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Tron Price Analysis

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The cryptocurrency market opened today, November 9, to almost all the cryptocurrencies seeing red. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all witnessed a price bleed after a few days of price hikes. At the moment of writing, there was a systematic fall across the cryptocurrency spectrum.

1 hour:

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The Tron one-hour graph shows the cryptocurrency form triangle with the uptrend and downtrend acting as the slopes. The price uptrend saw the price rise from $0.0232 to $0.0247while the downtrend saw Tron falling from $0.0248 to $0.023. The immediate resistance was holding at $0.0248 while the support has been maintaining at $0.0215.

The Parabolic SAR points to the price dropping which is evidenced by the markers being above the candles. This trend has been persistent for more than 24-hours.

The Chaikin Money Flow indicator shows the graph right at the axis, which still puts the cryptocurrency in the bullish zone. The fall from the top of the graph also indicates the money going out of the market due to the change in investor sentiments.

1 day:

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The Tron one day graph shows the coin suffering an acute downtrend which has bought the price down from $0.0571 to $0.0231. The support for the cryptocurrency has been holding at $0.0182.

The Bollinger band shows the dominant sideways movement as indicated by the strict pipe like formation of the upper band and the lower band. Compared to the earlier breakouts, the currency Bollinger clouds have significantly reduced in size.

The Awesome Oscillator has shown a drastic reduction in the market momentum with the graph almost negligible now. The immediate green markers point to a hike in the momentum.

Conclusion:

The above-mentioned indicators majorly point to the current sideways price movement persisting. The Chaikin Money Flow indicators, on the other hand, shows a positive change in the investor sentiments.

Bitcoin.com’s Roger Ver talks about the upcoming Bitcoin Cash [BCH] hard fork

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The upcoming November 15 hard fork has been considered as a decisive point for Bitcoin Cash [BCH], with several proponents of the cryptocurrency waiting for the event.

In a recent interview with Crypto trader Ran NeuNer, Roger Ver, the Chief Executive Officer of Bitcoin.com, spoke about the hard fork as well as the conflicts within the Bitcoin Cash system. Ver had also stated recently that he does not really know the impact the hard fork will have on the BCH network but believes in a positive turn. He said:

“Even when the big blockers wound up having basically the majority of the hash rate – they had more than 50% at one point – they were still scared to set a flag date… Like, okay here’s the date we’re gonna mine the bigger block. And because they were all scared to actually take action we wound up where we are.”

During the interview, Roger Ver also said that the reason why there is so much conflict within the BCH system is because of how decentralized the cryptocurrency is. According to him, everyone agrees that Bitcoin Cash should be accepted as cash across all platforms.

Ver even brought in nChain’s Craig Wright, saying that he is his own person and his comments are not going to have any effects on the platform Craig Wright was also in the news recently when he was attacked by Bitmain’s Jihan Wu who called Wright a “Blockstream spy”. Wu had said:

“From the very beginning, I have had a conspiracy theory that CSW is a spy controlled by Blockstream.”

The CEO of Bitcoin.com also pointed out that there were two ideologies in the BCH network, one that wants the 128 MB block size to be implemented as soon as possible while the other party wants it to be launched in May 2019. The discussion between NeuNer and Ver also informed users that the two factions were led by Craig Wright and Calvin Ayre, while the other size was spearheaded by Jihan Wu.

Onward And Upward: Tron Partners NeoWorld

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If you consistently follow the crypto news, you would agree that Tron is doing all it can to make sure that the cryptocurrency emerges as the best coin. It has entered into several partnerships to ensure it sails to the top. The most significant news today is of a collaboration that it has established with a 3D virtual world company, NeoWorld.

In an official announcement by Tron founder and CEO Justin Sun via his Twitter account, he stated that the Tron foundation had entered a strategic partnership with NeoWorld. New Tron partner represents the first of its kind virtual world atmosphere.

What Tron Expects From The Partnership

NeoWorld involves more like playing the popular game Sims whereby the player has the opportunity to explore new frontiers as well as re-imagine their 3D reality. However, the only difference is that NeoWorld allows the users to build connections as they socialize through the NeoWorld virtual ecosystem, which is wholly based on the blockchain.

The cooperation between these two parties will mainly revolve around entering the NeoWorld, planning NeoWorld Exclusive Island as well as strengthening the cooperation within the community ecosystem. There are no further details issued yet on how NeoWorld Exclusive Island will benefit Tron foundation, but we’re well aware of what NeoWorld can offer, right?

For instance, it offers token economy, the creation of avatars to represent users in the virtual world, offers blockchain games, exploring virtual 3D frontiers, allows the player to build wealth successfully as well as create skylines.

