low fluctuations of price from the options market.
Hours after Robinhood delisted ADA, MATIC, and SOL, the price action of the tokens was not what participants would have hoped for.
Ethereum continues to dominate the crypto sector, with increased TVL and notable growth on DEXs. NFT sector however, does not witness the same level of progress.
Should Shiba Inu traders be worried as Shibarium launch date remains uncertain
Solana nears an important resistance
Bitcoin’s Implied Volatility declined rapidly indicating the anticipation of low fluctuations of price from the options market.
Comment:
US Dollar Index: DXY fades recovery below 104.00 on downbeat Fed bets, US inflation eyed
US Dollar Index struggles to extend the previous day’s corrective bounce off three-week low, snaps two-day winning streak.
Markets remain nearly sure of witnessing no rate hike from Fed in June but concerns about July stay dicey.
Bond market moves, challenges to sentiment prod DXY bears ahead of the key US CPI.
Core CPI will be closely observed as high inflation can allow FOMC to remain hawkish despite no rate hike decision.
US Dollar Index (DXY) remains pressured around 103.60 as it fades the previous two-day winning streak on Tuesday as the key US inflation data looms. That said, the greenback’s gauge versus the six major currencies rose in the last two consecutive days amid the market’s positioning for the Federal Reserve’s (Fed) pause to the rate hike trajectory. However, the recently mixed concerns about the US central bank’s future moves join the challenges to the sentiment to prod the DXY buyers ahead of an important data point for the markets.
It’s worth noting that a study from the San Francisco Fed about the correlation between wage growth and inflation could be cited as the reason for the US central bank to remain less hawkish, which in turn weighs on the DXY, apart from the pre-data anxiety. The survey concluded that wage growth has a very small impact on inflation, which in turn raises doubts about the central bankers’ emphasis on wage cost numbers as a source of information to gauge inflation pressure.
Talking about the latest challenges to sentiment, a trade dispute is developing after the US expands its ban on imports from Xinjiang. China vows to protect China firms against any US sanctions, per Reuters. Recently, Bloomberg released prepared remarks of US Treasury Secretary Janet Yellen’s scheduled Testimony in front of the House Financial Services Committee as she said that the International Monetary Fund (IMF) and the World Bank (WB) serve as important counterweights to nontransparent, unsustainable lending from others, like China.
Additionally, the increase in the bets favoring the Federal Reserve’s (Fed) 0.25% rate hike in July also prod optimism and put a floor under the US Dollar Index. It should be noted that the CME’s FedWatch Tool suggests nearly limited scope for the US central bank to act on Wednesday’s Federal Open Market Committee (FOMC).
Looking ahead, the US Consumer Price Index (CPI) figures for May will be in the spotlight as the Fed decision looms on Wednesday. That said, the market forecasts of witnessing no change in the Core CPI MoM figure of 0.4% gain major attention as softer figures could push back the July rate hike concerns and may not allow the Fed to sound hawkish, which in turn can drown the US Dollar.
US Dollar Index struggles to extend the previous day’s corrective bounce off three-week low, snaps two-day winning streak.
Markets remain nearly sure of witnessing no rate hike from Fed in June but concerns about July stay dicey.
Bond market moves, challenges to sentiment prod DXY bears ahead of the key US CPI.
Core CPI will be closely observed as high inflation can allow FOMC to remain hawkish despite no rate hike decision.
US Dollar Index (DXY) remains pressured around 103.60 as it fades the previous two-day winning streak on Tuesday as the key US inflation data looms. That said, the greenback’s gauge versus the six major currencies rose in the last two consecutive days amid the market’s positioning for the Federal Reserve’s (Fed) pause to the rate hike trajectory. However, the recently mixed concerns about the US central bank’s future moves join the challenges to the sentiment to prod the DXY buyers ahead of an important data point for the markets.
It’s worth noting that a study from the San Francisco Fed about the correlation between wage growth and inflation could be cited as the reason for the US central bank to remain less hawkish, which in turn weighs on the DXY, apart from the pre-data anxiety. The survey concluded that wage growth has a very small impact on inflation, which in turn raises doubts about the central bankers’ emphasis on wage cost numbers as a source of information to gauge inflation pressure.
Talking about the latest challenges to sentiment, a trade dispute is developing after the US expands its ban on imports from Xinjiang. China vows to protect China firms against any US sanctions, per Reuters. Recently, Bloomberg released prepared remarks of US Treasury Secretary Janet Yellen’s scheduled Testimony in front of the House Financial Services Committee as she said that the International Monetary Fund (IMF) and the World Bank (WB) serve as important counterweights to nontransparent, unsustainable lending from others, like China.
Additionally, the increase in the bets favoring the Federal Reserve’s (Fed) 0.25% rate hike in July also prod optimism and put a floor under the US Dollar Index. It should be noted that the CME’s FedWatch Tool suggests nearly limited scope for the US central bank to act on Wednesday’s Federal Open Market Committee (FOMC).
Looking ahead, the US Consumer Price Index (CPI) figures for May will be in the spotlight as the Fed decision looms on Wednesday. That said, the market forecasts of witnessing no change in the Core CPI MoM figure of 0.4% gain major attention as softer figures could push back the July rate hike concerns and may not allow the Fed to sound hawkish, which in turn can drown the US Dollar.
Comment:
trade is open
Comment:
Trade open
bought more TRX :New Buy Signal
bought more TRX :New Buy Signal