Weekly trx price analysis based on traders behaviou

Weekly trx price analysis based on traders behaviou


 

  TRX is a native coin of the tron network which was created by Justin Sun and whose transaction can take place from one tron smart contract address to another without involvement of a third party thus is considered to be a decentralized asset. TRX uses a proof of stake consensus which means that stakers can lease their tron for a given period of time to staking pool who will use the coin to secure the tron network as well as to validate transaction taking place on the tron network. On Monday the 30th of March, on tron started trading at around 0.011169. By Tuesday the same week, the price had managed to go as high as $0.011760 by slightly dropped to around   $0.011490 on Wednesday. The increase in price was due to traders behaviour which can further be explained as follows;

  Traders behaviour   TRX has a huge community due to several dapps built on its network thus making it to be easily tradeable in an upwards and downwards direction . When the tron market is moving in an upwards direction, that will be an indication that the number of traders selling it is more than the number of traders buying it. Because of this, the market will gain an upwards market direction and moves upward with few number of buyers so that it profits with them and makes many sellers make some losses. On the other hand, when the tron market is moving downwards, that will be an indication that the number of traders buying it is more than the number of traders selling it. Because of this, the tron market will resist moving upwards and start moving downwards with few number of sellers in order to profit with them and makes many buyers make some losses. Since the beginning of Monday this week, the tron market has shown a possible bullish market. This bullish market behaviour for tron can further be explained as follows;   1. Weekly tron bullish price analysis based on traders behaviour   In a bullish market, the tron will be moving in an upwards direction. On Monday the 30th March of 2020, tron started trading at around   USD: $0.011169. By Tuesday the same week, the price of tron had managed to rise all the way to around $0.011760 followed by a slightly drop to around $0.011490 on Wednesday. The increase in price to around $0.011760 on Tuesday was due to the number of traders selling it being more than the number of traders buying it thus causing the tron market to gain an upward market pressure and moves upward with few numbers of buyers. This weekly market movement for tron is being indicated as from the candlesticks chart below;   351665157-18c0351ebd5ecf48407b4d4fd4529bc24c0c677f637f6a2d1daf948bcef344f3.png   The above is the TRX market in terms of USDT. Two points are being indicated . There is point A and point B. Before point A, the tron market can be seen to moving in an upwards direction all the way to around  0.011800. This increase in price is due to traders pressure that the market will start moving downwards thus causing them to sell their tron holding so that their holding in tron do not devalue. Because of this, the number of sellers exceeds the number of tron buyers thus causing the tron market to gain an upward market pressure and moves upward to     $0.011800 with few buyers.  At $0.011800 , more number of tron traders begin to purchase tron thus causing the number of tron buyers to exceed the number of tron sellers. Because of this, the tron market resist moving upwards and reverse downwards where it shortly moves downwards to point A at around 0.011000. At point A, more tron traders start selling their tron holding thinking that the market will continue moving downwards. Because of this, the number of tron sellers again exceeds the number of tron buyers thus causing the tron market to gain an upward market pressure and moves upward with few number of buyers all the way to point B at around $0.011800. If the sellers will continue exceeding the buyers, then this upward market might continue until Monday next week where the tron market can go as high as $0.01360. This is the right time to buy a given amount of tron and waits until the market reaches 0.01360 so that you sell and increase your valuation.   Summary TRX is a native coin of the tron network which can be transfered from one smart contract address to another and whose network uses a proof of stake consensus . TRX has a huge community of members due to several dapps built on its network. This makes it to be well tradeable. When the number of trx buyers exceeds trx sellers, the market will be moving downwards while when the number of trx sellers are more than the number of trx buyers, the market will be moving upwards.TRX was able to show a bullish trend on Monday which can continue until Monday next week. This is the right time to buy TRX and hold until it reaches over $0.01360 next week.

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quintomudigo
quintomudigo

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