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Tron Ends The Week With A 23% Price Spike

21 december 2018, 17:45 by John Kiguru

Tron Ends The Week With A 23% Price Spike

For the first time in a long time, the market has ended the week on a high. After a spike was triggered on Wednesday, and the market surged, the move has been persistent and has seen nearly all coins on the market record gains. The total market cap is ending the week above $134 billion, a position being boosted by Bitcoin- which has an over 50% dominance on the market, position being above the $4,000 mark.

Although today a couple of coins have slowed down, some remain relentless. One as such is Tron which has soared by over 23% in the last 24 hours, seeing prices top $0.021. In the top ten cryptocurrencies, only Bitcoin Cash comes close to this performance as it enjoys a 15% price surge. Most major coins are today up by 2% to 15%.

Tron’s outstanding performance will see the coin solidify its position after recently breaching the top ten rank, a position that Justin Sun promised to Tron enthusiasts a couple of months ago. To ensure a more permanent stay, Tron will need to pull away from Cardano- which is ranked eleventh, that follows it closely only coming short of $200 million in its market cap.

Tron ending the week on a high will hugely play in its favor as the weekend tend to be unpredictable. The surge ensures that the coin establishes a higher support level and should prices correct, its price will not drag low.

For the next couple of hours, the coin will be looking for a position above the $0.025 position, a key resistance level that could launch it to $0.030.

As for the wider market, the crypto community is hoping that coins can hang on to the recent earnings and end the year on a positive.

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