As the bearish pressure shows no immediate signs of relenting just yet, there remains a fair bit of uncertainty across the cryptocurrency markets. Even the Tron price is going down significantly, with the hourly chart still looking very bearish at this time.
Tron Price Keeps Taking Hits
Not too many people will be surprised to see Bitcoin dipping slightly in the red over the past few hours. This dip was coming for some time now, yet it has only materialized today. This is problematic for all of the alternative markets, as they primarily rely on Bitcoin’s momentum first and foremost. Even Tron, which is often considered to be the next big thing, is under a ton of pressure right now.
All things considered, it would appear the Tron price is incapable of moving up under these circumstances. With a 5.24% loss, one TRX is now valued at $0.024711. There is also another 4.32% in TRX/BTC, as that ratio has dropped to just 469 Satoshi. As long as that particular market remains under intense pressure, it seems plausible to assume the 450 Satoshi level will be reached fairly soon.
It is only normal Tron traders are not too convinced where this market is headed next. As the market now sits below the 200 EMA, Lotus seemingly expects a bounce to materialize accordingly. In the real world, however, it would seem more likely the price will continue to tank unless Bitcoin goes through a sudden revival.
There is a rather mysterious tweet by TronTokens Official which seems to make little sense. One has to wonder if this message has anything to do with the Tron project itself or any of the dApps built on top of its blockchain. Even so, Ponzi Schemes are a nuisance and should be eradicated sooner rather than later
For those who are looking for a quick buck, exploring arbitrage opportunities is always a good option. Tron is subject to some interesting price gaps, although EXMO is not necessarily the most reliable exchange in terms of trading volume. For those who appreciate a quick 1% profit, the options below are worth checking out.
When looking at the big picture, this may not be the best Sunday for the cryptocurrency markets given the current price trends. Tron will seemingly remain under pressure and potentially drift slightly lower accordingly. No big dips are to be expected, but it seems a rebound will not occur anytime soon.