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

Tron (TRX) Breaks Free From 5-Month Range, Rally To 4 Cents Possible

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis tron TRX

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  • TRX flips Bitcoin SV after surging 19.8 percent
  • After six months, TRX is above Q1 2019 trade range

Investors are not as excited as they would otherwise be if it was another project promising a “huge and amazing” announcement. It all has to do with Justin Sun’s history. After Liverpool FC and Baidu mess, they are doubtful if Sun will deliver on June 1st. If he does, TRX could surge above 4 cents.

Tron Price Analysis

Fundamentals

That the crypto space is competitive is true. With Ethereum leading the smart contracting arena while remaining decentralized is a feat. New entrants like Tron and EOS took a different route, prioritizing speed over decentralization. That may explain why critics are often trailing figure heads.

All the same, talks of centralization aren’t slowing down Justin Sun, the co-founder of Tron. After misleading investors once that Tron has signed a deal with Baidu and later with Liverpool FC, the community seemed to have learned.

On May 26th, he said there is “something huge and amazing” that could drive BitTorrent and TRX prices. However, investors will have to wait until June 1st for all him to divulge details.

Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 26, 2019

But, it seems like investors are reluctant, and it is understandable after failed promises that turned out to be marketing stunts.

Candlestick Arrangement

Tron TRX

All the same, TRX is back to the top-10, surging 19.8 percent in the last week. From Justin’s “promise,” TRX may rally.

Because price action aligns with our overall bullish stance, there is an opportunity for traders. Visible from the daily chart, prices are trading above two key previous resistance levels, now support, at 2.7 cents and 3.1 cents.

As a result, it also means TRX broke above Q1 2019 0.6 cents range at the back of increasing participation level. In line with previous TRX/USD trade plan, traders can buy the dips with a modest target of 4 cents in a bullish breakout pattern.

Technical Indicators

Since the path of least resistance is up and behind the upswing is a spike in trading volumes, May 26th bar anchors this trade plan. It has high participation of 17 million against 8 million.

Similarly, the confirming bar had high trading volumes of 22 million versus 9 million averages. Ahead of June 1st, it is likely that trading volumes will increase above 22 million, cementing buyers and ushering in another cycle nullifying bears of late 2018.

Chart courtesy of Trading View. Image Courtesy of Shutterstock
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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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
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