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#Tron Price Analysis

TRON Price Analysis: What is going on with TRX?

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TRX price as of October 8, 2018, the price is $0.02298. However, due to significant advancements, TRX would be a better option for long-term investments.

Listing recent updates concerning TRON and TRX price analysis

 

The rise of the cryptos

A currency is nothing a means of the store of value. The currency has both proven to become advantageous as well as disadvantageous. Before currencies, the barter system of exchange of goods and services was highly popular. People of the earlier days used to exchange the services in which they were highly specialized at, in return of which they used to receive some other form of service in the field, which the other person was specialized at. Nevertheless, the current financial industry has advanced by leap and bounds. As a result of which, better cryptocurrencies are being developed on a consistent basis.

The smart contract based TRON blockchain platform, has been one of the most cited projects of 2018, as it has been portraying its capability to the world, through its various advancements in the recent days.

 

How did Justin Sun gain people’s trust?

The MainNet launch of the TRON project was on 25th June 2018. To ensure the inflation proof and stability of the coin, almost 1 billion TRX tokens were burnt by the TRON Foundation. The total supply of the cryptocurrency tokens is, however, 99 billion coins. To further regain confidence and reliability among its community members, the TRON Foundation along with the Founder, Justin Sun went ahead and locked there 33 billion XRP reserves, until 2020. By doing so they have indirectly communicated that they wouldn’t be dumping their reserves in the market.

 

Exciting stats of the TRON blockchain and incorporation of the BitTorrent protocol

Also more recently, on 29th September 2018, the founder of TRON Justin Sun, had gone live and revealed various achievements. He specifically mentioned that the number of users incorporating the TRON blockchain project, is 20% more than its competitor the EOS Blockchain platform, with a total number of users being 400,000. Also, the recent acquisition of BitTorrent, one the most decentralized form of internet service has opened up the TRON community for its incorporation in the Chinese Market too.

 

Extracurricular activities along with future roadmaps of the TRON blockchain

The Founder, Justin Sun is also a great philanthropologist where they have collaborated with the Blockchain Charity Foundation (BCF) along with United Nations Development Program, to assist the poor and needy across the world. During an event Justin Sun, and also mentioned about its incorporation of a brand new decentralized application by the Blockchain platform. The foundation is highly innovative as they are looking forward towards their next milestone of bringing TRON within the top 10 cryptocurrencies. They plan to do it by collaborating with the best services of BitTorrent and TRON. Explicitly, they would be incorporating the BitTorrent extension protocols to increase the capabilities of the TRON blockchain.

 

The founder recently graduated from the Hupun University

The Founder also made it very clear that one of his main ambitions, would be concentrating upon the cultural image of the foundation. As a believer in Jack ma’s principles, Justin Sun, recently acquired his degree from the Hupun university in China. He claimed his degree after 3 years of education at the University. The Chinese business magnate, Jack Ma, congratulated the young entrepreneurs, Sun, for his fantastic work ethics and consistency. Sun also revealed one of their most awaited TRON Chrome Wallet, which would be incorporating various plugins to enable the users to access TRON wallet from one of the most popular web browsers.

 

Understanding the price fluctuations in TRON from the past few months.  

 

May

According to experts, higher return on investments could be availed by investing in TRX when compared to other cryptocurrencies. During the initial days of May, the price of the TRX was around $0.1, which then drastically fell to almost $0.06 by the month end.

 

June

From $0.06, the price broke past its support level at $0.04 and reached almost the all-time low of the month which was $0.036.

 

July

The support level at $0.034 was also broken in this particular month, as the prices plummeted to $0.032.

 

August

The prices slipped drastically from $0.03 to a steep $0.02.

 

September

The prices, since then, have been recovering and trading around $0.025.

 

And finally, as of October 8, 2018, the price is $0.02298. However, due to significant advancements, TRX would be a better option for long-term investments.

Note: This article is only the opinion of the writer, and the article is not a financial advise in any form whatsoever. The reason is requested to do his/her due diligence before making any investment in any crypto currency including TRX.

