At a current price of $0.084149 TRON has certainly been making waves in the cryptosphere. Despite a 24-hour trading volume dip of nearly 3.50% to $4 million, this digital asset has been edging closer to securing a place in the top 10 cryptocurrencies worldwide as ranked on CoinMarketCap. This upward trajectory has peaked market interest, with its stability above $0.08244 leading some to ponder whether this could be an opportune time to buy.
However, the recent inversion below its 50-day exponential moving average paints a slightly different picture, suggesting a possible persistence of the current downtrend. The relative strength index (RSI) and the moving average convergence divergence (MACD) indicators currently leaning in a bearish zone, serving to reinforce this outlook. Therefore, conventional wisdom would advise initiating a short position if TRON drops below the $0.08244 level, potentially aiming for the $0.07783 mark.
Contrarily, should a bullish breakthrough materialize above the $0.08499 resistance level, potential buying opportunities may arise. Proponents of this stance point towards possible upside targets at $0.08853 and $0.09079.
While TRON continues its dance on the line of uncertainty, let’s shift focus toward some emerging altcoins capturing market attention: Burn Kenny Coin and Wall Street Memes.
Burn Kenny Coin, a prospective top meme coin for 2023, elicited tremendous demand, having sold out its $500,000 presale in under 48 hours. As Burn Kenny Coin prepares its launch, observers are eager to examine the performance trajectory this coin will take, particularly with 30% of its supply locked for three months to ensure legitimacy and security.
Ever-popular online community, Wall Street Memes is also feeding the current crypto-buzz. In a few short weeks, it has presold an astounding amount of over $17 million in its own meme coin, $WSM. With presale coin price gradually increasing to $0.0325, early participation may yield future gains.
Both Burn Kenny Coin and Wall Street Memes underscore the thrilling, high-stakes landscape of cryptocurrency. As promising as they might be, it is crucial to remember just how speculative and volatile this sector can be – an exhilarating game of high risk and potentially higher rewards.
Source: Cryptonews
