Tron Price Analysis: TRX Surge, can it Flip Ethereum to Second?

Dalmas Ngetich

1 year ago

2 mins read

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Tron price is up 39.5 percent from last Tuesday
Platform is attracting gamers thanks to Tron Arcade
Transaction volumes are fair and trading within a bullish breakout pattern.

No doubt, Tron (TRX) is one of the best performers in the last week. It is up 39.5 percent at the time of press and trading within a bullish breakout pattern after clearing 2.5 cents. At this rate, TRX may end up testing 4 cents by the end of January.

Tron Price Analysis

Overview

There are no permanent positions in the top 10. A simple glance at coin trackers’ statistics and it is clear that coins are tussling as they climb up the liquidity table. A case in point is Tron–and days disparaging comments from Stellar’s Jed McCaleb, Justin Sun may be actualizing his realities of making TRX one of the most liquid coin.

At spot rates, TRX is up 11.8 percent in the last day, and a massive 39.5 percent from last Tuesday meaning the coin is now trending at ninth. Of course, this is endorsing for traders reeling from 2018 damage.

Fundamentals

Buoying these are fundamental developments and a superior platform that platforms launched in legacy smart contract and dApp launching sites are finding irresistible. Aside from EtherGoo and BitGuild, Tron has ambitious plans of attracting developers who will instead roll out dApps surpassing those at EOS.

EOS is in hot water after allegations arose that a major part of its blockchain governnance, led by Chinese crypto exchange Hubobi, may be involved in a corruption scheme. EOS’ parent company and Huobi issued public statements, and refrained from admitting or denying the charges.

— John_Addington (@340mm) October 6, 2018

As we know EOS use the same dPoS consensus algorithm and Block Producers but with allegation—and evidence of bribing, corruption and centralization claims, Tron “purity” might, after all, be the last haven for developers seeking stability and support.

I have submitted Proposal #13 to modify the energy limit to 100 billion, which will be effective on Sunday 20:00 PM(GMT+8), please vote for proposal #13. #TRON #TRX $TRX https://t.co/RtTvuRlTgg

— H.E. Justin Sun 孙宇晨 (@justinsuntron) December 27, 2018

Then again there was approval of Justin Sun’s Proposal 13 which aims to reduce smart contract costs and energy limits from 20 Sun to 10 Sun.

Candlestick Arrangement

Price wise and TRX is bullish and trading within a bullish breakout pattern. As visible from the chart, not only are TRX prices above 2.5 cents confirming gains of mid-Nov 2018 but the breakout is at the back of above average volumes—26 million versus 13 million.

Because of this, it is clear that TRX bulls are in charge and may reverse Nov 2018 losses. Everything else constant, both set of traders should buy TRX at spot prices—or wait for pullbacks in lower time frames– with first targets at 4 cents and stops at 2.1 cents.

Technical Indicators

Transaction volumes are above average, and while today’s breakout volumes—26 million– didn’t exceed those of Nov 20—65 million, it was double the current averages of 13 million. As a result, we expect TRX bulls to print higher in coming days.

All Charts Courtesy of Trading View–BitFinex

Disclaimer: Opinions are those of the author. Do your Research.

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.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.