Toron, a new cryptocurrency, made a new all time high of $0.739 on January 2, 2018. Investors are bullish on the money and many expect the price to reach $1. In this blog post we will discuss the fundamentals and analyze the price action to work out how likely that is. We will use a high probability set up that only works out to predict trend continuation and not trend reversal.
The cryptocurrency market has been on a wild ride lately. After a multi-year bear market, its recent rise has been more than welcome. As the market cap of the entire crypto market has gone from $200 billion in December 2017 to nearly $300 billion today, the price of all major coins has moved upwards, with the top ten coins by market cap posting gains of more than 15% on the week.
Tron is recovering from last week’s decline and is targeting $0.17 again after breaking through $0.14 over the weekend.
The overall crypto currency market is trending positively, with all major cryptocurrencies trading in the green. Ethereum continues to lead the way, hitting a new all-time high above $4,100.
Tron’s TRX coin is also up more than 3% in the past 24 hours, crossing the $0.14 mark. With a continued rally in the broad crypto-currency market, TRX could try to climb back into the $0.17 area. The analysis on Tron is currently positive, as a number of experts believe that the price will continue to rise.
Giga candle available soon pic.twitter.com/neeF6sfX0d
– muro – won’t DM you (@MuroCrypto) May 5, 2021
TRX Price Forecast
TRX’s rally is fueled by the performance of the broader crypto-currency market. The 4-hour chart of TRX/USD shows that the domestic cryptocurrency Tron reached an important support level around $0.137 over the weekend. As a result, it is up almost 4% in the last 24 hours.
If the current trend holds and the market performs well overall, the TRX/USD could be heading for the next resistance at $0.158. A longer rally could see Tron reach its weekly high of $0.17 in the coming hours or days.
TRX/USD 4 hour chart. Source: Coincide
The Tron MACD line has been in bullish territory for a few days now, and it would not be surprising to see the bulls strengthen. It is trading well above its 100-day simple moving average and its 14-day RSI is currently above 55. Thus, all signs point to a strengthening TRX and the cryptocurrency could see good results in the coming hours or days.
But because cryptocurrency prices are volatile, TRX can also move in the negative. In case of a sell-off, the bulls will defend the $0.137 support zone. In the absence of a sustained sell-off, the bulls should be able to comfortably defend key support at $0.11.
This source has been very much helpful in doing our research. Read more about tron (trx news) and let us know what you think.
Frequently Asked Questions
Will Tron TRX reach $1?
Tron has been around for a while and has not been getting as much attention as some other altcoins. The reason for this is the fact that it is not as easy to get into the Tron community as some other coins. This does not mean that Tron is not performing well, it is actually doing quite well. Tron had an all time high of 0.24$ per coin, but has recently fallen down to 0.02$. It has been a very long time since the last time TRX was this low, which means that there is a lot of room for growth. If we look at this from a long-term perspective TRX should reach a value of one dollar per coin in the next 5 years. ~~ So you’re wondering, will Tron TRX reach $1? It’s a great question. There’s a lot to like about the coin. But there’s a lot to dislike as well. That makes its future price really hard to predict. Here are some of the pros and cons you should be aware of.
What will tron be worth in 5 years?
Tron is a cryptocurrency that has been the subject of much discussion recently. But what is Tron? And more importantly, what will it be worth in five years? Many believe that the price of Tron will be over $3 by the end of the year. Many others are skeptical, claiming the whole thing is just a scam. If it is a scam, it’s still making its founder rich, so it’s unlikely to go away any time soon, but we don’t see it becoming mainstream any time soon – at least not until the Tron price prediction 2030. The blog post would then include a discussion of the pros and cons of tron, why it will succeed or fail, and provide an It’s one of the most talked-about coins of 2018, and it’s not even out yet: Tron (TRX). The coin is supposed to launch in the third quarter of this year, and the total supply is supposed to be 100 billion. It’s very different from other cryptocurrencies in one important regard: it’s not just digital currency, it’s meant to be used on the web. It plans to create a free and open content platform where users can publish whatever they want, without the need for middlemen.
Will Tron ever reach 100?
The Tron foundation has big plans for the future. It envisions a content-sharing platform that will be used daily by millions of people. In fact, it aims to make the entire web decentralized, so that user data can’t be exploited by companies like Facebook and Google. But with the Tron price down around 77% since the start of the year, some skeptics are questioning whether the Tronix will ever reach 100. Tron, the eleventh-largest cryptocurrency by market cap, has been on a downward spiral since it topped out at $0.23 in January. The price has been cut in half since then, and the TRX token recently hit a 2-month low of $0.05. The good news is that this price is still 100 times higher than what it was at the end of December. There are also plenty of reasons to think that Tron could be set up for a rebound, especially given that it is a relatively new project and has a lot of room for growth given that it is just now starting to make serious inroads into the entertainment industry.