As all major cryptocurrencies go in the red, there isn’t much to be excited about at this stage. Things simply do not look great, and it seems things will not improve for the foreseeable future. The TRX altcoin is feeling the effect of this current trend, as its value is on the verge of dropping below $0.022 again.
TRON Price Struggle Continues
Earlier this week, it became apparent the TRON price momentum was not looking too great. Considering how that dip occurred prior to Bitcoin’s value even going down, there was a solid indicator this downtrend would get ugly fairly quickly. If the current trend is any indication, TRON’s price will continue to go down for quite some time.
Good news hardly ever warrants a sustainable uptrend in the cryptocurrency industry. For TRON, that has become a lot more apparent once again. This does not mean things will remain this bad by any means, as there are still plenty of interesting developments taking place behind the scenes. For now, however, the onslaught will need to be endured first and foremost.
When looking at the bigger picture, however, things are not looking all that bad for TRON. According to TronSpark, the TRON price still notes a healthy 18% increase over the past 30 days. This was posted when the price dip was not even near the 12% level, this it seems safe to assume there is still a healthy increase over the past 30 days to take into account. That in itself is pretty promising for this altcoin.
https://twitter.com/TronSpark/status/1050310047077675008
Another interesting statistic posted by Tronspark shows how the TRX volume is not doing all that bad either. A notable increase has been noted over the past 30 days, further confirming one has to look at TRON from many different angles first and foremost. A rising volume combined with a price rise over the past 30 days indicate TRON is still in a pretty good place.
The volume #TRX increased by 61.450% in last 30 days.
#tron #TRX $TRX #tronspark @tronfoundation https://t.co/0worykRWHO pic.twitter.com/2ZBdDin6nW
— TronSpark (@TronSpark) October 11, 2018
Last but not least, it seems the TRON Virtual Machine will be coming to the main net later today. That in itself is always a promising development, primarily because it can elevate TRON to a whole new level in the future. It is also another sign of how TRON continues to grow and mature as a project, which further indicates the project is here to stay for the long run first and foremost.
Today is the BIG DAY! #TVM will be active!
The new era begins! #DApps era 😍#TRON #TRX@Tronfoundation @justinsuntron— CryptoGirls (@girls_crypto) October 11, 2018
Based on the current market conditions, it is very difficult to predict when the TRON price momentum will turn around again. There is a very steep decline to be overcome, and the weekend is just around the corner. The overall TRX trading volume is still looking healthy at $173.17m, as most of the trading comes from Binance and Bit-Z at this stage.
Image(s): Shutterstock.com
