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Price Analysis

Tron Price Analysis: Tron (TRX) Price Embarks On The Recovery Journey

Intraday Movement Looks Promising

  • Tron (TRX) shows a sign of recovery with the intraday movement.
  • The long-term prospects seem to be better.

Tron coin is considered as one of the most promising currencies in the crypto market. The coin has earned a lot of accolades in its run from the start of the year until now. In the previous month, the parent company was looking forward to some meetings and ventures which was supposed to help Tron. But the same did not really work, and the coin experienced a downtrend for almost the entire month.

The loyal traders started eyeing the current month movement of the coin. Well, the same has come true. The TRX coin has finally taken an upward leap. Let’s have a look at the price chart.

Current Statistics of Tron:

  • The current trading price of the coin is $0.020301.
  • The TRX coin is ranked at 12th position in the crypto market.
  • The 24hr volume of coin is marked as $508,521,669.
  • The market cap is noted as $1,357,991,481.
  • The circulating supply is around 66,682,072,191 TRX.

TRX to USD Price Comparison:

The chart is a data feed from TradingView as on 10th August 2019 at 03:05:37 UTC.

Tron Price Prediction
Tron Price Chart by TradingView

The chart is reflecting a heavy drop in the first half of the give time period. Whereas, in the latter half, the trx coin shows a sign of recovery with the past 24-hour movement. On 8th August, the coin opened with an escalation of 3.19% and the Tron price counters changed from $0.021 to $0.022. Further, the coin slipped from $0.0223 to $0.0220 by 1.28%. Yesterday, the coin was tremendously caught in the market pressure and dropped by 10.32%. The coin opened at $0.0220 and closed at $0.019. Today the tron coin has booked an escalation of 4.53% from $0.019 to $0.020.

Tron Price Prediction and Conclusion:

Tron coin is showing some positive indications. It is anticipated that the coin will gain its position back in the market. We are looking forward to a big change in the trend of the coin. The traders who are interested in Tron coin should dig in for a long-term investment plan. The coin is likely to touch $0.060 by the end of the year. However, we would strongly recommend diverging investments in the crypto market to cut short the risk.

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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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