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Tron’s Adoption Drive Not Paying Dividends? TRX Meltdown

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

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  • Tron prices bearish, on a downtrend, retesting main support
  • BitTorrent partner with TronCard via Grid as they drive towards adoption
  • Transaction volumes shrink 50 percent from averages of 16 million to 8 million

It’s all about adoption, and as Tron Foundation strike partners, BitTorrent is partnering with TronCard. Users will carefully spend their TRX spurring demand especially if the application is seamless. It is the necessary building blocks needed for TRX to rally from 2.3 cents to 6 cents.

Tron Price Analysis

Fundamentals

For cryptocurrencies and digital assets to make waves, then coin expenditure is mandatory—not just holding. As rightful owners of BitTorrent, it is good news that TronCard is partnering with BitTorrent days after a successful ICO and consequent listing at various exchanges.

TronCard runs via Grid, a new concept designed specifically for prepaid cards. In this arrangement, a user receives a TronCard preloaded with TRX just like they would have a regular credit or debit card. However, unlike other cards, owners receive interest ranging between 2.5 percent and 3.5 percent of their total TRX holdings.

The card is technically a Tron wallet with a Poppy interface. As a result, TronCard is a simple yet powerful and versatile option for everyone promoting cryptocurrencies and their eventual adoption. With Grid—a product built on the Tron platform, integration, not only will users enjoy a smart wallet and anonymity, but there will be the comfort of using a secure wallet that is regular–but better– than the mainstream.

Candlestick Arrangements

Tron

It is highly likely that TRX is re-calibrating and shaking off the pumping effect of late Jan 2019. At spot rates, the coin is changing hands at 2.3 cents and down 8.4 percent from last week’s close. Because of sellers pressing the gas pedal in the last few days, TRX prices are back to our main support line and could even break below the lows of the double bar bull reversal of Jan 20-21.

From our last TRX/USD trade plan, we said such an event could trigger losses towards 2.1 cents completely invalidating our overall bullish stance of TRX.

Ideally, what we want to see is a recovery above 3.1 cents—Jan 27 highs as bulls of late Dec and throughout Jan are confirmed. After that, it is likely that the bull breakout pattern of Jan 8 will hold as prices snap back to trend rallying above 4 cents and above 6 cents.

Technical Indicators

With every low, participation levels shrink—averages are down from 16 million of late Jan to around 8 million as registered on Feb 13. If anything, this is negative, and all that we need for bull trend resumption is an injection of buy demand pumping prices above 3.1 cents with high trade volumes exceeding 42 million of Feb 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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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

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

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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