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TRON [TRX]’s Legacy to be tested? – Sentiment Analysis – April 9

Vinod KA



TRON [TRX]'s Legacy to be tested? - Sentiment Analysis - April 9
Source: Flickr

The prices of some of the cryptocurrencies continue to fall while others are gaining some stability with regard to their respective supports. Most cryptocurrencies experienced a dip in the prices against US dollars, but among these cryptocurrencies who fell, all of them have maintained their prices against BTC. As a matter of fact, most of them have had an increase in their prices against BTC. The Bitcoin dominance still stands at 44.4% which has decreased by 0.2%. The last 24 hours’ statistics except for NEO, Vechain [VEN] and Verge [XVG] are in the red zone.

A group of investors, miners, journalists, skeptics, and influencers were interviewed and a carefully structured segment called the sentiment analysis is framed out of this. The general opinions from around the world have been presented without filtering to ensure a good quality content for our readers. This analysis will be of the cryptocurrency TRON [TRX] which is currently placed at the 13th spot in the rankings.


TRON is one amongst the few coins which did not fall drastically during the bear pull that happened around 12 hours ago. However, TRON’s price against the BTC has dropped to a great extent as shown in the hourly charts. At 4:27 PM UTC, TRON is priced at $0.0351 with a market capital of $2.311 billion. However, TRON’s prices started to fall after some time from $0.037 to the current price. Before this point, TRON was exhibiting stability against the US dollars but as of now, it looks bearish.

Catherin Hall, an Economics student at University of Chicago says:

“Investors are looking to play it carefully leading up to the testnet launch. This launch would help in removing TRON’s dependence on the Ethereum network. Justin Sun’s vision of using the cryptocurrency to decentralize the internet combined with a larger launch this year could widen its scope.”

Alex Lee, an altcoin investor from Nashville says:

“The immediate support is formed at $0.030 and TRON’s chart pattern spans 0.025 to 0.055. This means that the support is likely to hold rather than to break and a breakout in either direction could lead to a rally or selloff of the same height.”

Steve Walker, a miner from St. Louis says:

“TRX is currently under selling pressure as there is a strong sell wall formation on the exchange Bitfinix. I personally feel that this might not be a good time to sell and I think that we should wait till the coin reaches 0.091 mark. Till then it would be wise to HODL”

To conclude, 67% of TRON respondents are bearish and they feel that major developments have to be implemented for the cryptocurrency. However, 33% of TRON respondents are believers and feel that Justin Sun’s tactics will do well for the coin in the future.

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Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.


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