Tron Price Analysis: TRX—LTC Flap Likely, Weiss Ratings Endorsement

Dalmas Ngetich

1 year ago

2 mins read

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Tron price is up 16 percent from last week’s close
Weiss Ratings endorse Tron, says platform popular
Transaction volumes thin despite increasing volatility

Of all the coins in the top 10, TRX is the most attractive. It is leading the recovery and up 6.7 percent in the last day. Part of this is because of supporting fundamentals—BTT crowdfunding and dApp dominance and not forgetting Weiss Ratings endorsement.

Tron Price Analysis

Fundamentals

It is streams of good news. Not only is Tron increasingly becoming popular, but their dApps dominate. According to data from DappRadar, five out the top 10 applications run off Tron blockchain. In a space where Ethereum is dominant, Tron is slowly making inroads.

First, it has to be the “Justin Sun Effect.” At only 28 years, he’s an influential figure in the space. Thanks to his promotion, many claim Tron is a marketing juggernaut—not a technology platform. Anyhow, everyone has their right to air views. Even so, Tron has the attention of Weiss Ratings.

We might give #TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied. #BTC #altcoins #bitcoin #crypto #cryptocurrency

— Weiss Crypto (@WeissCrypto) January 25, 2019

The US firm is an independent ratings company. In their recent analysis, the firm said they are giving credit where it is due even though they have been giving Tron a hard time. They go on to say the TRX/USD chart is the most bullish in the top 10 and popular.

Candlestick Arrangements

To quantify, TRX is up 16 percent against the USD in the last week. That’s not all. At the time of writing, the coin is up 6.8 percent from yesterday’s close meaning Weiss Rating observation is accurate. We expect this trend to continue in days ahead as demand for BTT pumps TRX prices.

TRX is indeed the top performer in the top 10, outperforming the likes of BTC and ETH. Since price action is on an upward trajectory, our previous TRX/USD trade plan is valid. In a bullish breakout pattern, we expect every dip in lower time frames to be a buying opportunity with first targets at 4 cents.

Suitable stops will be at 2.6 cents or Jan 25 lows—or the base of the lower time frame consolidation between Jan 24-25.

Technical Indicators

Aside from Jan 14 bull bar, Jan 21 is definitive as far as TRX price analysis is concerned. While we are net bullish, we also note that participation is reducing as total volumes drop from 50 million of Jan 14 to today’s average of 7 million. These averages are low and not representatives of the rapid price

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.
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