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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Is Tron (TRX) Steadying Because of ChainLink Partnership Rumors?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis altcoins

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  • Tron prices up 2.5 percent but out of the top 10
  • ChainLink and Tron partnership rumors may support prices
  • Transaction volumes drop, averages 6.9 million against 37 million of Feb 24

Rumors are rife that Tron and ChainLink are on the verge of collaboration. If that is the case, Tron (TRX) stands to benefit as demand help lift valuation from current pits. The coin is up 2.5 percent from last week’s low but could print above 2.5 cents by end week.

Tron Price Analysis

Fundamentals

Ethereum introduced smart contracts. Smart contracts depend on the underlying blockchain for security and immutability. As an autonomous piece of code and highly reliable when executing the pre-programmed set of conditions, it will be useful in the real world with fluctuating variables if there is a connection, an oracle that feeds and updates it will real-time data. That is what ChainLink does, and while acting as a gap between on-chain and off-chain infrastructures, they enable smart contracts like Tron’s access verifiable APIs, real-time data fees or payments while remaining decentralized without a single point of failure or downtime.

It is this agent, an oracle that Tron-based smart contracts will draw their source from if this spreading rumor is indeed true. While unconfirmed by the Tron Foundation or ChainLink, this “collaboration” will remain as it is—conjecture.

Still unconfirmed but possible @Tronfoundation + @chainlink partnership being announced tomorrow. This email was supposedly sent by the $TRX foundation.#Chainlink can trigger #SmartContracts on any #Blockchain.

@justinsuntron $LINK #TRON pic.twitter.com/Zt2MNqpgSO

— Hashed Fate (@HashedFate) March 12, 2019

Nonetheless, this is good news and days after announcing a liquidity creating partnership with Tether, a connection that would see smart contracts activate based on real-time signals will make the network and by extension TRX more desirable for businesses. Already, Tron dApps are drawing more volumes surpassing those of Ethereum and EOS cementing the Foundation’s bottom line.

Candlestick Arrangement

Tron

Even so, TRX is down to 11th in the market cap ranking after two weeks of dismal performance. TRX is down 2.5 percent from last week and relatively stable in the previous day. Because of this and unexpected demand in lower time frames, our last TRX/USD trade plan is valid.

Therefore, bulls are in control although the lack of confirmation and TRX close above 2.5 cents should be a worry. Our confidence relies on the price action of the past two days. Visibly, TRX prices are printing higher highs, away from the lower BB meaning momentum is building up.

However, before we recommend longs, prices must break and close above 2.5 cents, confirming the three-bar-bull reversal pattern of Mar3-5.

Technical Indicators

As mentioned above, a single bull bar thrusting prices above 2.5 cents would usher in TRX demand that would likely drive prices towards 3.1 cents.  For that to print out, volumes must exceed 6.9 million average and 13 million of Mar 4.

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Dalmas Ngetich
Dalmas Ngetich

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.

Read more

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.

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Reason to trust

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