I have already joined "Team Frontline" in the 1st week of the Crypto Academy Trading Competition, Dear Professor @Shemul21 is leading "Team Frontline". Having learned a lot about trading from Crypto Academy, I have completed a lot of tasks related to trading at Crypto Academy.
For today's trade I have selected TRX / USDT pair.The TRON blockchain was founded by Justin Sun and Justin Sun serves as the CEO of the TRON blockchain. Justin Sun has been associated with Ripple in the past. Justin Sun was born in 1990. TRON is basically a blockchain-based operating system, the goal of TRON is to ensure that it is suitable for everyday use. The TRON blockchain can handle 2,000 transactions per second, far more than Bitcoin and Etherium. TRON has several goals, including file sharing, allowing content creators to introduce personal tokens, and creating content through financial rewards.
The TRON blockchain also allows the creation of DApps, a very popular blockchain for creating DApps is the TRON blockchain. The TRON blockchain convinces manufacturers that working through the TRON blockchain does not mean losing commissions to intermediaries. This TRON blockchain project can also be much less expensive for consumers.
| TRX Price | $0.6073 |
|---|---|
| Price Change 24h | -$0.0007707 |
| 24h Low / 24h High | $0.0559 / $0.06273 |
| Trading Volume 24h | $1,533,007,909.95 |
| Volume / Market Cap | 0.2483 |
| Market Dominance | 0.34% |
| Market Rank | #23 |
| Market Cap | $6,174,713,550.55 |
| Fully Diluted Market Cap | $6,174,714,909.42 |
| Total Supply | 101,751,875,435 |
Which Exchange can be traded on
TRX / USDT, TRX / USD, TRX / ETH, TRX / BTC, TRX / XRP can also be traded in many more pairs on popular exchange sites like Binance, Coinbase, Kucoin, Bittrex, and FTX.
We have learned a few important facts about TRX and TRX is a very powerful project and very popular with traders. TRX's coinmarketcap rank is 23. Today I analyzed the market of TRX and saw that TRX was on an uptrend and I have seen here that by analyzing the low period EMA has quickly crossed the EMA upwards, so I understand that the market can now go in a bullish mood. So I decided to buy a TRX and make a small profit. I will discuss the technical analysis of TRX in the next section.
For today's trade I have selected TRX / USDT pair. I will do analysis through tradingview, tradingview is one of my favorite analysis platform. Today I will analyze through Exponential Moving Average. I personally do technical analysis for trading through tradingview. Today I have placed Exponential Moving Average in my chart for analysis. In Season 6 Week 2, Professor @ shemul21 discusses with us the Moving Average. Exponential Moving Average is very easy to use and understand. I use Exponential Moving Average for analysis. So I have 20 Period Exponential Moving Average and 50 Period Exponential Moving Average in my chart.
I used a 15 minute time frame here. I can see that in my chart I have crossed the Exponential Moving Average of 20 Periods and the Exponential Moving Average of 50 Periods. When the Exponential Moving Average of 20 Periods crossed the Exponential Moving Average of 50 Periods, I placed a buy order, from here the market could go up. The price of TRX was $ 0.06032 when I placed the buy order.
Before I bought, I marked take profit and stop loss. So I set the take profit and stop loss in that place. I set the take profit at $ 0.061 and set the stop loss at $ 0.056.
My Stop Loss is hit.
| Buying Price: | $0.06032 |
|---|
Sell Price:$0.05890 (Stop Loss hit)
Loss:|$0.77
I Loss $0.77 this trading, below screenshot.
I bought TRX today for a very short time, I will get out of here with a small profit. If there is a loss, that's why I set a stop loss. I did not analyze it for long time or do not want to hold long time. I didn't plan on holding it for long. TRX is a powerful project, it can be held for a long time if desired.
The analysis I did today through Trading View can be applied intraday. The cryptocurrency market is volatile and difficult to predict. Every trader has analysis differently, but he can buy it. Anyone should analyze TRX before buying it, as anything can happen in the cryptocurrency market. TRX is a powerful project, it can be held for a long time if desired. Because TRON blockchain has a lot of achievements in blockchain. It has a lot of popularity
TRX is a powerful project, it is very popular with traders and traders have a lot of interest in it. TRON blockchain has a lot of good work in the blockchain world. Which allows users to use its services at a much lower cost. I think TRX has a chance to do better in the future.
CC: Professor @Shemul21