TRON Is Exposed To Forex Market Via Shift Partnership

In a movement close to my heart, TRON is exposing itself to the forex market by partnering up with the New York-based Shift Markets. This comes after TRX launched its Mainnet on May 31st. Despite the positive developments, TRX isn’t getting much love by the market participants. Here’s an overview.

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TRON’s Partnership with Shift Markets

Shift has been helping with the launch of over 100 FX brokers and over 50 crypto exchanges in the past decade. With this partnership, TRX will be bridging the gap between traditional fiat currencies and cryptocurrencies. This will also increase its liquidity not only the crypto-markets, but also the traditional Forex markets that deal with global currencies. TRON will now be offered by a total of 9 brokers in 9 different countries.

Tron Mainnet Launch

As we previously reported, TRON finally launched its mainnet on May 31, becoming independent from the Ethereum platform. The token could see more bullish sentiment once the transition is completed on June 25th. In the meantime, TRON users have to follow a few steps to ensure that the transition takes place smoothly. They have been given a deadline till June 25.

TRX/USD Price Action

Despite the news, TRX has continued its consolidation after it dropped below the Ichimoku cloud once TRON’s Mainnet was launched. Looking at its price action on the daily chart, TRX/USD continues to be supported by the 61% Fibonacci retracement level of $0.05, while bouncing up to the 50% Fibonacci and the lower band of the Ichimoku cloud at $0.06.

The future cloud appears to be turning bearish. But we could still see a bounce up to the upper band of the cloud and the pivot level of 0.07 before the June 25 transition deadline.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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