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TRON price analysis 23 July 2019; TRON down 10% after Buffet lunch canceled

TRON price analysis 27 May 2019

Doing the TRON price analysis seems to be the easiest out of all the altcoins as TRX seems to actually have a reason for falling so much in the last 24 hours besides the overall market sentiment.

On the 22nd of July, Justin Sun, the CEO of TRON Foundation tweeted that he was recovering in a hospital due to kidney stones and had to postpone the anticipated lunch with billionaire Warren Buffet.

The tweet immediately caused the TRX price to start its way downwards starting from $0.028 all the way down to $0.022 at press time.

TRON price analysis

TRON chart by Trading View

Besides the tweet, the market has been landing hit after hit on TRX as well as the coin had already fallen from the $0.03 grace before the tweet. The postponement of the lunch was just salt on the wound.

But much like any other coin, TRON is poised to continue falling, even if the recent 10% shred was due to panic. TRX will most likely not correct even a little bit until Sun tells us when the lunch will happen for sure.

Despite such downfall though, TRX has surprisingly managed to retain the 10th position on the market, which was Sun’s goal ever since January 2019.

As of right now in order to finish our TRON price analysis on a positive note, it’s safe to say that everybody is hoping for Sun’s quick recovery and the re-ignition of the Buffet hype.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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