TRX TRONUSD UPWARDS POWERFULL BULL TRENDWhat 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
