Tron Price Analysis: TRX Up 4.1 Percent, Reaction at 2.1 Cents Important
Latest Tron News
Some individuals like Roubini have no kind words for Bitcoin. There are others like Jed McCaleb who think most ICO projects lack the technical merit to come through from their flowery white papers. He thinks Tron–and 90 percent of other ICO projects, is garbage.
In a recent interview with Yahoo Finance, he is astounded and yet to comprehend why investors continue to pour funds to projects that might not lift off.
“The allocation of capital and resources is wild to watch when these projects that have zero technical merits get millions of dollars. It seems like a big shame. Hopefully, that will start to change. One of the nice things that come with the market calming down—I still say it’s not a bear market—it means there’s less of that.”
Indeed, he may or may not be right. Considering the bear market of 2018 that saw crypto projects die, increasing the list of Dead Coins, there is some element of truth in his words. But, Tron—despite his rather harsh comments, is a solid project whose native coin, TRX is liquid and listed at most mainstream exchanges.
2018
: Main Net launch, more transaction volume vs ETH, more accts vs EOS, 1M users in 183 days, 80+ DApps in 60 days, top 10 crypto. 2019
: Top 4, larger ecosystem vs ETH, @BitTorrent on the #blockchain,
largest decentralized ecosystem. Happy New Year & thank you! $TRX
— Justin Sun (@justinsuntron) December 31, 2018
Besides, there is a vibrant development team ensuring that deadlines are met while honchos consistently strike deals attracting developers and users. Because of this, the New Year started with a storm with Justin Sun defending his project saying if anything Stellar is not their competitor. He added that the platform is technically centralized and though it claims to support dApps, none are running on Stellar.
We don't think @StellarLumens is our competitor at all since they have extremely low transaction volume, centralized&non-democratic system and 0 Dapps. #TRON will take their place within 2019 anyway. #TRX $TRX #XLM https://t.co/kPuTIwiI0r
— Justin Sun (@justinsuntron) January 1, 2019
Tron (TRX) Price Analysis
The path of least resistance is encouragingly, upwards. At spot prices, TRX is up 4.1 percent against the USD but trading at last week’s close. Overly, we retain a bullish outlook, and as long as prices continue to oscillate, trading within a tight trade range with caps at 2.1 cents and 1.8-9 cents on the lower side, we shall take a temporary neutral stand—but with a bullish outlook.
As mentioned in previous TRX/USD trade plans, buyers are in prime position to reap more if there is a follow through of Dec 17-21 surge that propelled TRX prices from 1.2 cents to spot rates.
In this bull flag, the best approach is to trade breakouts and therefore, we expect participation to pick up once TRX rally above 2.1 cents. The first target will be at 2.5 Cents and later 3 Cents with stops at 1.9 cents.
Our TRX/USD trade plan is as follows:
Buy: 2.1 Cents
Stop: 1.9 Cents
Target: 2.5 Cents, 3 Cents
All Charts Courtesy of Trading View
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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by Dalmas Ngetich on January 02, 2019 at 09:30PM