Subsequently, all the users can create personal worlds as well as participate in the communication. Users can even organize elections and establish very own world whereby Ethereum-based tokens would help to serve the purpose of payment between trades as well as activities which players initiate by themselves.

Tron is on an onward and upward move on a daily basis, and the news of its partnership with NeoWorld is nothing short than an exciting topping for Tron fans – making it exciting times for Tronics (the TRX community as Justin Sun addresses them) altogether.

Since NeoWorld is the world’s first sandbox game, all looks great for the Sun-led blockchain project. Tron may not be there yet but things are shaping well for them and who knows what we may wake up to about Tron.

Tron [TRX] Price Analysis

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The past few days have been a roller coaster ride for the cryptocurrency market, with several coins witnessing a significant rise and fall in prices. Cryptocurrencies like Bitcoin Cash [BCH], Ripple[XRP] and Tron [TRX]  have all undergone significant changes in prices with the investor sentiment leaning towards an expected surge during the current time period, a call back to 2017’s ‘crypto-boom’.

1 hour:

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Tron [TRX]’s rise and fall are clearly seen on the cryptocurrency charts with the uptrend putting the price in the $0.0225-$0.0246 bracket while the downtrend bought the Tron’s value from $0.0248 to $0.0237. The immediate resistance of the cryptocurrency has been lifted to $0.0248 and the support is holding at $0.0214.

The MACD line and the signal line have both embarked on a journey below the MACD histogram where the signal line has peaked a bit, indicating an imminent price hike.

The Relative Strength Index [RSI] has bounced back from the oversold zone, a sign of the increase in buying pressure of the cryptocurrency.

1 day:

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The one-day Tron chart points to the price slowly being lifted out of its sideways movement pattern, all thanks to the significant hikes that occurred over the past few days. The long-term chart still indicates a downtrend, with the prices dropping from $0.0391 to $0.0246. The long-term support has been holding at $0.018.

The Bollinger bands indicate a sideways movement which is put into picture by the upper Bollinger band and the lower Bollinger band taking the shape of a pipe. The size of the Bollinger clouds also shows a lack of substantial breakouts in the Tron prices.

The Chaikin Money Flow [CMF] indicator has been quite active, with the graph breaching the axis. The entry into the upper quadrant of the CMF graph is a bullish sign for the cryptocurrency’s prices.

The Parabolic SAR shows a predominantly bearish trend with a majority of the markers staying above the price candles. This is also a sign of the lack of trend changes in the Tron prices.

Conclusion:

The indicators seem to indicate an imminent price hike as shown by the MACD graph, CMF, and the RSI. The indicators also show that the increase will also enable in raising the immediate resistance of Tron.

Tron [TRX] And Bitcoin Cash [BCH] Slip Of The Price Ramp

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The stupendous rise that the cryptocurrency market witnessed over the past few days seems to have come to a halt after the prices started dropping again. Popular cryptocurrencies like XRP, BCH and TRX all saw price drops, a sign of the market volatility during the period christened by cryptocurrency enthusiasts as ‘crypto-winter’.

At the time of writing, Bitcoin Cash [BCH], the fourth largest cryptocurrency in the market, was dropping by 4.85% with a market cap of $10.230 billion. BCH was trading for $586.40 with a 24-hour market volume of $962.617 million. The cryptocurrency, whose upcoming hard fork has created a buzz in the cryptoverse, had undergone a massive spike of 42% over the past seven days.

BCH chart e1541659326359

A majority of Bitcoin Cash’s volume was held by OKEx, with a total grasp of $106.549 million. OKEx was closely followed by DigiFinex where $85.476 million of the total BCH trade took place. The BCH hard fork was also put under the spotlight when Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that Roger Ver was involved in Bitcoin Cash just for the ‘tokens’ and not for anything else.

Another cryptocurrency that was buckling under the market volatility was Tron [TRX], sliding at the rate of 3.06%. The cryptocurrency was trading for $0.0235 with a total market cap of $1.547 billion. A major portion of Tron’s 24-hour market volume was held by Bithumb, on which $43.552 million worth of Tron transactions took place. Bitthumb was closely followed by Binance, the Changpeng Zhao led cryptocurrency exchange enjoying an $8.175 million grasp on the total trade volume.

TRON chart e1541659678642

Tron made news recently when the Tron Foundation announced a new bug bounty program on the famous Hackerone. The Foundation aimed to propagate their mission towards mainstream adoption by offering $10,000 as a reward for finding critical issues.

The critical issues stated by Tron covers bugs that can take control of network nodes that can be operated from remote locations. The Foundation has also promised rewards worth $6000 for uncovering other issues pertaining to Denial of Services on P2P networks.

