Price Analysis

Tron (TRX) Price Analysis: Is the Price Surge in Tron after CEO’s Tweet Long Standing?

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  • Justin Sun, CEO of Tron foundation, tweeted mentioning some new update on Tron (TRX).
  • The bullish medium-term places the coin to 1 USD.

A large part of the crypto sector is based on investors’ sentiments and prediction. And in consonance with this trend, recently Tron (TRX) has gained huge momentum after oral intervention by founder and CEO of Tron foundation, Justin Sun. Justin’s tweet reads, “Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT.”  After this tweet, the market of Tron got on fire. There was a huge surge in the demand of the coin as well. This surge has pushed the coin to gain almost 80% of its previous value in just 1 day. We predict a bullish short-term and medium-term outlook for Tron (TRX). By the end of 2019, the value of each coin should be at 1 USD. We should now look at the current figures of this coin.

TRX Price Statistics-

Tron chart

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  • Tron (TRX) is the 10th largest coin in the global crypto market.
  • The ROI (Return on Investment) stands at 1642.13%.
  • A total of 66,682,072,191 TRX coins are in current circulation.
  • The market cap as on 28th May at 02:48 UTC stands at 2,380,084,866 USD.
  • The value of each coin stands at 0.03605941 USD and 0.00000406 BTC.
  • The 24h volume stands at 1,638,251,872 USD.

TRX Price Comparison-

Tron’s starting value was the lowest one when it was being traded at 0.019 USD. Tron has shown many steep price variations in the course until now.  A huge growth can be noticed on 26th March from where the coin gained 35.26% in just 13 days. The market cap and the value of each coin on 28th April were 1,586,734,916 USD and 0.02405492 USD. The current market cap and the value of each Tron coin are respectively 49.99% and 49.90% more than the figures for last month.

Tron Price Prediction-

As mentioned earlier, Tron’s future is bullish. The next resistance point will be there at 0.05 USD and 0.1 USD. We predict the coin to reach as high as 1 USD by the end of 2019. There will be many instances of steep up and down in the coin’s price projection.

Conclusion-

In this lower price range, it is advised to buy fresh coins. Short-term investors should be aware of the resistance points.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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