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

Tron Price Analysis: Bottom Line for TRX is Privacy, Justin Sun has Plans

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

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  • Tron prices resume trend, up 1.6 percent in the last day
  • Justin Sun plans to incorporate ZK-SNARKs and make TRX a privacy coin
  • Transactional volumes must spike above 31 million reaffirming bulls and confirming current trend

Days after a successful ICO, TRX bulls are back. It is likely that prices will expand above 4 cents. Besides, future additions of ZK-SNARKs will increase as the platform attracts privacy-centric investors.

Tron Price Analysis

Fundamentals

BitTorrent’s BTT ICO may have been an overwhelming success indicating that Tron is indeed a central player in the crypto world. However, even with all cylinders firing, Justin Sun is not sated. The desire here is to make TRX a privacy coin. They will perhaps follow the Ethereum route whose founder, Vitalik Buterin, has proposed ZK-SNARKs for scalability.

Luckily, ZK-SNARKs can also be used to implement privacy features. ZCash did that successfully and TRX may the next major coin to try out this feature. In an exclusive interview with Rachel Wolfson of Bad Crypto podcast, Justin Sun raised his concerns about trackers binning privacy saying:

“People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that.”

As such, their ultimate decentralization goal is to “improve the privacy within the network.” That means ZK-SNARKs can be a perfect fit addressing this need.

Candlestick Arrangements

Tron

Meanwhile, TRX is up and could recoup yesterday’s losses. The coin looks likely to close higher, and at the time of writing, it was up 1.6 percent against the USD. Because of this rejuvenation, buyers are back as they find support from around 2.5 cents.

In line with our previous TRX/USD trade plan, we suggest risk-off traders to buy on every dip as long as prices trend above our main support previous resistance at 2.5 cents. On a more conservative approach, risk-averse traders can wait until prices rally above Jan 27’s inverted pin bar at 3 cents. After that, they can ramp up on dips with modest targets at 6 cents.

Technical Indicators

In the past week, a stand out bar is Jan 28—31 million versus 16 million. It is bearish and against the existing trend. Regardless, with a defined direction, we shall look for sharp movements that could wipe out Jan 28 losses, cementing bulls. Even so, the bottom line is that the bar should have high volumes exceeding 31 million and current averages of around 16 million—on the lower limit. Only then will bulls be in charge, setting the pace for further gains above 4 cents.

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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

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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