Ethereum [ETH] Maintains Its Stronghold On The Cryptocurrency Charts

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Ethereum [ETH] has been fighting hard in the cryptocurrency market trying to fend off XRP from taking over its position as the second-placed cryptocurrency on the charts. Just recently, XRP had taken over Ethereum to become the cryptocurrency with the second most market cap on the charts, after which ETH regained its dominance.

At the time of writing, Ethereum is trading for $219 with a total market cap of $22.57 billion. ETH also held a 24-hour market volume of $1.983 billion.

Ethereum also made news recently when Glen Weyl, the Principal Researcher, Political Economy and Social Technology at Microsoft Research New York talked about the Ethereum blockchain and its Co-Founder Vitalik Buteruin. He stated:

“It seems to me that in the same way, the “use case” of @ethereum is less any particular technical question and more offering a vision of the future that can save us from returning to the 1930’s next time we hit a recession. I wonder what @VitalikButerin thinks of that.”

Vitalik Buterin was not someone to shy away from the use cases of the Ethereum network, saying that Ethereum 2.0 will be 1000 times more scalable than its predecessor. The Co-Founder of Ethereum banked upon the latest version of Ethereum called ‘Serenity’ and said that it is aimed to be more secure. Buterin also said that Serenity will be able to perform a multitude of operations while consuming very little energy. He added:

“Serenity is the world computer as it’s really meant to be, and not a smartphone from 1999 that can process only 20 transactions a second.”

Vitalik Buterin had also spoken about the Ethereum 2.0 upgrade by calling it a marked step up from the already established network. He said:

“It is a combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.”

Tron (TRX) Delivers On A New Milestone, Again

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Tron’s project includes something called “The Tronic Support Plan” which was created for a single purpose: to enhance and speed up the adoption of Tron’s TRX cryptocurrency. Yesterday, the Tron foundation announced officially that the plan’s third phase is successfully completed. This prompts the release of more than eighty-seven million TRX tokens.

Those coins used to be locked by the Tron foundation. They will be released into a locked address which ranks 489 among the 1000 known Tron addresses known to exist. But it’s important to notice that this will not create any kind of inflationary pressure on the asset because the number of tokens available will not be affected by this move.

The Support Plan Marches On

The foundation announced the news through its official blog. It was very clear in saying that it’s undertaking actions to ensure that all the community members that have been supporting the Plan since it started will get some kind of reward. The foundation stated that those released TRX coins would be cleared and the new address will be wiped out from the current locked addresses list.

Furthermore, the Foundation wrote that the tokens still in the platform’s care will be used to match the funds that are currently funding its supporters. The Tron community will be able to confirm all that once the platform releases everything next January 2020. The ownership of all the addresses that are being currently released will be transferred to the community.

The Foundation will remain in charge. It will release the funds to finance recognized supporters, and that will correspond to the tokens that haven’t been released yet to the public at large.

What about Tron’s future?

The Tron Foundation has been remarkably grateful to its community and supporters. It’s thought to be the most engaging blockchain project in the world, thanks to its leadership. And it seems it will continue to be the same in the present and the future as it’s thanked the community for becoming as big as a hundred million users since it went live, barely a year ago.

The project’s leadership reminded the community of the project’s aim, which is to turn the web into a decentralized ecosystem that runs on blockchain technology (Tron’s blockchain, more specifically). And that will enable the foundation to keep engaging supporters and users who have shown an incredible degree of faithfulness to the brand as well as the ideals.

The success shown by the Support Plan is expected to prompt the Foundation to change the total number of tokens in circulation at any time. The plan includes to publish, sometime soon, a list of all the community members that have been pivotal in supporting the project, and to honor them for the contributions they’ve made since the project started.

The Tronix token’s price remains cheap (some would say stuck). But the project keeps delivering results as every projected milestone is met with results that surpass expectations, especially by the Tron-skeptics.

If you are among the skeptics, take a bit of time to review Tron’s recent history. If you’re among the enthusiasts, don’t lose your head. There’s a lot of progress, but there is also a very long way to go.

Tron (TRX/USD)Technical Analysis

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The cryptocurrency market seems to have come out of its price slump with almost all the coins seeing price hikes. Popular cryptocurrencies like Bitcoin [BTC], Ripple [XRP] and Tron [TRX] all saw trend changes, lifting the prices above the level it was stagnating at for a long time. Tron [TRX] has been on quite the developmental roll for some time and the price hike has made the entire community exuberant. At the time of writing, Tron is growing by 2.7% with a total market cap of $1.581 billion and trading for $0.0241 with a 24-hour market volume of $81.699 million. 

1 hour: 

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The Tron trend lines show a clear uptrend, taking the price from $0.0232 to $0.0242. The price support for the cryptocurrency has been holding at $0.0215 while the resistance at $0.0257 has not been broken yet.

