Tron (TRX) Price Analysis: A Lunch With The Billionaire Investor Provided 14% gain for CEO Justin Sun

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • A successful charity dinner with billionaire investor Mr. Warren Buffet helped TRX to build a bullish momentum and the overall gain of 14%.
  • The lunch resulted in investors pouring around $185 million into the market.

Finally, Tron(TRX) founder and CEO Justin Sun banqueted with the billionaire investor Warren Buffet after rescheduling the lunch for medical reasons in July 2019.

TRX
Source: Tradingview

We can say that to have lunch with the Warren Buffet, you need to have millions in your wallet. The opportunity caused Justin Sun to pay $4.57 million by winning a Warren Buffet’s annual charity auction.

The effect of this lunch can easily be seen in charts of Tron as the price, market capitalization, and volume traded boosted up. According to Coin360, the market capitalization is around $1,506,748,743 and the 24H volume traded is $596,521,259. TRX is currently trading at a price of around $0.022587.

However, Mr. Buffet seemed unconvinced and felt that bitcoin still needs a lot of work to capture the value of blockchain.

Technical Aspects 

The RSI is around 70 levels and indicates that TRX can further capitalize on this bullish movement. The CCI saw a negative divergence from the overbought zone which favors the bulls

Resistance Level: $0.030

Support level: $0.018

 

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