Price Analysis

Tron Price Analysis: Tron (TRX) is Gaining Strength to Ride the Bull

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  • Tron (TRX) has shown 2 major price variations in the last 24 hours.
  • The 2019 price target remains at 0.06 USD.

Tron (TRX) has maintained its reputation as one of the most promising cryptocurrencies in the market by showing toughness and stability in the times of trouble. As many coins are showing huge instability and price variations, the value of each TRX coin seems to have stabilized for the last few days. It has not shown any drastic change in the price from yesterday. However, two major variations happened in the last 24 hours that need to be noted. At around 03:45 UTC, the coin was at 0.0336 USD, and it started falling from there, at the first phase it went down as low as 0.03250 USD, and in the second phase, it fell even further to 0.03220 USD. However, since 21:00 UTC yesterday until now, the coin has been growing at a slower pace. The medium-term outlook is bullish for Tron. By the end of 2019, the value may get as high as 0.06 USD. Let us look at the current details of the coin.

Tron Price Statistics-

Tron Price Chart - 21 June
Tron Price Chart
Tron (TRX) 21st June 02:25 UTC
Rank 12th
ROI (Return on Investment) 1,529.22%
Coin Circulation 66,682,072,191 TRX
Market Cap 2,227,413,671 USD
Value in USD 0.03319556 USD
Value in BTC 0.00000344 BTC
24h Volume 612,267,762 USD

TRX to USD Price Comparison-

The initial three months of 2019 was full of instability for Tron. The first hike happened on 13th January when the coin gained 36.50% over 14 days. At around the last week of March, the coin gained strength, and it was valued 34.85% more over 13 days. As this growth was due to the April boom, the coin all of a sudden lost 23.52% of its value in the next 31 days. The latest steep growth happened between 22nd May and 2nd June and the coin gained over 43.63% in this period. The market cap on 21st May was 1,908,391,235 USD, and the value of each coin was 0.02826595 USD. The current market cap and the value of each coin are respectively 16.71% and 17.44% more than the figures for the last month.

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Tron Price Prediction-

As per our prediction, the coin is likely to have a bullish medium-term outlook which may push the value around 0.06 USD. So, the target for long-term investors needs to be set at 0.06 USD or more. The resistance points are at 0.033403 USD, 0.034079 USD, and 0.034582 USD. The support levels are 0.032224 USD, 0.031721 USD, and 0.031045 USD.

Conclusion-

Existing investors need to be patient, holding the coin at least until the year’s end will be profitable.

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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