Introduction

Good evening steemians, Am glad to be participating in this great competition. For this week assignment I will be joining the Team Frontline by professor @abdu.navi03, and @shemul21 .so let's get started.

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

TRON is a blockchain system that is decentralized in nature. It was built in March 2014 by Justin Sun and from 2017 it has been managed .It was initially an Ethereum-based ERC-20 token, which transferred to its own blockchain in 2018.

TRON network was created for financial rewards, sharing of files and launching of dApps on networks, it was designed to efficiently the environment to connect content creators and their audience. it removes the idea centralization from its system thereby removing relevance of the middle man and their fees. Tron foundation came into play in 2017 and and in May 2018 it launched its Mainnet And in July 2017 , Bittorrent bought TRON which makes it more stronger.

TRON CREATOR

Justin Sun is the Founder of TRON which the leading blockchain in DAO ecosystem image below.

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The TRON token has been listed in so many exchange like: Binance, FTX, , OKX, DigiFinex and Mandalaand so many others thus TRON can be traded in these exchange without any violation of rules and regulation. below is the detail of TRON obtain from coinmarketcap .

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Rank: #26

Marketcap: $6,284,791,668

Volume: $872,337,396

Volume/Marketcap: 0.1388

Circulating Supply: 101.74B TRX

• Why am I optimistic on this token today

I'm optimistic TRX because Tron is one of the fastest growing crypto assests which offer zero transaction rate and also has a high tps compared to Bitcoin . It also gives the holders opportunity to earn more income where the users stake their TRX . it will also rise because it has a very high use case and

From my analysis chart I discovered that the coin have been going through a downtrend for sometime which is applicable to virtually all the crypto asset . For analysis , I used MA 96 and EMA 48 along side RSI and from all indication the token will still rise because BTC which is one the major determinant is rising.

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• Analysis of the Token

From the image below, MA, EMA along side RSI which was used to note my position. Whenever EMA 48 and MA 96 meets and you find MA above it signifies that the trend is in bearish trend but when you see it below it signifies bullish trend. I discovered that the market was in a bearish trend movement for sometime and its trying to move up again The price is seen on resistance level couple of times.

According the image below, I find out that a crossover of the EMA over the MA, I took my entry, with a profit to loss margin of 2:1 , RSI indicator was seen moving upward. So I placed trade with entry price of 0.06220 so I set my take profit at 0.06455 and stop loss at 0.00170

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The image below shows my orders carried out on binance exchange. So I placed trade with entry price of 0.06220 so I set my take profit at 0.06455 and stop loss at 0.00170. So immediately I placed my trade I took the screenshoot below.

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After some mins I recorded 8.76% profit image below.

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After some hours there was network issue so I was forced to closed the trade with profit of $0.027

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Trade Info

Parameters	info
Entry	0.6220
Take Profit	0.06455
Stop Loss	0.00170
Ratio	1:2
Profit Made	$0.0270000

• Your plan to keep it for a long time or when to sell it?

I don't intend to the trade over a long period of time because the wavy nature of market, I do short time trading just to take profit once the market exceed the stop loss order .

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

From my analysis the token will still rise in future with a use case , I can advise anybody who has the fund to buy and hold because token will still rise.

Conclusion

In this assignment I was able to trade TRX/USDT for the on binance future market and also analyze the TRX token. Like I said TRX is one of the fastest growing token which one can also invest in .

Am Thankful professor Professor @abdu.navi03 for your time.

Cc:
@abdu.navi03
@shemul21