Tron/TRX is a native coin of the Tronix network created by Justin Sun and whose transaction takes place from one smart contract address to another. This makes it to be considered as a decentralized asset. The first smart contract address must pay a transaction fee in order for the transaction to be initiated to the second smart contract address by the validators running the network. The transaction fee is being shared to the validators who first initiate the transaction.The validators secure the network as well as validate transaction taking place on the network. This makes tronix to be considered to be using the proof of stake consensus. Tronix is also considered to be well tradeable thus many tronix traders are able to easily profit by either trading tronix in an upward or downwards direction. We can further explain the effect of tronix traders on the market as follows;
Traders behaviour
Since tronix is well tradeable,we can therefore be able to analyze its weekly price analysis based on the way traders are buying it or selling it. We can therefore say that as more traders are purchasing a given amount of Tronix compared to few traders selling it, then the tronix market will prefer to move with few traders selling. This will make it to move in a downwards direction so that it can profit with those few traders selling and make those many traders buying to make some loss in the market. On the other hand,if more traders are selling a given amount of tronix which they had previously purchased compared to few traders buying a given amount of tronix,then the tronix market will prefer to move with few traders buying so that it can profit with them and make those selling to make some loss. The whole of this week, the tronix market has been trending in a downwards direction but this can reverse in one week to to an upward direction. This can further be explained as follows;
1. Bearish tronix market based on traders behaviour
In a bearish market, the price of Tron will be moving in a downwards direction. As this week was starting(24th, February 2020), the tronix market has been moving in a downwards market direction. This may continue until the beginning of next week. This downwards movement for tronix market has been as a result of the number of traders buying it being more than the number of sellers selling it. Because of this, the tronix market experience a downwards pressure where it moves in the direction where the traders are few in order to profit from many tronix traders trading in opposite direction. If this continues, then there is possibility of the tronix market to move as low as $0.01560 in one week from now after which the market will now fully start moving upwards. As a tronix trader, this is the right time to purchase a given amount of tron with your USDT balance. You can either purchase at current market price of around $0.01660 or can wait until the market falls below $0.01600 since after that the market will gain an upward movement and will move above $0.01700. The tronix market is being indicated as from below;
The above is the tronix market in terms of USDT. Two points are being indicated. There is point A and point B. Before point A, the tronix market can be seen to have been moving in a downwards market direction all the way to $$0.01620. This has been happening since the beginning of Monday this week the 24th of February. This has been due to more number of tronix traders purchasing it as compared to few tronix traders selling a given amount of their previously purchased tron. Because of this, the price of tronix continues to move downwards thus making the tronix market to profit from those many traders buying it. The number of traders selling a given amount of tronix then exceeds the number of traders buying a given amount of tronix. Because of this, the tronix market gains an upward pressure and move with those few traders buying it in an upwards direction all the way to point A at $0.01660. This makes the tronix market to profit with few traders buying it and make those selling it to make some loss. At point A ,the number of buyers exceeded the number of sellers again thus causing the tronix market to gain a downwards pressure again where it starts moving with few traders selling their tronix coin all the way to point B at below $0.01620. This makes the tronix market to profit with those few sellers and cause many buyers to make some loss. If this continues, then there is possibility of the tronix market to go below $0.01600. As a tronix trader, this is the right time for you to purchase a given amount of tronix since in one week time, the market will fully starts an upward trend and move above $0.01700. You can either buy a given amount of tronix at current market price of around $0.01660 or can wait for it to move below $0.01600. Make sure to place your buy order with a risk management if you want to profit from this market.
Summary
On Monday, 24th of 2020, the tronix price was trading at around $0.02150. The market then started to drop downwards all the way to around $0.01620 on Wednesday Thursday and Friday respectively the same week. This decrease in price has been as a result of the number of buyers exceeding the number of sellers thus causing the tronix market to continue moving downwards with few sellers so that the market can profit from many buyers. Therefore,we can say that the buyers and sellers are determinant factors in the direction of the market thus the market normally moves in the direction where the traders are few so that it profit from those many traders moving in opposite direction.
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