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Tron [TRX]’s new target will extend its tentacles to Southeast Asia

Sthuthie Murthy

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Tron [TRX]'s new target will extend its tentacles to Southeast Asia
Source: PxHere

Justin Sun is back with some new targets for his Test net that was launched successfully on March 31st. The Test net was much rejoiced by the followers and the Main net is awaited with higher expectations.

Tron is stretching out its tentacles outside the boundaries after its recent expansion to Korea. It had recently extended its operations to South Korea and was listed on Bithumb which is the most popular there. Justin now announces the further extension directing towards Southeast Asian countries like Indonesia, Singapore, Philippines, Thailand, and Malaysia.

Justin Sun's tweet

Justin Sun’s tweet

Terry Lawrence, a TRX holder commented:

“TRON will be a revolution, TRX is getting business done. Boom! Fresh money for southeast Asia.”

Alan McFoster, a Twitterati says:

“New announcements getting cooked behind the scenes.”

TRX has fallen down further in value despite a minor increase in the 24-hour volume. TRX is currently trading at 3 cents with the highest peak of 4 cents that it hit earlier this month.

Mandela, a Justin follower suggests:

“Please accelerate other nodes in Italy right near Malta where the New Binance headquarters will be.”

There was also some big news a few days ago on TRON’s list. There were some great expectations that the Binance expansion towards Malta will automatically trigger TRON positively.

The market speculators are just hoping that the Main net will not be a disappointment and will probably boost up the prices. The price uptrend is what the market is eagerly waiting for right now.

Jack Anderson said:



“Hi Justin! Yes, Philippines please. We’ve got a bunch of folks on crypto here!”

Gabriel, a day trader says:

“How about more China…call up Xi Jinping and tell him to open the crypto gates? “

George Castillo tweeted addressing Justin Sun:

“Seriously you talk more about exchanges than about your working progress on your product. I’m having more fun trading ontology at the moment Who has a better project at the moment.”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Ethereum

Ethereum [ETH] might have caught a break from bears due to formation of ‘Golden Cross’

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Ethereum [ETH] might have caught a break from bears due to formation of 'Golden Cross'
Source: Unsplash

Ether, more commonly known as Ethereum, is the world’s second largest cryptocurrency and it might have turned bullish due to the initiation of the ‘Golden Cross’ in the daily chart. Golden Cross, is when the 50-day simple moving average crosses above the 200-day simple moving average, which indicates that the price has turned bullish and that the cryptocurrency has bottomed.

Source: TradingView

Historically, Ethereum’s last Golden Cross took place in February 2017, when the price of ETH was ~$10; the price after this cross was bumped to $1,600, which was a meteoric rise of 15,000%. As bullish as this sounds, this might not be the good news that the crypto community is hoping for, as the ‘Golden Cross’ isn’t absolute and there are times when the crossover could be a fakeout. Crossover fakeouts had occurred for Bitcoin in 2014.

The weekly chart for Ethereum has been consistently forming higher highs since 2019, which is a bullish indication. The MACD indicator and the RSI indicators are both indicating a steady rise since 2019.

All aboard the ‘Speculation Train’

If another meteoric rise is to be expected from the crypto ecosystem, the price has to undergo a parabolic rise. The price of Ethereum at press time was $174 and had a market cap of $18 billion; assuming approximately 10,000% increase [instead of the 15,000% rise], the price of Ethereum would reach approximately $8,000 by March 2020.



A Reddit user @alkalinegs commented:

“if you look at the last golden cross early 2017 it took a few days till something happend. death cross 2018 even resulted in a bulltrap. -> dont expect an immediate reaction.”

Quite a few people use the exponential moving averages and disagree with the use of Simple Moving Averages, which is opinionated. Another Reddit user, @DeliciousPayDay commented:

“I strongly disagree. SMA 200 is more important and everyone in crypto looks at it. After breaking the 200MA at $151 ETH went straight to $180 before being sold off, and bounced directly off the 200MA the next day turning resistance into support. The 50/200 golden cross just happened on the SMA and the last time that happened ETH went from $12 to $1400.”





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