Tron price analysis: TRX up by 5%+, Price Soars after BTT token announcement

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Tron (TRX) price is soaring after Bittorent announced BTT token earlier this week and aiming to soar to even greater heights in the days ahead.

As reported in our previous articles, TRON has bold plans to legitimize the BitTorrent protocol, at the center of which is Project Atlas. Given BitTorrent is already integrated with popular set-top boxes like Kodi, TRON seem to be betting on paid torrenting becoming a revolutionary alternative to existing media streaming services and app stores. And BitTorrent, now owned by Tron Foundation, recently announced the new BTT token. BTT will be a TRC-10 token and this could be one of the major factors contributing to the currently soaring TRX price.

TRX/USD pair  is up by more than 5% today. Tron TRX/BTC has been consolidating in a bullish pennant for a good few days now. However, pennant that has been containing price, may have just broken after a new wave of positive news.

TRX/BTC pair, Binance

Technical analysis

Tradingview technical analysis TRX/USD pair, 4hrs

TRON/DOLLAR is in a range bound and the beginning of uptrend is expected. The price is above the 21-Day WEMA which acts as a dynamic support. The RSI is at 66

About Mantas Malukas

Mantas is the founder of DappLife, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.