Tron (TRX) Surges Over 7% as Altcoins Suffer Moderate Correction

[sirty143]

Following a bullish weekend for the market, the week has started with a pullback. During the weekend, the market climbed above $300 billion for the first time in 2019 and saw a number of cryptocurrencies set new 2019 highs. In its peak, the market climbed as high as $336 billion and saw the total trading volume nearly hit $100 billion on Sunday.

Tron, in particular, soared to a little under $0.039. This remains below its Year-to-date high of just above $0.040, set in early June. But just because it was not re-tested during the weekend, doesn’t mean it is not still in play. Today as many of the altcoins suffer a moderate pullback, Tron is resisting this and recording an equally moderate gain.

Through the weekend rally, Tron appeared to be everywhere, rising and dropping sharply. For every surge, the asset encountered a strong pullback and by the end of it had established resistance of $0.038 and support of $0.036.

Today the cryptocurrency started at around $0.037 before dropping to its support of $0.036 following a pullback starting yesterday. Quickly after finding support, the bulls have responded by pushing prices back above $0.038. The coin now looks set to re-test $0.039 and its year-high of $0.040 in the next couple of hours.

Tron (TRX) Price Update And Prediction

At the time of press, Tron is up by around 7% and exchanging for a little over $0.039. With a market cap of $2.6 billion, the asset has climbed back above Cardano (ADA), getting back in the top ten rankings.

The battle for the number ten spot has in recent weeks intensified with Stellar (XLM), Cardano and Tron looking to claim it. At the time of press, there is a little over $100 million separating the three.

Tron in the next few hours will look to maintain its current momentum and try to retest its all-time high. However, even if this is achieved, it is likely that it will cool down and drop a little if the rest of the market continues to slide further in the red zone.


Source: ZyCrypto

[jonathancool220]

7% is still a small value of TRX when raising the price because I still remember the time to SWAP to Mainnet the price exceeds 200%.
This incident was in 2017 when Bitcoin was Halving, but surely this was the effect of Justin Sun's Hive on Twetter.

[masudginanjar]

The chart is still a chart and will not be perfect because I am sure that with the presence of traders the price will not be the same as the chart.
I like TRON but I also need the certainty of the price of TRON, I know it by myself from personal experience.

[Bobcrypto]

After some certain buying spread for some days, there is likely a pull back may be due to speculations, poor demand on the crypto market. I think tron price has not reflected on the currently bull market, just a price shift from $0.02 to $0.0397 hight so far in 2019.

[kent47400]

7% is still a small value of TRX when raising the price because I still remember the time to SWAP to Mainnet the price exceeds 200%.

TRON also cannot impose their will on a price increase of up to 7% because TRON is indeed a real decentralized coin and is definitely the one who determines it is the traders and buyers.
If we see a price increase of 7%, I think it's pretty good than having to minus 7%. Cmiiw