TRON Made Almost 1% Yesterday While Chimpzee is Raking in Te Smart Money

TRON (TRX) has been on a dramatic streak in the short and long term. The coin’s market has seen price gains and losses since June 1, which shows the bears’ persistent pressure on TRX.

Meanwhile, after the short rally relief, where the coin climbed from $0.07527 on June 1 to $0.08275 on June 3, the price of TRX experienced prolonged fluctuations throughout the remaining 27 days.

On June 28, TRX touched $0.07442 and fluctuated to $0.07374 the next day (June 29) after making attempts to uphold its 1% increase.

Currently, the coin has surpassed its strongest support level at $0.06798. Its new resistance is now at $0.08094, while the price today, June 30, sits at $0.07585 at the time of writing.

Many predictions by experts are projecting a bright future for TRON amid fluctuations. Considering the recent uptrend of the coin, TRX could reach $0.1 by the end of 2023.

However, if factors like macroeconomic activities or regulatory crackdowns hit its market, the coin’s minimum price could be around $0.06 by the end of the year.

Meanwhile, the bull is still in charge, despite fluctuations. As a result, TRON (TRX) is likely to see new milestones in the coming days to weeks.

TRX Set to Surge in the Short and Long-Term

The technical indicators on the leading crypto analytics platform, Tradingview, project a bullish market for TRON (TRX) in the short and long term.

The Moving Average Convergence/Divergence (MACD) is above the signal line, with a bold green bar on the histogram, a strong short-term momentum in favor of the bulls. As such, TRX is likely to touch the $0.079 level before the day ends.

Additionally, the Relative Strength Index (RSI) shows TRX in a neutral market position as it sits at 58.67. The RSI points upward, representing the increasing BUY trades in the market while projecting its move to the overbought zone (above 70).

However, if sellers eventually surpass the buyers, the RSI could reverse, dropping toward the oversold zone (below 30). Meanwhile, TRX is trading above its 50-Day and 200-Day Simple Moving Averages (SMA), a short and long-term bullish signal. 

This means, in the coming days to weeks, TRON (TRX) is likely to reach the $0.08 level in no time.

TRON’s Support and Resistance Levels on Tradingview

TRON’s support levels are $0.04789 and $0.06798, while its resistance levels are $0.08094 and $0.09971.

Since TRON (TRX) trades above its support levels, it means that its price has risen above the level at which buyers previously stepped in, indicating potential upward momentum and possibly attracting more buyers.

Meanwhile, its resistance levels show that the coin still has a long way to go before reaching the point where selling pressure may increase, potentially limiting further upward movement.

Notwithstanding, several factors may fuel the coin’s growth in the future, keeping it in the bullish market for a longer period.

Factors That Could Fuel TRX’s Price Growth

Positive news and optimistic developments in a crypto ecosystem can boost its price because these factors build confidence in the crypto market.

As such, some of the recent news below, associated with TRON’s ecosystem, could fuel the growth of its token.

TRON’s Full Accessibility on Ethereum

In a current update shared by TRON’s protocol founder, H.E. Justin Sun, on Twitter, TRON is now live on Ethereum thanks to the BitTorrent Bridge.

This is a massive deal for Tron as the bridge to the Ethereum network would grant access to direct apps on various Eth-based dApps and DeFi platforms.

According to Sun, this Tron-Ethereum smart contract will reemphasize TRON’s entire accessibility on the revolutionary decentralized finance network (DeFi).

Undoubtedly, the Ethereum protocol poses as the leading and more vigorous center for DeFi developments.  As a result, many protocols are now developing compatibility via the EVM engine (Ethereum Virtual Machin).

Although Tron is connecting to Ethereum via a completely new route, its underlying objective is to access the significant liquidity of the latter blockchain protocol. 

This move offers an enormous upside for TRX, whose value has always trailed behind its competitors. Since this news emerged on June 2, Tron (TRX) has seen more price gains in the short term and could rally further in the long run.

The Reversal in Stablecoin Dynamics

Crypto markets are projecting signals of a blooming future, as Glassnode’s data points to a potential reversal in the stablecoin market.

Glassnode highlighted that the pattern of the total stablecoin supply’s outflows had changed significantly, suggesting that the crypto market will likely experience a rise in capital inflows and demand.

After Terra (LUNA) collapsed, stablecoin holders quickly cashed out their tokens, resulting in the -$8.6 billion monthly outflow. However, according to the recent data from Glassnode, the downtrend in the stablecoin space is subsiding and reversing at the same time.

If stablecoins regain their stance in the crypto market, considering its recent movement on Glassnode’s data, there could be a potential upturn for various digital currencies in the market. 

Cryptocurrencies like TRX, BTC, and others already in the bullish market could see more rallies and promising price levels in the long run.

Despite TRON’s (TRX) potential to spike in the future, a new project, Chimpzee, is raking in massive revenue in its presale in the short term.

Chimpzee (CHMPZ) 

Chimpzee is a new green crypto project that aims to address climate change and protect animals while incentivizing participants with its native utility token, $CHMPZ.

The project offers educational features on deforestation and provides opportunities for passive income through its Shop2Earn, Play2Earn, and Trade2Earn innovations.

The Chimpzee ecosystem comes with a marketplace, The Chimpzee Shop, that provides a variety of unique items for sale while allowing users to earn passive income via the CHMPZ coins. 

When you purchase, you’re showing your support for the fight against animal cruelty and climate change. Additionally, a portion of the profits goes to charity, so you can feel great about your shopping knowing you’re making a positive impact.

Its NFT marketplace allows users to trade and earn their way to a better space on the platform while receiving some part of profits from trading fees. 

The Zero Tolerance Game is the gamified Chimpzee movement where users can play to earn crypto for using avatars or NFT passports to prevent poachers and secure the forests.

The ecosystem’s native token, $CHMPZ, is the platform’s primary currency for payments, NFT trading, and passive income earnings.

Chimpzee’s Detailed Roadmap

The detailed roadmap provided by Chimpzee reveals their recent and future developments on the project. 

According to Chimpzee’s roadmap page, 5 developments have been completed so far: Website Launch, Smart Contract Verification, Presale Marketing Campaign, Making Initial Donation, and Developing Chimpzee Store.

As more developments are completed with time, the project will update its roadmap page.

$CHMPZ’s Presale Surges following 300% Bonus on Save the Black Jaguar Campaign

According to the project’s website, up to a 300% bonus will be given to early investors that participate in the “Save the Black Jaguar” campaign.

Following this update, the $CHMPZ token in presale has surged dramatically. The CHMPZ presale event has sold over 1.1 billion tokens, raising over $650K at its current price of $0.00067.

In the next week, the token’s price will increase further to $0.0007 to indicate its move to the next presale stage, and at the end of the presale, $CHMPZ will list on several exchanges for $0.00185.

Early investors can benefit from these presale prices ahead of potential price explosions.

Considering Chimpzee’s charitable endeavors and collaboration with organizations like The Giving Block, One Tree Planted, and WILD Foundation, the project could gain traction when operations on the platform commence.