Tron has been going through a number of ups and downs over the past few weeks. The TRX cryptocurrency token, which is currently priced in at $0.041 is a popular trading and investment option for millions of users. For those looking forward to invest into TRX, this is perhaps the best time to do so as the price is low and a growth is in sight! Let us take a detailed look –
Tron, which began the day at $0.40 has managed to gain only $0.01 after 24 hours. However, the highest point of the day came when Tron touched $0.047. The currency is on a slow and steady path to a long-term growth. The currency’s market cap currently stands in at $2.7 Billion. Tron is ranked #14 when it comes to top cryptocurrencies by market cap.
The past week has been full of ups and downs for Tron prices as TRX started the week at $0.068 and eventually tumbled down to a low of 0.031. It has since recovered by $0.010 over the past few days. However, while it seems to be a slow growing currency at the moment, TRX is expected to soon enter a growth rally. Take a look at the graph below for a detailed understanding.
Technical analysis of Tron (TRX) | Image: tradingview
The $0.04 mark has now become a line of support for Tron and the currency is expected to continue its growth from here on. Tron is expected to grow by another 150% over the next few days as it reaches the $0.1 mark. Market analysts at tradingview expect that this process of growth will take as many as 2 weeks to complete.
If this analysis is to be believed, it means that the current price of $0.04 is indeed a good time to buy Tron and huge returns are in sight. However, it is always advised to set up stop-losses. It is advised to set up a stop-loss of $0.03 and a target of $0.094.
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