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

TRX Down 29.1% Even With The Launch of TronClass

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

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  • Tron (TRX) slides 29.1 percent week-to-date
  • The launch of TronClass will aid in Tron’s global reach and general awareness

For their global outreach, the launch of TronClass is beneficial for the cryptocurrency and blockchain space as a whole. Even so, that is not enough to tame sellers pushing TRX to the edge. At press time, TX is down 29.1 percent from last week’s close.

Tron Price Analysis

Fundamentals

That Tron has been grabbing headlines in recent days is true. From accusations of shilling and rumors of a police raid, the Tron foundation is unwavering as they trudge towards achieving their objective.

The goal is to ensure that Tron is a go-to platform from where project managers keen on realizing speed and scalability can quickly launch their dApp. Its dApp ecosystem is therefore active, contesting with EOS for the top position.

Nonetheless, the network’s creators are keen to see the platform change lives across the world. To that end, the launch of the Online TronClass will chart the way as far as awareness is concerned.

Our little workshop: #TRONClass is here! The purpose is to introduce and explain #TRON & #Blockchain related terms to those who are new to this area. In today's #TRONClass, we are going to explain what is #TRX. Check it out! #TRON $TRX pic.twitter.com/w9zNEleAjw

— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 14, 2019

In a 20 seconds video explaining what TRX is in a simple to understand language, the foundation plans to release similar videos distilling some aspects of their platform for everyone to comprehend their overall objective.

Candlestick Arrangement

Tron TRX

Like most altcoins, TRX is down 29.1 percent in the last week and back to the critical support line. By nullifying buy proposals following the breach of 3.1 cents, bears are in the driving seat.

Even so, while traders are positive of a price recovery, it all depends on the reaction of asset prices at 2 cents. Presently, sellers are pressing lower, and as bear momentum builds up, TRX bear candlesticks are banding along the lower Bollinger Band (BB).

All the same, 2 cents mark Q1 and 2 primary support and significant in this TRX/USD trade plan. Therefore, it is imperative that TRX prices find support at this level. If not, chances are prices may slide to all-time lows of 1 cent in a bear trend continuation.

Technical Indicators

Because of the above candlestick arrangement, June 27 bear candlestick correcting the over-pricing of June 23 to 25 leads this trade plan. It has high trading volumes of 32 million. Since 2 cents is the main support line, a reaction that will either lead to price degradation or recovery must be distinct. As such, the leading bar must be with high participation equal to or above 32 million. That will either spark buyers aiming for 3.1 cents or catalyze a dump towards 1 cent.

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

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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