Mr Sun: Tron (TRX)
This project is delivered with a strong and fairly controversial leader in Justin Sun. In my opinion much of this progress is based on hype and community engagement. I feel this just because Mr Sun paid many millions just to have lunch with Warren Buffet and when he delayed this due to illness the currency's value dropped fairly heavily.
I highlight this because a project with strong foundations shouldn't be so strongly negativity affected by a lunch meeting that was delayed due to illness. Yet there are positives, such as the Mainnet taking place on the 10th August this year which will continue to raise the price, but we have seen recently that coins gaining momentum in the run up to the main net have dumped just before as whales see the hype and not the actual project as something with intrinsic value.
Currently, looking at TRXBTC its in a slight predicament like many altcoins, looking at the chart on the weekly I see S1 as a important level. If this is broken there is basically free fall till the ICO price level, so I would say if S1 doesn't hold it may not be worth holding this anymore just coz its completely unpredictable below this level.
I highlight this because a project with strong foundations shouldn't be so strongly negativity affected by a lunch meeting that was delayed due to illness. Yet there are positives, such as the Mainnet taking place on the 10th August this year which will continue to raise the price, but we have seen recently that coins gaining momentum in the run up to the main net have dumped just before as whales see the hype and not the actual project as something with intrinsic value.
Currently, looking at TRXBTC its in a slight predicament like many altcoins, looking at the chart on the weekly I see S1 as a important level. If this is broken there is basically free fall till the ICO price level, so I would say if S1 doesn't hold it may not be worth holding this anymore just coz its completely unpredictable below this level.
Yet because of the influence of the dynamic leader of this coin I don't see it falling below just coz it will damage him pretty heavy. If the 269 region is reclaimed the coins growth could flourish with speculators seeing opportunity.
But this is all my opinion and could be wrong so be careful.
Peace.
TradingView, 2019.
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