Tron Price Analysis: TRX Demand Increasing, BTT Effect?

Dalmas Ngetich

1 year ago

2 mins read

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Tron price expansion, closing in on Stellar (XLM) and Litecoin (LTC)
Platform ambitions could see it become a major player in years ahead
Transaction volumes pick up hinting of underlying demand

News of partnerships and other supportive fundamentals is supportive of TRX and Tron. As Binance and other exchanges prepare for air drops, demand should increase meaning TRX could outperform most coins in the top 10 and even flap Stellar (XLM) and Litecoin (LTC)

Tron Price Analysis

Fundamentals

The crypto market is yet to chime in with expansions of late 2017. Even so, Tron, an ambitious platform, has been mostly successful. Justin Sun’s social media presence and streams of good news continue to prop TRX prices. Encouragingly, prices are steady against unfavorable market conditions, outperforming leaders as Bitcoin and competitors as ETH. Nevertheless, critics continue to maintain their position.

While they see TRX and Tron as vaporware backed by shills and Justin Sun’s aggressive marketing, project believers point to hard statistics. Here, numbers favor Tron. Five months after launching their Ethereum VM compatible Virtual Machine, developers and well as projects are flocking to Tron. This is thanks to irresistible offers and a superior, scalable and cheap platform.

With every partnership, it is increasingly becoming clear that Tron is scaling its way up. Gradually, it is becoming a legitimate contender and may be disruptive for legacy systems primarily in the media sub-sector. Add BitTorrent and upcoming BTT air drop, and it’s a game changer.

Candlestick Arrangements

TRX gains are slow and steady. Ahead of BTT air-drop, we expect TRX demand to increase, and as supply-demand dynamics dictate, prices will rise in response. They are, and at spot prices, TRX is up 1.7 percent from yesterday’s close. If anything, this is impressive and syncs with our TRX/USD trade plan. Since TRX is trading within a bullish breakout pattern with supports at 2.5 cents, traders should be fine-tuning their entries in lower time frames. Every dip should technically be a buying opportunity with tight stops at Jan 22 lows and targets at 4 cents.

Technical Indicators

In the volumes chart, demand is picking up explaining rapid price movements of the last few days. As logic demand, increase in price should be accompanied by growing demand. This is in turn relayed via high transactional volumes. That is precisely the case—volumes up from 7 million on Jan 17 to 18 million by yesterday’s close. We can interpret this as bullish, but it would be ideal if breakouts above 4 cents exceed Jan 10’s 95 million. That’s roughly five times current averages.

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.