Price Analysis

Tron Price Analysis: Tron (TRX) Seems to be Finding it Tough to Recover

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  • Tron (TRX) loses 1.12% in the last 24 hours after showing five price swings.
  • The coin may take more than usual time to find a rally.

Tron, the 13th largest coin is one of the major coins which are tracked to understand the health of the whole industry. The coin is now down by 1.12% in the last 24 hours price movement. However, it has every fundamental on its back for showing a rally before 2019 ends. Let us look at the current details of the coin first to understand its movement pattern.

TRX to USD Price Statistics-

Tron Price Prediction- August 03
TRXUSD Price Chart by TradingView
Tron (TRX) 3rd August 06:37 UTC
Rank 13th
ROI (Return on Investment) 967.90%
Coin Circulation 66,682,072,191 TRX
Market Cap 1,447,861,018 USD
Value in USD 0.02167707 USD
Value in BTC 0.00000206 BTC
24h Volume 369,615,136 USD

TRX to USD Price Comparison-

Tron faced its first price swing between 00:00 UTC and 03:33 UTC and it took the coin from 0.022 USD to 0.021 USD. After a few hours of recovery, the again faced a dip in the price by 3.01% and it was followed by another phase of strengthening by 1.86%. These two variations make a perfect inverted pyramidal growth at 16:03 UTC. The fourth swing happened between 16:03 UTC and 21:03 UTC and this swing of 2.64% cost the investors 0.0005 USD. The latest swing is responsible for placing the coin near 0.0219 USD after a gain of 2.32% and the coin started with a bearish outlook today.

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TRX Price Prediction-

Tron has a decent track record of growth after days of struggle. The coin’s potential hints at 0.06 USD before the start of 2020. The details of all the resistances and support levels are as follows.

Tron (TRX)
1st Resistance 0.022173333 USD
2nd Resistance 0.022587667USD
3rd Resistance 0.022879333USD
1st Support Level 0.021467333USD
2nd Support Level 0.021175667USD
3rd Support Level 0.020761333USD
Conclusion-

Before the end of the next quarter, the coin is likely to have a turnaround. The long-term investors are to be benefitted immensely if the experts’ prediction comes true.

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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