- TRX took a good surge in the past day in the context of its integration in Dominica.
- However, today, its value declined along with other major coins.
- Experts say, this decline is due to the ongoing IEA Oil Market Report.
Tron (TRX) holders may insightfully look at the price of the coin as it shows some possibilities for a hike. Following the partnership with Dominica as the official protocol for the nation’s blockchain infrastructure, TRX has climbed up to $0.0645, in the past day.
Tron DAO claimed that this is the “first time a major blockchain company” entered into an agreement of this kind.
#Dominica announced #TRON as the official protocol for its national blockchain infrastructure. #TronStrongThis is the first time a major blockchain has entered into an agreement of this kind. Read the official government announcement below https://t.co/gqc0fvBLJZ pic.twitter.com/2ISdk051x0— TRON DAO (@trondao) October 12, 2022
TRX/USDT 1-Day Trading Chart (Source: TradingView)
However, at press time, TRX is trading at $0.06174, which is 0.07% low in the past 24 hours. But, its volume has increased by over 54% in the same period.
Diving deeper, TRX was on a hiking stage at the beginning of October, which then dropped its value and met another surge that went around $0.06527 on October 10.
In the 200 EMA range of the 1-day trading chart, the TRX candle should at least touch the turbulence line to form another good surge at the $0.07042 resistance zone. This is also the price zone TRX hit in the middle of August.
Although TRX signaled a green candle, at press time, the International Energy Agency’s (IEA) ongoing meeting on Oil Mark Report could have made almost all the major coins including TRX dip down.
TRX/USDT- 1-Hour Trading Chart
In the 1-hour trading chart, TRX deeply nose-dived to $0.06084 at 05:00 UTC. Also, in the past day, at 12:00 UTC, many investors sold their coins, making TRX fall off the cliff.
As clear from the graph, there was a bullish zone at 02:00 UTC, on the same day. This depicts that TRX holders bought more coins creating an uptrend for nearly 5 hours from then.
Adding on, BTC, ETH, XRP, ADA, DOT, SOL, and other major coins have currently tumbled. Among the top ten coins by market cap, ADA indicated the most dip-value of 7.18% in the past 24 hours.
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