The cryptocurrency market looks green which is a big relief after yesterday’s slight reddish signs. This gain resulted in Bitcoin [BTC] going back up and above $8000. At 1.30 PM, Bitcoin was priced at $8116 with a market capitalization of $137.370 billion. Although the coin has had a minor loss of 0.21% at the present moment in the last 24 hour statistics, the price looks steady above $8000. This loss can be reversed if the coin is able to maintain an uptrend above $8000.
Our sentiment analysis segment comprises of sentiments and expert opinions of people from around the world. These sentiments were taken after interviewing a group of investors, miners, skeptics, analysts, influencers, and their valuable comments are recorded as it is in this segment. The opinions of experts are on the current market trends and the possible outcomes of the coins. This analysis is conducted on TRON [TRX] which is currently at the 14th spot.
TRON, at 1.33 PM was priced at $0.043 with a market capitalization of $2.8 billion. The coin has had a gain of 3.67% and in the last 24 hours, it has managed to stay above $0.040 which gave it stability. The coin is currently testing the resistance levels and another bounce could break it and take it up to $0.047. The coin’s hourly chart shows that the uptrend is more likely to sustain than to reverse. The stochastic RSI has moved up from the oversold position on the four-hour chart of the coin and the MACD indicators are also about to converge. The Bollinger Bands have narrowed considerably. These indicate that the coin is more likely to consolidate above the $0.040 for some time.
Frank Stewart, an altcoin miner from Detroit says:
“The chances are that the coin will gain an upside momentum in the next few days and I feel that the price will not go down below $0.040. The trend lines indicate a bullish trend and if it holds to the support, we may see it rise to the $0.050. There is a buying pressure for TRON and a buy wall formation on the exchanges Bitfinex and Binance.”
Hugh Morris, a TRON investor from Gold Cost says:
“The targets set for TRON are $0.058 which is immediate and the next target is $0.065. The coin is right now testing the resistance at $0.045 and if this is broken we could expect the coin to go up further taking it to the target levels. The hourly charts for TRON also look good and the coin has a bullish momentum waiting in line.”
Ben Coleman, a financial advisor from Pittsburgh says:
“TRON is planning to migrate from the Ethereum network and Justin Sun has promised amount of $2 billion to the TRON community rewards program. TRON’s Main Net is going live in 43 days and after which we could expect a major change in TRON. These developments will surely help the TRON Foundation to build a strong and independent blockchain.”
To conclude, 66% of TRON respondents feel bullish because of the progress TRON’s team has done so far. They feel that the team is putting a lot of effort into its improvement and are coming up with new ways of bettering themselves. Another 34% is however bearish because of the fact that there has not been a huge change in the prices for one week.