The current market situation is crucial for cryptocurrencies because coins like PEPE and Tron (TRX) are in the support zone. PEPE is trading above $0.000007, which has long supported the coins. On the other hand, Tron (TRX) is also trading near the support level of 22 August.
If the price doesn’t hold these levels, we can see another market downfall. One coin, DTX Exchange (DTX), does the opposite; it is hitting new highs regularly and has risen 200% in a month. Expats and analysts have praised DTX Exchange, which has a bright future.
Will PEPE Bounce Back From The Support Level?
PEPE gained robust momentum from March to May this year, gaining more than 1,000%. However, PEPE has been in continuous drawdown after topping out at the high of $0.00001718. From the top, it has dropped more than 50%. It tried to take support at $0.00001 and $0.000008 levels but failed to sustain them. Now, these levels will work as a resistance zone for the rising price.
PEPE is a memecoin, unlike utility coins, which can change direction on some developments; it cannot be affected much by events and news. For PEPE to reverse its direction, the market has to change the trend upwards.
Tron (TRX) Below The 20-Period Moving Average
Tron (TRX) was one of the hottest coins during the market correction because of its stellar performance in the past few months. During the past few months, most other cryptocurrencies have been undergoing corrections, while the price of Tron (TRX) has been steady, jumping by over 50% at the same time. However, after the initial breakthrough, Tron (TRX) was in the process of consolidation, and yesterday, it broke below the 20 SMA line of an average period.
The $14.9 level strongly supports Tron (TRX), and demand could peak from this level. If it fails to sustain the level, the next immediate support for Tron (TRX) is $0.144, which has also acted as a resistance for a long time.
DTX Exchange (DTX) Dominates Traditional Finance Market With Innovation
Because of the faltering sales of PEPE and Tron (TRX), investors are now looking into DTX Exchange, drawn by its fast growth potential and low investment expenses. DTX Exchange (DTX) is becoming well-liked for several reasons. Its hybrid protocol is designed to reconceptualize the $10 billion global trading market, creating a liaison between traditional finance (TradFi) and crypto. The platform makes seamless trading of traditional assets and DeFi tokens possible.
Over 120,000 digital assets are available, and with no gas fees, traders can quickly trade them in various financial markets, such as stocks, CFDs, cryptocurrencies, and forex. Traders can have 1,000X leverage on all these assets, which is unique in the way that no other exchange does.
Through its hybrid TradFi system, DTX Exchange makes trading easier for many traders by providing new solutions for automation and strategy. Big investors are very curious, and the project gathered $2.5 million during stage 3 of the presale to prove its potential as a leader of the trading industry.
Learn more:
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