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The stage is set for the NiTron Summit underway at the Yerba Buena Center for the Arts at 700 Howard Street, San Francisco. In this two-day event in which the guest will be none other than Kobe Bryant, entrepreneurs, investors and developers around the world with different programs will share the same platform by exchanging ideas and contacts.
To read: 2-day NiTRON Summit on Tron (TRX) in San Francisco starting today
According to Tron, the idea behind this summit is to provide better opportunities to better explore the nascent blockchain industry, while helping to drive blockchain collaboration and partnership principles. As such, the summit will also offer opportunities for developers and entrepreneurs. Other speakers will include Viktor Radchenko from Trust Wallet and Jordy Berson, COO from BitTorrent, now under Tron.
Read also: OKEx launches Tron (TRX) perpetual swap and increases leverage over those of Ethereum (ETH) and EOS
Speaking of BitTorrent, it seems that not everyone is happy with the recent change in events. Former Chief Strategy Officer Simon Morris is furious at Tron's acclamation and will closely observe how Tron, as a technology and platform, will manage BitTorrent via BTT.
According to Breaker, Morris has strong reasons to believe that Tron is a joker of marketing with a "thin blockchain veneer". Meanwhile, he claims that Justin Sun is technically inept but very good at marketing, but should learn to master the mistakes of the past.
"It is very clear that Justin is very good at marketing, he has a very nice personality from a marketing point of view, but he does not have a technical bone in his body, Justin would not technically understand anything."
TRX / USD price analysis
Despite the blows, TRX will benefit from BTT and until now, the currency has increased by 2.4% in the last day and by 85% in the last month, which means that the currency is a top performer in the top 10. If it is maintained, we wait for the gap between the ninth and the eighth to be reduced and even lowered. In the short term, this BTT-induced demand could help drive TRX prices up to 4 cents as price synchronization with our latest TRX / USD trading conditions.
Trend and candlestick formation: bullish, bull break
TRX is literally outperforming other assets and we expect more news in the ongoing NiTron summit. Due to the January 7-8 break and closing above the 2018 highs at 2.5 cents, TRX is trading against the USD in a bull breakout model with corresponding trade volumes.
Moreover, the fact that the bars of January 10th did not reverse Jan 7-8 gains hints of demand in shorter periods of time and that is why we suggest both groups of traders to buy on jumps while starting the commercial positions as established in the our previous exchange plans.
Volumes: bullish, rising
Ideally, we would like to increase transaction volumes to 4 cents above 10 January by 95 million against 26 million. But there are developments especially from the point of view of the effort with respect to the result. Note that apart from the bar of January 14 – 50 million against 35 million, the last four volumes are lower than the average – less than the average trending of 35 million.
Therefore, it would be safe to start trading once the prices stood above the January 14 highs of 2.6 cents. However, it is a model of breakout and the purchase on dips with a safety net at January 14 low of 2.1 cents should be safe.
All graphics courtesy of Trading View.
This is not an investment tip. Do your research