Tron Price Analysis: TRX Up, Expect More Pumps Before Feb 11

Dalmas Ngetich

Last Updated: June 11, 2024 9:14 pm

2 mins read

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Tron prices picking up, up 3.7 percent in last day
Binance CEO is confident; the exchange can weather all market conditions
Transactional volumes below average; should increase as TRX demand swell

Following a successful ICO, it was projected that TRX prices would expand as users flock to the coin because of BTT airdrop. However, many are disappointed. TRX prices are not rallying though it is trading within a bullish trend. Regardless, we retain a positive outlook and once prices clear 4 cents, demand will surge inevitably driving prices above 6 cents.

Tron Price Analysis

Fundamentals

Days after a successful BitTorrent ICO, Changpeng Zhao is confident that his exchange can survive all market conditions and bear markets. Indeed, free falling asset prices of 2018—which by the way is spilling over to 2019—took a toll on many established projects.

Meanwhile, Binance seemed resilient. With favorable and open policies towards blockchain and technology, they shifted their offices to Malta opening an exchange in Uganda. While at it, they continued to list new tokens and stable coins allowing users to move their coins to safety against biting bears. Even with this, the CEO is laid back:

“Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much – not as much as people actually think we do. We just keep our heads down and build features. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So, we’ll be here for a while.”

Candlestick Arrangements

At the time of writing, TRX is back to green, rejecting losses and up 3.7 percent in the last 24 hours. Even so, prices are trending inside Feb 4 high-low meaning bulls are in control. Following steep falls following a successful ICO, it is likely that TRX prices will soar above critical resistance levels as bulls break free from this accumulation and printing new highs above 4 cents and 6 cents.

The projection is not far-fetched. As laid out in previous TRX/USD trade plan, price action is trending within a bullish breakout pattern. Technically, every dip should be a buying opportunity allowing risk-off traders to fine-tune entries preferably in the 1 HR chart or 30 minutes chart with first targets at 4 cents.

While at it, conservative traders should stay on the sidelines only loading up once there is a wide-range, high volume close above 3.1 cents of Jan 27 highs.

Technical Indicators

Volumes are picking up. Although we need Feb 4 bar to be confirmed, the bull bar that would trigger buys should be backed by high volumes ideally registering above 47 million of Feb 4. After that, risk-off traders should buy on dips. First targets will be at 3.1 cents and later 4 cents.

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.