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Price Analysis

Tron Price Analysis: Tron (TRX) Price Heavy Drop on the YTD Chart; Price Slips below from where it Started

  • Tron (TRX) price experiences a heavy drop.
  • The coin would take some time to recover.

Tron (TRX) is experiencing a heavy price pullback. The coin has almost reached the level from where it began at the starting of the year. The traders in the coin are disappointed with the movement of the coin.

The currency was dealing with good momentum in the previous week. The current scenario changed the dynamics of the coin. Let’s have a look at the YTD chart of Tron.

Current Statistics of Tron (TRX):

Particulars Tron (TRX) 
Price$0.017878
ROI786.38%
Rank14
Market Cap$1,212,391,918
24hr Volume$429,452,789
Circulating Supply66,682,072,191 TRX

TRX to USD Price Comparison:

The Tron chart is taken from Trading View on 19th August 2019 at 05:33:39 UTC for price analysis.

Tron price chart - Aug 19
Tron Chart By TradingView

Starting from January, the coin opened with an upsurge. The price shifted from $0.020 to $0.026 by 30.39%. The price dropped in February from $0.026 to $0.023 by 10.11%. March again witnessed a slight upsurge of 3.9%. The price switched from $0.023 to $0.024. April brought another drop of 1.41%. The price counters changed from $0.0248 to $0.0246. May brought a maximum upsurge in coin from $0.024 to $0.038 by 53.78%. June began the regression in coin. The price slipped from $0.038 to $0.032 by 15.38%. July continued the fall. The price slipped from $0.032 to $0.021 by 31.90%. In August, the price continued the drop from the beginning of the month till now. The price changed from $0.021 to $0.017.

Tron Price Prediction and Conclusion:

Tron (TRX) has a good track record. The coin was dealing with a nice momentum in the past. We are quite positive that the coin would come out of the drop soon. The currency is anticipated to close around USD 0.050. The future is quite promising for the traders in Tron.  For now, the short term investment looks most suitable for Tron.

However, we would strongly recommend distributing the investment in the cryptocurrencies to deteriorate 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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