#TRON

TRX Daily Trading Signals: 19 October

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TRX is in consolidation. The bullish pressure from the support area at $0.02470 of 17th October was sustained by the 4-hour opening candle of 18th October

Dominant bias for Tron (TRX): Ranging
Resistance Levels: $0.02800, $0.02900, $0.03000
Support Levels: $0.01700, $0.01600, $0.01500

 

TRX is in consolidation. The bullish pressure from the support area at $0.02470 of 17th October was sustained by the 4-hour opening candle of 18th October at $0.02495. The bullish pressure pushed the cryptocurrency up to $0.02573 in the resistance area and lost further momentum to continue the upward movement as the bears gradually return. The bears did state a come with an engulfing candle at $0.02560 as TRXUSD made a low of $0.02467 in the supply area below the 34-EMA.

 

The relative strength index is at 46% and it points down which implies a downward movement in price of the cryptocurrency. Price sill lies below the 34 EMA an indication of bear pressure.

TRX is in consolidation and trading between $0.02600 in the upper resistance area and at $0.02350 in the lower support area of the range. Traders should expect a breakout at the upper resistance area or breakdown at the lower support area as a winner must emerge between the bulls and the bear.

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#Tron Price Analysis

TRON in high demand. TRX Rises more than 11%, other altcoins show improvements

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The top 20 cryptocurrencies by market capitalization are seeing greater movements with Tron exchanging twofold digits higher today.

The top 20 cryptocurrencies by market capitalization are seeing greater movements with Tron exchanging twofold digits higher today adding 12% to bring TRX prices up to $0.02359. Tron has recovered all misfortunes in the ongoing dump and has returned to its last end of the week level. Justin Sun’s promotion continues directing out those FOMO tweets which are right now driving energy into Tron’s price;

 

 

TRXUSD Price Chart 13 October

TRXUSD Price Chart 13 October

 

The Reddit feed has run wild with speculations regarding who this new ‘industry giant’ accomplice could be that as it may, as has been the situation previously, it could be another eruption. As in the top ten, most different altcoins in this segment are exchanging somewhere in the range of 2 and 4 percent higher on the day, making a little recovery from their enormous drops.

There are a couple of pumps as regular toward the beginning of today in the top hundred cryptocurrencies with Digitex futures entering with a 27% pump. Augur is additionally making 15% on the day to move over $13 indeed. For the losses, Dropil dropping a little more than 7% in the course of recent hours.

cryptocurrency market cap has pawed back 1.5% since a similar time yesterday. This has expanded market top to $202 billion which is still more than 8% lower than this time a weekend ago. Bitcoin predominance remains somewhat higher at very nearly 54%.

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#Bitcoin

Expert Take: Cryptocurrency Markets followed Stock Market Crash

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Almost all stocks are in RED as the stock market crashes as DOW Jones also drops 800 points, which is the lowest in the last 8 months. Crypto price analysis

A Black Wednesday for the Stock Market

Almost all stocks are in RED as the stock market crashes as DOW Jones also drops 800 points, which is the lowest in the last 8 months. The sharp sell-off was even greater at the Nasdaq exchange, home to Apple, Amazon, and others. The Nasdaq fell over 4%. Wednesday marked the fifth consecutive daily decline for the S&P 500, the longest losing streak since November 2016.

 

Japan, South Korea & Asia Panic

According to the speculations, the stock markets have crashed decently due to panic in South Korea, Japan & Asia. This panic can also be seen shifting to Cryptocurrency markets as major investors in South Korea and Japan have panicked, and clearly brought in the same sentiment to Bitcoin & other cryptocurrencies.

 

Cryptocurrency Crash – the right time to buy in?

Coinmarketcap charts demonstrate a sharp and sudden sell-off in crypto markets happening at around 18:00 UTC on October 10. At 18:09, the price of bitcoin was sitting at $6,562.28, or, in other words, it had spent the majority of the day. Not as much as after an hour, at 18:54, bitcoin had dove roughly 5% to $6,314.62.

Different cryptocurrencies were hit with price drops around a similar time, albeit most altcoins experienced altogether more awful drops.

ETH dropped 9%, for instance, and XRP dropped 11.25%. Bitcoin Cash dropped 10.85%, EOS lost 7.57%, and Stellar lost 8.85%.

As we go to press, just six digital currencies in the main 100 have picked up over the most recent 24 hours. Aeternity has increased 8.42% throughout the most recent 24 hours, for instance, and right now sits in the #31 position by market top by and large.

It appears to be improbable that the harm will be constrained to Wednesday – in any event in customary money related markets.

Is it right time to buy into Bitcoin and other cryptocurrencies? Give your opinion in the comments section below.

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