Price Analysis

Tron Price Analysis: Tron (TRX) Induces Recovery In The Intraday Price Change; Future Prospects Look Good

  • Tron (TRX) comes out of the heavy drop.
  • The coin marks recovery with an intraday movement.

Tron (TRX) price is currently seen surging in the market. The coin has embarked on recovery after a long wait. The loyalists were eagerly waiting for the coin to come out of the price drop. There were high expectations from the coin to surge in the ongoing month. Well, it seems like the coin has already taken a direction to hold true to the expectations.

Let’s have a look at the price chart of Tron.

TRX/USD Price Analysis:

The below chart is a data feed from Trading View as on 8th August at 6:21 UTC.

Tron Price Prediction
Tron Price Chart by TradingView

The chart is reflecting a downtrend to a major extent and on the contrary only a slight recovery in the coin.

According to the above 3-day chart, the coin started trading around $0.0227 as on 6th August. Tron immediately fell to $0.0223 from $0.0227 by 2.11%. Later, the coin escalated from $.0.0223 to $0.0229 by 2.68%. On the same day, it marked two other downtrends. First, the coin slipped from $0.0227 to $0.0221 by 2.86%. Second, the coin again slipped from $0.0225 to $0.0216 by 3.96%. The intraday loss was of 4.79% as the coin closed at $0.021. Yesterday, the coin kept the momentum steady as it opened at $0.021672 and closed at $0.021676 having a minute change of only 0.02%. Today, the coin escalated by 1.91% from $0.021 to $0.022.

ParticularsTron (TRX)
Price$0.022087
ROI984.34%
Rank12
Market Cap$1,483,174,554
Circulating Supply66,682,072,191 TRX
24hr Volume$478,154,962

Tron Price Prediction and Conclusion:

The price of the coin has been drooling from the last month. The loyal traders were disheartened by the momentum of the coin. Many investors would have even gone short with their investments in the coin as they had no hope of recovery. Unlikely, we believed that Tron wouldn’t suffer for a long and soon revive back.

The coin will continue the recovery and start rising in some time. The coin is likely to touch $0.060 by the end of 2019. The traders with a long-term prospect can dig in with a view to fetch high dividend.

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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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