Home Tech Tron (TRX) Price Analysis: Down by 20% But Strong Growth Incoming!

Tron (TRX) Price Analysis: Down by 20% But Strong Growth Incoming!


One of the most talked about cryptocurrencies of recent times, Tron (TRX) has managed to impress a large number of users in a relatively short time. The technology that powers Tron intends to develop a blockchain based system for of a free global entertainment system. Tron prices, however, have faced numerous ups and downs. As of this writing, Tron is the 15th largest cryptocurrency, with a market cap of $2.77 Billion and a price of $0.043.

Tron, which began the day at a price of $0.051 has fallen by almost 20% to reach the $0.043 mark now. Despite the fall in the prices, those investing in TRX seem to be quite upbeat as a major spike in the prices is expected. Over the past 24 hours, Tron’s market cap too dropped from $3.5 Billion to $2.7 Billion.

While the past 24 hours had a number of ups and downs, the past week was even more unstable. Tron (TRX) began the week at a price of $0.045 and hit a low of $0.025 in the middle of the week. The currency has since managed to bounce back and reached a high of $0.051 earlier today. However, it has since slid another 20% from there to now reach $0.043.

The graph above indicates the movement of Tron (TRX) prices over the next few days. The currency is expected to take a dip (which it has) and then bounce to a new high. The currency is expected to take a jump of another 40-50% and reach $0.055 over the next few days, which is indicated by the graph. This is a short-run jump where the prices will spike by a small amount.

Those investing into Tron (TRX) must keep in mind that they should set up multiple targets and stop-losses to ensure that the trading is going smooth and they are not making a loss. Trade carefully!

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