Price Analysis

TRON Price Analysis: Is Tron (TRX) all set to surge above 4 cents

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Speaking of the trading range, TRX has reached the above line of the first quarter, which must excite the investors but eventually it is other way round. Even after surging Bitcoin with approximately 19%, investors as still not able to trust Justin Sun, Founder and CEO of Tron Foundation.

Investors have seen this pattern in the past, and they are not quite sure if TRX can really deliver a good figure by 1st June or not. After the mess created with Liverpool and Baidu, it is hard to predict their next move. There is a hope that TRX might surge above 4 cents. Only then it will be considered as the announcement which is exciting and huge.

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Price Analysis of Tron on May 29th, 2019

Tron price chart

The value of TRX is trading at $0.032600 at 5:12 UTC on May 29th. The Return On Investment is still quite impressive for the investors touching approximately 1500%, ranking TRX at number 11 in the market. The market cap value of TRX at 5:12 UTC is 2,177,996,836 USD along with 1,069,486,906 USD as 24 hour volume respectively.

Comparison:

Tron Price chart

The CEO might be shouting and tweeting some exciting news for June 1st, but investors, however, are already aware of his wicked strategy now. The mystery announcement for the 1st June might have escalated the market to 10%, but eventually, the drop can be seen in today’s fluctuations.

The coin was traded at a value $0.036054 yesterday but dropped to 9.6% already. If you keep reading about Tron, you must be aware of the fact that investors are diligently interested in capitalizing towards TRX, but the CEO, Sun, himself often play the volatility.

This chart shows that Tron might be a good coin if you wish to invest on a short-term basis.

Tron price chart

Considering long term investment plan, traders must keep a keen look at the year’s chart. The inking since the beginning of the year is carved in red only. 30th April 2018 was still a day when traders celebrated their profits with the value of TRX touching $0.09298, which is dropped to 64% as on May 29th, 2019! So long term investment might not bring a green inking in your account.

Predictions and conclusion

In case you want to follow each second of Tron, it is likely suggested to follow the CEO on twitter as he is the fastest and quickest source of updated on TRX. The eyes are on Justin Sun right now for revealing the big news in June. Considering if the news reveals a new partnership with an exchange, the bullish nature will be realized on the charts bringing the value close to $0.04.

Considering his announcements in the past, he did quote that TRX will join the race among top 10 coins, and well, it did! So it all depends on traders whether they will gamble in favor of the news declared by Justin or against him. In any case, the market will certainly analyze a shift in the price.

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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