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Tron (TRX) price goes down, while Dash has some good news
Tron (TRX) price goes down, while Dash has some good news
Trading

Tron (TRX) price goes down, while Dash has some good news

By Federico Izzi - 12 Feb 2019

Chevron down

Today’s news sees Tron (TRX) among the cryptocurrencies to keep an eye on, the price has obviously stopped performing, probably due to the fact that the red sign prevails for 60% of cryptocurrencies this morning.

tron trx price news
Tron chart, source: https://it.tradingview.com/symbols/TRXUSD/

With a drop of over 4%, it is clear that many buyers who in recent weeks had supported the Tron price rally (+200% since the beginning of the year), have waited for the airdrop of BitTorrent tokens (BTT) to start taking some profits.

Another bad performance is that of Litecoin (LTC) which, after having doubled its prices from the lows of mid-December and revised the levels of last November, tries to form a consolidation base above $40. The top step on the podium of the best performances is occupied by Dash: the crypto scored a rise of more than 5% from yesterday morning’s prices.

tron trx price news

Guaranteeing privacy and total anonymity, Dash and Monero (XMR) are the cryptocurrencies most traded for bitcoin and used by Venezuelans for the purchase and sale of basic necessities.

In fact, there continues to be an increase in wallet downloads for using Dash and Monero by Venezuelan citizens.

Total capitalisation remains anchored at 120 billion dollars. Trading volumes are falling again, but they still manage to keep well above the lows recorded last week. Bitcoin, after losing one percentage point of dominance during the rise last weekend, tries to stabilise between 52 and 53%.

The weakness of the last few days has seen Ripple give way the second position in the ranking in favour of Ethereum. Only $200 million separates the two contenders.

tron trx price news
Bitcoin chart, source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

The $3800 test confirmed the importance of this resistance. Just as the $3500 was a tough bulwark for bears, the $3800 is an area that will crown the recent price pullback.

In the next few hours, it will be important to consolidate the prices above 3500-3600 dollars, necessary to accumulate strength and try a more decisive attack on the next resistance at 4200 dollars.

tron trx price news
Ethereum chart, source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

Without being in the spotlight, Ethereum proceeds to consolidate the recent rise above 120 dollars. Before the bearish drop at the beginning of February, the $120 area had proved to be a level of conflict between bears and bulls, now returning to be a crucial point for the fate of the next few weeks. In fact, the Constantinople hard fork, scheduled for the end of February, is approaching.

A good optimistic signal will come from the recovery of $135 before the protocol update.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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