As the weekend dawns upon the cryptocurrency industry, most of the markets have taken a turn for the worse. This momentum happens rather regularly, so no one should be too surprised. What is remarkable is how the TRON price tries to defy the bearish trend, even though that uphill battle won’t be easy.
TRON Price Tries to Stay Afloat
When Bitcoin loses value, the alternative markets often tend to follow a very similar pattern. Today is no exception in this regard, yet TRON appears more than willing to put up a good fight. While some traders hope to see altcoin season kick off very soon, there is still no indication that such a development will take place in 2019.
As far as the TRON price action is concerned, there may be something to look forward to this weekend. It is the only currency in the top 15 to note any major gains despite the overall bearish momentum. Albeit a 2.67% gain might not seem like much, TRX is outperforming all of its competitors at this time.
It has not been an easy month for TRON, as the altcoin lost over 26% of its value. These small gains are a sign that the momentum may be shifting once again. With the TRON price ranging between $0.013966 and $0.014539, there is a chance a push to $0.015 can materialize without too much resistance.
That will primarily depend on the TRX trading volume. With nearly $300m in trades over a 24-hour span, the demand to buy and sell TRX is certainly present. The Turkish crypto enthusiasts at Sistemkoin generate most of the trading volume. Three USDT pairs – on Latoken, Binance, and Coinbene – also bring in decent volume, as well as Exrates’ TRX/USD pair.
Despite this seemingly promising TRON price momentum, there are still plenty of people who dislike the project. Clint James still considers it a”shitcoin” simply because it is above Chainlink in the market cap rankings. A very strong and negative sentiment, albeit such opinions are not uncommon in the cryptocurrency industry.
— D Divs (@DDivs3) December 14, 2019
In positive news, it would appear that the Play Royal platform has received some updates.It is one of the many platforms that allows TRX holders to play games in the form of a gambling offering. A lot of quality of life improvements have been provided in the recent updated, as well as the introduction of daily tasks and bonuses.