TRON
TRX’s price has pumped by 0.57% in the last 24 hours.1) TRX could hit $0.088 in 2023
2) TRON’s price prediction for the most bearish scenario will value TRX at $0.057 in 2023
3) TRON’s previous All Time High was on 5th January 2018 where TRX was priced at $0.23
4) To simplify the latest TRX price prediction, we have divided up the prediction by short term TRON price prediction and long term TRON price prediction.
5) TRX had a trading volume of $288,753,858. TRON has gone up by 3.94% in the past 30 days.
6) According to our analysis in the short term, TRON price prediction for August 2023 shows the average price of TRX at $0.068 and the highest possible price for August 2023 would be $0.072.
7) Further, according to our analysis in the long term, TRON price prediction for December 2023 shows the average price of TRX at $0.073 and the highest possible price for December 2023 would be $0.078.
TRX been doin good!This analysis is for those who are looking for some good investments in the crypto market. As we can see many meme coins getting pumped and dumped within a few hours, due to which, the beginners loose a lot of money. So, if you're one of those people, or you got some losses from the crypto market, Tron (TRX) is one of the coins which might give good returns on investment.
Tron has two main functions, it is a global content sharing platform and it allows the users to make their own automated applications. It is basically an NFT.
According to price data provider CoinMarketCap, Tron’s price reached an all-time high of $0.22 in January 2018 amid a crypto-wide bull run. For most of 2018 and 2019, Tron’s price hovered between $0.01 and $0.04. Tron’s price hit a fresh peak of $0.16 in April 2021, rising with the rest of the market as bitcoin broke $64,000 for the first time.
It borrows some of its technology from Ethereum too, the Tron Virtual Machine which is similar to Ethereum's Virtual Machine. YouTube is a major competitor of Tron, but Tron is built more with decentralized file sharing in mind.
According to some news sources, Tron is being burnt more than that of its net production daily, this is a positive news for Tron. The Total supply of TRX is around 100B, out of which 71B is currently circulating.
Now, if I come to the technical analysis, TRX is currently at a major supple zone. It tested the same level many times in the past few days. Now, today, even when the Bitcoin was falling, along with all the other altcoins, Tron was still showing some results on the positive side. Now it is near the golden zone of the bearish Fibonacci Retracement, which I made during the Bearish markets of June. If it breaks the Golden Zone perfectly, it will be officially in a massive bull run again.
It got retraced from the golden zone of bullish Fibonacci retracement too. Now, it might go for a new high at the -0.382 level of the same Fibonacci Retracement.