Home Tech Tron (TRX) could do a moonshot in Q4: Here’s why

Tron (TRX) could do a moonshot in Q4: Here’s why

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After a difficult few months for Tron (TRX), there could be some light at the end of the tunnel. There is good reason to believe that Tron (TRX) bottomed-out and could be headed for a major rally going into Q4 of 2018.  This is based on a confluence of key macro and internal factor that could lay the groundwork for a Tron moonshot in Q4.   Here are a few of them.

1 Tron (TRX) core fundamentals are getting stronger

Even in the depths of the bear market, Tron has in the last couple of months made several developments that add to the intrinsic value of this project. For instance, the acquisition of Bittorent, though it didn’t affect the price at time, gave Tron depth in the P2P market. There was also the launch of the Tron virtual machine (TVM), which meant that it was possible for developers to launch Dapps on Tron. While there hasn’t been an influx of Dapps on the Tron ecosystem, they are slowly beginning to emerge. Interesting projects like Seedit, a multiplatform payment system are now building on the Tron ecosystem.  These are developments that now give Tron (TRX) a higher intrinsic value, relative to its price in the market. Compared to last year when it was still a concept, Tron (TRX) is at a point where from a fundamentals perspective, it is highly undervalued.

As such, the chances of a further downside slide by Tron (TRX) is highly improbable, unless there is a total market collapse that pushes the entire crypto market below $100 billion. That scenario looks highly unlikely at this point, since bullish sentiment has returned to the market.  As this bullish sentiment grows stronger, it is cryptos that have a heavy mismatch between price and value that will draw in the most investments, and its already happening with Tron (TRX).

From a look at the Tron (TRX) long-term charts, there are signs that buyers are slowly outweighing the sellers, and the market is entering into a consolidation phase.  A look at the weekly chart shows that after the bears pushed Tron (TRX) to a low of $0.016 in early August, they have since lost momentum. For the last one month, the value of Tron (TRX) has been oscillating around $0.026 and a low of $0.019.

This is a major indicator that there is market consensus that Tron (TRX) is not worth much less than $0.02. Once there is enough consolidation at this level, and Tron (TRX) gains enough momentum to break above $0.025, it could mark the beginning of a long-term bull run that could see it outpace its all-time highs.

2 Social media sentiment is improving

Social media sentiment around Tron (TRX) has improved significantly in the last couple of days. It now ranks better than bitcoin and other cryptos on social media, and on Google trends as well. This supports the above analysis that Tron (TRX) could have hit the bottom.  As its fundamentals continue to gain depth in the market, investors are taking note, and money is flowing back into Tron (TRX). With improved social media sentiment, all it will take is a sustained price rise for a few weeks and FOMO buying will kick in, pushing up the price to new highs.

3 More exchange support for Tron (TRX)

Exchange support does matter for the long-term growth of a cryptocurrency. The more exchanges that support a crypto, the better its chances of attracting new investments.  The last couple of weeks have seen Tron (TRX) get listed on more exchanges.  Major exchanges like Binance and Bittrex have also introduced non-bitcoin pairings for Tron (TRX), reducing its price correlation to bitcoin (TRX). Valued on its own fundamentals, Tron (TRX) is worth way more than $0.02. Bittorent alone gives it a valuation that is way higher than that, with its millions of users. With higher accessibility and improved market sentiment, Tron (TRX) could be headed into an interesting Q4.

Source: cryptorecorder.com