Price Analysis

Tron Price Analysis: Tron Wins In the Poll of Celsius Network; Medium-term Is Moderately Bullish

  • Tron (TRX) wins in the poll conducted by Celsius Network.
  • The bullish medium-term places the coin at 0.06 USD target.

After the controversy of a lunch date with Warren Buffet and alleged misleading tweet to anticipate something bigger, Tron (TRX) has been playing aggressively to revive its image. After a brief poll by Celsius Network, Tron (TRX) wins in the poll. Around 54% of the participants chose Tron (TRX) over Tezos. A Tron proponent tweeted, “#TRON overwhelmingly won the poll and garnered 54% of the final vote cast by more than 2,200 people as @CelsiusNetwork asked which new coin to support.” This winning will definitely be a positive point for Tron (TRX) for reaching out to a larger number of potential investors. The medium-term outlook is likely to be bullish for this coin. By the end of 2019, the coin may roam around 0.06 USD. We should now analyze the current details of the coin.

Tron Price Statistics-

Tron Price Chart - 8 June

Tron (TRX)08th June 07:52 UTC
Rank11th
ROI (Return on Investment)1,519.27%
Coin Circulation66,682,072,191 TRX
Market Cap2,203,891,558 USD
Value in USD0.03276934 USD
Value in BTC0.00000415 BTC
24h Volume736,373,527 USD

Tron Price Comparison-

Tron (TRX) started the year with a very moderate price level at 0.02009135 USD, and it is the lowest point for the coin this year. By 21st March the coin started showing strength and hiked by 37.01% over 18 days from the price mark of 0.02247 USD. Another huge growth can be noticed on 22nd May when the coin gained 44.13% over 11 days. The market cap on 08th May was 1,646,639,164 USD, and the value of each coin was 0.02475738 USD. The current market cap and the value of each coin are respectively 33.84% and 32.36% more than the figures for last month.

Tron Price Prediction-

As mentioned earlier, we predict a near bullish future for the coin. The resistance points will be there around 0.04 USD and 0.045 USD. By the end of 2019, the coin may reach 0.06 USD. But the investors need to be cautious about the anticipated steep ups and downs in the price.

Conclusion-

As the predicted growth is not very huge, making a fresh investment will have an opportunity cost. Existing holders need to hold to their investment tight to gain the maximum.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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