$0.0177 is the TRX Resistance Level to Watch Ahead of TRON 4.0

Quick take:

  • TRON’s Great Voyage event will be held on 7th July at 13:00 UTC.
  • This event will kick start the implementation of Tron 4.0.
  • The Tron 4.0 roadmap stretches out to mid-2021.
  • The Great Voyage live event will have a long list of prominent guest speakers.
  • $0.0177 is the short term resistance level to watch before July 7th. 

The highly anticipated TRON 4.0 upgrade will be kick-started on the 7th of this month as part of the ‘Great Voyage’ event being planned and hosted by Justin Sun and the Tron foundation. Due to the current COVID19 limitations of holding events and conferences in a traditional setting, the Great Voyage will be an online conference with a long list of prominent guest speakers from the ever-expanding crypto-verse.

2020 Roadmap for Tron 4.0

Furthermore, Justin Sun and the Tron Foundation has provided a 2020 and 2021 roadmap for the implementation of Tron 4.0. The upgrades to the Tron mainnet have been scheduled as follows.

  • Q3, 2020 – TPOS dual-layer consensus mechanism and implementation of the TRONZ smart contract privacy protocol to support TRC10 shielded transactions.
  • Q4, 2020 – develop a virtual machine that adopts zkSNARKs, TICP cross-chain protocol, upgrade the financial institution & enterprise blockchain solution
  • Q1, 2021 – help isomorphic chains to connect to TRON’s cross-chain ecosystem
  • Q2, 2021 – finish the upgrade of TICP protocol

$0.0177 is the Resistance Level to Watch Ahead of the Great Voyage

For the past few weeks, TRX has been the main focus of keen traders and investors who trade altcoins based on major events. In this case, the Great Voyage live conference will be held on the 7th of July and it will usher in the new era of Tron 4.0.

As can be seen by the roadmap above, TRX might be worth hodling even after the live event on the 7th. To get a better picture of the potential of Tron in the crypto markets, the daily TRX/USDT can provide adequate clues.

$0.0177 is the TRX Resistance Level to Watch Ahead of TRON 4.0 1

From the 1-day TRX/USDT chart, the following can be observed.

  • Trade volume is in the green, with all moving averages setting up for a bullish few days for TRX in the crypto markets.
  • MACD has also crossed in a bullish manner across the baseline with the daily MFI yet to be exhausted at a value of 64.
  • $0.0177 and $0.01864 provide short term resistance zones for TRX in the coming days.
  • At the time of writing this, TRX is valued at $0.0169.

It is with this brief technical analysis that it can be concluded that $0.0177 is the short term resistance level to watch for TRX with the Great Voyage event less than 5 days away.

However, the 2020 and 2021 roadmap of TRON 4.0, points to more reasons to be bullish on TRX at least until mid-2021. If Bitcoin provides stable crypto market conditions, TRX/USDT could retest, or even eclipse its February 2020 high of $0.0269 by the time Tron 4.0 is fully implemented.

As with all analyses of Tron, traders and investors are advised to use risk management techniques such as stop losses and to practise using low leverage during uncertain times.

John P. Njui
Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat.

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