Tron is a native coin of tron network and is being abbreviated as TRX whose transaction takes place from one tron smart contract address to another without involvement of a third party. This makes it to be considered as a decentralized asset. Tron was created by JUstin Sun who wanted creators to be able to monetize their data on the tron network in form of tron coin. Tron uses a delegated proof of stake consensus thus the validators are the one who secure the tron network as well as validate transaction taking place on the tron network thus in return they receive reward in form of tron coin. Towards the beginning of this week(Monday the 9th of March), one tron was trading at around $0.01403. The price rises all the way to around $0.01536 on Tuesday which later dropped to around $0.01412 on Wednesday. On Thursday, the price again rises to $0.014956 but later crushed downwards to below its starting price on Monday. The downwards crash went as low as $0.00951. The upwards and downwards movement of tron has been due to traders behaviour in the market. This traders behaviour in the market can further be explained as follows;
Traders behaviour
Tron network has a huge community. This makes its native coin TRX to have a high liquidity providers thus making it to be well tradeable in both upwards and in downwards direction. Therefore, we can say that when the number of traders buying a given amount of tron are more than the number of sellers, the tron market will prefer to move downwards with few sellers so that it can make profit with them and makes many buyers make some losses. On the other hand, when the number of sellers are more than the number of buyers, the tron coin will prefer to move upwards with few buyers so that it can profit with them and makes many sellers to make some losses. Since the market for tron since the beginning of Monday had shown a possible uptrend, we can further explain the weekly bullish market for tron as follows;
1. Bearish tron price analysis based on traders behaviour
In a bearish market, the tron market will be moving in a downwards direction. On Monday the 9th of March 2020, the tron market started trading at around $0.01403 . The price rises all the way to around $0.01536 on Tuesday followed by a drop to $0.01412 on Wednesday. The market rises again to $0.014956 on Thursday but later crushed downwards again to $0.00951. The downwards market crush all the way to around $0.00951 on Thursday was due to the number of buyers being more than the number of sellers. This makes the tron market to resist moving upwards but instead reversed and gains a downward market pressure where it moves downwards with few number of sellers so that it can profit with them and makes many buyers to make some losses. Here is a price analysis chart for tron based on traders behaviour;
The above is the tron market in terms of USDT. Two points are being indicated . There is point A and point B. Before point A, the TRX market in terms of USDT can be seen to have been moving in a downwards direction all the way to around $0.00951 having been moving upwards from Monday to Wednesday. This downwards movement on Thursday has been due to the number of buyers exceeding the number of sellers . Because of this, the tron market resists an upward movement and reverse downwards where it crushes to $0.00951 as mentioned above. The number of sellers then exceeds the number of buyers thus causing the tron market to gain support and starts moving upwards all the way to point A at $0.01100. At point A, the number of buyers again exceeds the number of sellers thus causing the TRX market to resist moving upwards and instead reversed to downwards movement all the way to point B at around $0.01063. I think the market has already finished its downwards movement and it is time for it to start moving upwards since TRX traders holding their TRX are less than those buying because of the fear of continuing to loss the value of their account. This is the right time for you to buy your TRX and hold it until next week on Friday since the market will rise again to around $0.01400. You can either buy at current market price of around $0.01063 or can wait for it to go below $0.00951 again and buy.
Summary
Tron is a native coin of the Tron network used by developers of different dapps on the Tron network to pay for transaction cost of their dapps as well as to swap their tokens to Tron. As this week was beginning(Monday the 9th March of 3020), one Tron was going for around $0.014030. By Thursday the same week, the price had managed to go as low as $0.00951. This decrease in price has been as a result of the number of buyers exceeding the number of Tron sellers thus causing the Tron market crush downwards with few sellers so that it profits with them and makes many number of buyers who were holding it to make some losses. Therefore, we can say that when the number of Tron buyers exceeds the number of Tron sellers, then the Tron market will be moving downwards with few number of sellers so that it can make profit with them and makes many number of buyers make some losses. On the other hand, we can say that when the number of sellers are more than the number of Tron buyers, the Tron market will be moving upwards with few Tron buyers so that it can profit with them and makes many Tron sellers make some losses. After this downwards market crush, i think the number of buyers who were holding TRON have started to sell it because they fear the market might further crush thus causing their TRON holding to decline in value. Because of this, the tron market has now gained an upward support and this might continue until next week on Friday. You can either buy at current market price of around $0.01060 or can wait for it to go to around $0.00951 and buy at that price since there is huge opportunity now in the market
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