Price Analysis

Tron (TRX) Price Analysis: Tron Upcoming Release Helped the Coin to Get into Top 10 List

eToro
  • Tron (TRX) could list itself in the Top10 crypto coin for a while.
  • The 2019 target price rests at 0.055 USD.

Tron coin has been able to steal the limelight after its founder Justin Sun’s tweet about the upcoming big event. The growth both in terms of demand and market cap was so enormous that it could list itself in the top10 coin list according to CoinMarketCap. Justin Sun has also tweeted the same few days back. After the announcement over Twitter, the coin gained almost 20% over 1 day. This also has swelled the coin’s market cap. Post announcement, the market cap of Tron (TRX) has been increased by 600 million USD. So, it is now crucial to watch for the upcoming announcement and its impact. As per our prediction, the coin is likely to reach 0.055 USD by the end of 2019. Let us look at the current statistics of the coin.

TRX Coin Current Statistics-

trx price chart - june 3

eToro Crypto
  • Tron coin is currently ranked at 11th position in the market.
  • The ROI (Return on Investment) stands at 1690%.
  • A total of 66,682,072,191 TRX coin are in current circulation.
  • The market cap as on 03rd July at 09:25 UTC stands at 2,452,856,106 USD.
  • The Tron value of each coin stands at 0.03667821 USD and 0.00000433 BTC.
  • The 24h volume for TRX stands at 1,302,751,780 USD.

Tron Coin Comparison-

It should be noted that the value of each TRX coin was at the lowest (0.019 USD) when it started its journey of 2019. However, it started to show huge strength after a few days. But the growth could not be sustained. The pre-effect of April boom could be seen on the coin from 11th March and the coin gained around 35.71% in just 28 days. The market cap on 03rd May was 1,590,270,905 USD, and the value of each coin was 0.02457498 USD. The current market cap and the value of each coin are respectively 54.24% and 49.25% more than the figures for last month.

Tron Coin Price Prediction-

The upcoming announcement is to be watched to know the future growth of the coin. As per our prediction, Tron (TRX) may face major resistance at 0.038 USD and 0.040 USD. By the end of 2019, the coin is likely to be traded around 0.055 USD. But it should be noted that the coin may surge after the new release, but soon it will undergo a price correction.

Conclusion-

Before the announcement, it will be a wise decision to buy fresh coins. Trading with a constant view at resistance price will give huge profits over the current investment amount.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button