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Price Analysis

Tron Price Analysis: Tron’ Struggle to Get Above From $0.033 Continues

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  • Tron (TRX) is likely to find resistance near 0.034 USD.
  • The medium-term bullish target remains at 0.06 USD.

Tron (TRX) has been able to attract much attention from the market as it showed a brief period of bullish growth. However, the coin’s value now seems to have stagnated. There is no major gain in the price of Tron in the last few days. As far as the last 24 hours are concerned, the coin has chosen a straight pace barring few exceptions. The lowest value it touched was around the starting point of yesterday at 0.0328 USD. However, the Tron coin managed to get good growth gradually in the next 8 hours and reached 0.03379 USD. The next variation happened at around 12:30 UTC when the coin fell to 0.03299 USD. However, since then the coin has managed to grow gradually till now. Though there has not been any good growth in the recent past, the medium-term outlook of Tron is bullish. The year’s end may see the value near 0.06 USD. Let us analyze the current details of the coin from Tron chart.

Tron Price Statistics-

Tron Price Chart -20 June
Tron to USD Price Chart

TRX Chart by Trading View

Tron (TRX)20th June 01:49 UTC
Rank12th
ROI (Return on Investment)1,526.11%
Coin Circulation66,682,072,191 TRX
Market Cap2,243,481,017 USD
Value in USD0.03332956 USD
Value in BTC0.00000367 BTC
24h Volume507,199,809 USD

TRX to USD Price Comparison-

As exhibited in the chart, Tron had some initial rough days in 2019, where no major growth was noticed. Between 27th January and 08th April, the growth degree was minuscule, but the variations in this period were huge. The lowest point of Tron in this period was 0.02255096 USD. However, the end of March saw some hike in the price. There was a growth of 35.12% over 14 days. But the coin again fell by 22.74% over the next 31 days. Another triangle trap can be noticed at the end of May. On 22nd May the coin managed to gain strength, and it got hiked by 43.02%in 11 days to fall again in the next 7 days by 21.34%. The market cap on 20th May was 1,896,197,888 USD, and the value of each coin was 0.02794041 USD. The current market cap and the value of each coin are respectively 18.31% and 19.28% more than the values of the last month.

Tron Price Prediction-

The medium-term outlook is bullish for Tron. The year’s end may see the value near 0.06 USD.

The next resistance points may be around 0.033661667 USD, 0.034014333 USD, and 0.034368667 USD. And the support level remains at 0.032954667 USD, 0.032600333 USD and 0.032247667 USD.

Conclusion-

The coin is now performing stably, so it is a good time for buying new coins. In the medium-term and long-term, the investment is likely to give good dividends.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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