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Tron Price Analysis: TRX—BTT Inverse Relationship, Demand Taper

[Published: 2019-02-05T17:00:10Z] [Author: Dalmas Ngetich] [Powered by: NewsAPI.org]
Tron prices in range mode but bullishBitTorrent benefiting from BTT hypeTransactional volumes low despite yesterday’s upswings

Although TRX prices are retracting from yesterday’s highs, it stands to benefit from the BTT demand. At the time of writing, TRX is down 1.4 percent from yesterday’s close, but as long as prices are above 2.5 cents, aggressive traders can initiate trades on every dip. Modest targets will be at 4 cents.

Tron Price Analysis

Fundamentals

BitTorrent is and will continue to be a game changer for Tron. Backed by a relentless co-founder and a visionary team, Tron is slowly but surely changing the blockchain landscape. Note that, they were successful in their crowdfunding, raising $7.2 million in 18 minutes. All the same, critics claim the ICO was unfair, favoring deep pockets.

However, with an airdrop for those who placed buy orders but missed out, there has been a recompense of some sorts. It has been even made better by BTT prices surging with coin trackers indicating that BTT market cap stands at $150 million.

Each BTT token is trading at $0.001065 at the time of writing meaning it is up on average 42 percent against BTC and TRX. At that level, the BTT’s valuation exceeds Tron’s initial acquisition price said to be at $120 million.

Candlestick Arrangements

With favorable price action and solid fundamentals, TRX is reaping huge benefits from the hype—and surge around BTT. Though the 42 percent rise is yet to be replicated by TRX, bulls appear to be in control. Like in our latest TRX/USD price analysis, every dip should be a buying opportunity for both sets of traders.

The rule applies as long as prices are trading above 2.5 cents—our ...