Tron Price Gains 5% as Justin Sun’s First Car Giveaway Ended

March 27, 2019

With so much green across all cryptocurrency charts, it almost feels surreal when looking at individual prices at this time. A lot of traders remain unconvinced things will not remain this positive for very long, which is only normal at this time.  As far as the Tron price is concerned, there is nothing to be overly concerned about at this time. As the price surpasses $0.0234 again, the main question becomes whether or not this market can hit the 600 Satoshi level once again.

Tron Price Tries to Move up Again

It is always interesting to keep tabs on individual cryptocurrency markets when the momentum turns bullish for at least a full day. There will always be markets which impress a lot more traders than others, but the overall uptrend appears to be firmly in place as of right now. For Tron, the current price outlook pretty interesting, all things considering, although some traders would have expected a lot more momentum to materialize at this time.

Over the past 24 hours, the final tally for Tron is how the value moved up by 5.17% in USD value and 1.89% in BTC value. Both of these trends are pretty interesting to keep an eye on, as they push the Tron price to $0.023467, or 577 Satoshi. As is to be expected the TRX/BTC uptrend is a bit slower compared to the USD gains, but it may be a matter of time until that situation rectifies itself.

The big news of the week so far is how Justin Sun has confirmed the very first winner of the USDT-TRON car giveaway has been selected. Although her public information remains a bit unclear, it appears she will receive a brand new Mini Cooper. This also means the Tesla giveaway is still ongoing at this time, thus interested parties can still participate at this time. Given the high amount of fake followers Sun allegedly has, one can only hope this giveaway is genuine.

As is to be expected, most people are interested in the Tron chart for profit purposes. Justfive is still uncertain as to what will happen next for TRX, as the uptrend has not been confirmed at this time. This minor positive momentum can easily be negated, primarily because the overall trading volume doesn’t look too impressive at this time. The big question is why or how Binance would confirm the legitimacy of this uptrend, as waiting for that kind of signal is usually a point of concern.

Purple Squid Crypto, on the other hand, seems to have bought TRX without knowing how this market will evolve. It is certainly possible there will be a major uptrend in the near future, although that will primarily depend on what happens to Bitcoin in the coming days and weeks. Assuming Bitcoin remains in the green, the momentum should bode well for alternative markets such as Tron as well.

For the time being, it remains to be seen how the TRX/BTC ratio will evolve in the coming hours. Assuming this ratio doesn’t break the 600 Satoshi resistance level, there could very well be a minor dip in USD value as well. It seems unlikely Bitcoin will move too much higher in the coming days, and some traders still expect a drop to $2,500. If that latter vision were to come true, there is a chance TRX will drop below $0.02 fairly quickly.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

About The Author

Jdebunt

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.