The Bollinger bands on Tron point to a clear divergence of the upper Bollinger band and the lower Bollinger band, which is indicative of the price hike. The expanded Bollinger cloud has come after a long sideways price movement interval.

The Awesome Oscillator [AO] has taken a turn for the better, showing an increased surge in the graph. The surge is a sign of the market momentum picking up in the cryptosphere.

1 day: 

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The one-day TRX graph shows a  major downtrend in prices compared to its peak in the earlier months. The support has been consistently holding at $0.0179 in a time period where the downtrend brought down the price of Tron from $0.05729 to $0.0241. 

The Relative Strength Index [RSI] points to the graph edging towards the overbought zone. The spike towards the upper zone is a sign of the buying pressure of the cryptocurrency being more than the selling pressure. 

The Chaikin Money Flow [CMF] indicator after crashing towards the bottom of the graph has slowly taken an upward path. The upward movement of the CMF graph tells that the money from the investors is coming into the market after a positive investor sentiment change.

Conclusion: 

Tron’s price increase may result in the price support being lifted from its earlier levels. The Bollinger bands, CMF, AO, and the RSI all point to a gradual rise with sporadic sideways movements interspersed in the Tron market.

CITYUPTAKE – A New Approach To Rewarding TRX Holders

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With the Tron community awash with new projects and tokens, finding those innovative projects with real value can be a challenge.  SesameSeed is setting a great example for how to launch new projects that have real promise for future value with Poppy, Eggies.World, and TronWatch.  Another such project that shows great promise is a venture that seeks to provide the benefits of active trading with the security of “hodling”.

CITYUPTAKE has been quietly building a strong reputation for rewarding its holders with rewards that claim to be multiples more than voting alone. Launched with very little fanfare in July, the project now boasts a voting portfolio of over 6 million TRX, a Telegram channel with over 500 members, and growing number of serious TRX holders.  The top 30 holders have contributed an average of over 200,000 TRX.

Jason Lavender, the Founder, claims to have created an opportunity to enjoy the potential gains from the volatility in the price of Tron by establishing a Trade Desk that CITYUPTAKE owners help build with their purchases of CITYUPTAKE.  This Trade Desk has grown rapidly from 25,000 TRX when the project began, to over 1.4 million to date.  TRX earned through active trading are shared to CITYUPTAKE owners each week.

Every CITYUPTAKE is backed by one TRX creating a pool of over 6 million TRX which are used to vote for SRs that provide the most lucrative rewards to their voters.  These rewards are shared daily with CITYUPTAKE owners.  Holders of CITYUPTAKE enjoy most of the SR rewards they would from voting, but also receive the weekly Trade Desk rewards as well.

Enthusiastic holders of CITYUPTAKE are quick to point out that the value of these rewards are three to four times the value of just voting, creating a stream of residual rewards that could become a very valuable flow of income should the price of Tron appreciate.

When asked about the end goal of the venture, Mr. Lavender shared that his objective is to manage a large fund that provides value for token holders while building an SR portfolio that can essentially play kingmaker and vault any SR candidate into Top-27 status, including CITYUPTAKE’s own “MRLAVMAN”, an SR candidate created in late October.

The CITYUPTAKE community is very excited at the prospect of sharing the rewards of an actively traded account that is funded by block rewards paid to a Super Representative.  A Trade Desk of a few million could quickly grow to much more.

The potential is real, but the road to top-27 is long.  Still, it might be worth your time to investigate CITYUPTAKE for yourselves.

Tron Price Analysis

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At the time of writing, Tron [TRX] is growing by 3% and is trading for $0.023. The total market cap TRX is $1.54 billion, with a 24-hour market volume of $87 million. A majority of TRX’s trade volume is held by BitForex, with transactions totaling $21.074 million worth of TRX. BitForex is closely followed by Rfinex, covering $13.136 million of all the TRX trade.

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The Bollinger bands look to be converging which indicate that we are still in a bear market. The Bollinger clouds on the other hand have expanded greatly, which may indicate a future entry in the bull market.

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The Relative Strength Index has been stable, close to the middle, which indicates an equilibrium between the buying/selling pressure. TRX, during its spike on November 3rd had started to climb towards the overbought zone after which the change in the investor sentiments bought it back down to the middle of the graph.

TRX price increase can also be explained by recently when Justin Sun’s announced that TRX will be listed on Bestex, United Kingdom based global digital asset spot trading service provider. Sun tweeted:

“#TRON will be listed on Bestex (http://www.bestex.io ), a global digital asset spot trading service provider founded in December 2017 and based in the UK. TRX/USDT will be available on November 16, 12:30pm (SGT). $TRX #TRX.”