Tron Price Analysis: TRX Recoup Losses, Road to 6 Cents?

Dalmas Ngetich

1 year ago

2 mins read

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Tron price expand 5.7 percent, reject lower lows
Binance announce successful BTT crowdfunding
Market participation rebound, high highs should be propelled by above average volumes

The BTT token sale was a success, and in 18 minutes, 60 million BTT were sold. It was a success, and now TRX prices are recovering, snapping back to trend confirming our overall trade position.

Tron Price Analysis

Fundamentals

At last, the path towards decentralizing the world’s largest software is right on track. BitTorrent is now decentralized, and investors have a share of the protocol via BTT. According to Changpeng Zhao, BTT demand was astronomical, apologizing that his team had underestimated demand despite adequate preparation.

https://twitter.com/cz_binance/status/1089906190425894912

The whole crowdfunding—the liquidation of BTT tokens took 18 minutes. All the same, it could have been 18 seconds was it not for technical issues causing bottlenecks. But still, those who placed buy orders but weren’t successful will receive a “small air drop”:

Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying. Exact numbers will be published soon.

— CZ 🔶 BNB (@cz_binance) January 28, 2019

In a statement, Binance said:

“Binance Launchpad, the exclusive token launch platform of Binance, has completed the sale of BitTorrent (BTT) tokens, which began on January 28, 2019, at exactly 3:00 PM UTC. The token sale ran in two simultaneous sessions: one for purchases using Binance Coin (BNB) and another for purchases using TRON (TRX), both of which concluded quickly.”

Candlestick Arrangements

Although sellers did have the better off TRX yesterday, prices are right on track. Bulls are back, and in the last 24 hours, the coin is a top performer. It is up 5.7 percent against the USD and stands to inch higher in line with our previous TRX/USD trade plan.

From candlestick arrangement, we recommend buying on dips in lower time frames—preferably in the 4HR chart. That is as long as prices are trending above 2.5 cents. Losses below 2.5 cents could see TRX finding support at 2.1 cents or the lows of Jan 13-14. However, before then, risk-off traders should find opportunity and trade as above.

Meanwhile, risk-averse traders can wait for a clear break and close above Jan 28 highs at 3 cents before loading on pullbacks. First targets will be at 4 cents while gains above this immediate resistance may trigger additional demand moon-slinging prices towards 6 cents and even 10 cents.

Technical Indicators

Volumes are low, and as mentioned above, conservative type traders should check out for gains above 3 cents. Such rallies would recoup losses of Jan 28. However, such spikes should be at the back of high transactional volumes above yesterday’s 31 million. It will even be ideal is they exceed Jan 14’s 51 million as it will reassert bulls presence.

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.