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TRON [TRX], Is it now or never? – Sentiment Analysis – April 20

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All the coins look green as the cryptocurrency market is on a bull run. Bitcoin gained 0.61% in the last one hour and at 11:53 AM UTC, was seen to be trading at $8499.34. The coin had crossed the $8500 today and it peaked at an intraday high of $8522.50 at 11:29 AM UTC.

The coin was trading at the $8300 levels and it shot up to cross $8500 mark within a matter of an hour. The market capitalization of the coin also shot up from $141 billion levels to $144 billion levels at press time. The total market capitalization was also seen to have hiked at 12:03 PM UTC and was seen to be $374.100 billion.

Analysts are of the opinion that if the current market trend continues, the market capitalization would cross the $400 mark by the end of this month. Ripple [XRP] still continues to be the day’s biggest gainer with 20.71% gain during the last 24 hours.

The segment called sentiment analysis is carefully structured after interviewing a group of analysts, investors, skeptics, miners, influencers, and thereby recording their valuable comments. This group includes experts from around the world who has given their opinion on the current market trends and the possible outcomes of the coins.

These comments and opinions are recorded as it is in this segment to ensure that our readers get a comprehensive picture. This analysis is focused on TRON [TRX] which is currently at the 14th spot in the rankings according to coinmarketcap.com

TRON [TRX]

TRON was seen to have crossed the $0.05 mark for the first time since the early days of March. At 12:12 PM UTC, TRX was seen to be trading at 0.051 with a market capitalization of $3.335 billion. The coin has had a gain of 3.62% and a volume of $401 million in the last 24 hours. The coin went down to a swing low of $0.048 which is the lowest since the gain on April 19. This loss was reversed soon after that.

There is a short-term bullish trend waiting in line for the coin and if it manages to hold on to the support it may go up soon. However, in the long term picture, there is a chance for a bullish momentum to kick in or to go down. For now, according to chart interpreters, prices may look to consolidate above the $0.050 mark.

Cody McCullum, an Economics researcher from New Castle says:

“Staying above the $0.050 mark is crucial for the coin so as to reach the targets. There is support at $0.048 for the coin which was the previous low and the resistance is formed at $0.06 which should the coin’s next target. If this resistance is broken then the coin will move up to $0.76.”

Frank Welsh, an altcoin enthusiast from Colmar says:

“The immediate targets set for TRON are at $0.076 and at the $0.085. The coin punched right through two retracements and the trend is bullish. In order to rally higher the coin need to break the price projection. There is a bat formation for the coin with two possible target formations. One is at $0.051 and the next is at 0.073.”

Brendon White, a software developer from Queensland says:

“TRON was seen to be trading around $0.04 for a long time and it finally broke away from the downtrend channel. Now the coin looks steady and has a good momentum. I hope that this 0.050 level won’t be another place where TRON decides to take a nap.”

To conclude, 56% of TRON respondents feel bullish as the coin broke the resistances and has been moving up. They feel that the bulls are in favor of the coin and it will take it higher. Another 44% of TRON respondents feel that the present times won’t be bullish for TRON but in the future TRON will emerge as the winner.

 

Source: ambcrypto.com