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Price Analysis

Will Tron Price Recover from The Bear Outburst?

  • TRX coin has been experiencing a lot of bear pressure over the past 5 days

Tron price has gone through a lot of oscillations since the bears gained a stronghold on the crypto market since July. Even now there is continual volatility in the market and the bears are exerting pressure on the price of Tron as seen from the 5-day movement where the prices are in the range of $0.0147 – $0.0161.

Tron Price Analysis

Tron may have a slow road to recovery, as indicated by the movements of price over the past 5 days. From a high of $0.0161 on September 8, the price spiraled downwards to $0.0151 within 7 hours on the same day to the extent of 6.64%. On the next day, the price has recovered at $0.0160 to the tune of 5.99%. The bears got stronger and TRX price was severely hit and went down to $0.0146 on September 12 to the extent of 8.86%.

Today, Tron price has mildly recovered to $0.0149 to the tune of 2.14%. The trend over the 5 days shows the bears putting continual pressure on the price of TRX coin.

Tron price chart
Tron Price Chart by TradingView

The volatility in the crypto market has not worked well for the TRX with its prices continually being pushed in the lower range. Analysts are, however, bullish on the coin and have kept a target price of around $0.050 for the year-end.

Investors should continue to hold on to their investments as the market is still volatile. Short-term and intraday traders will have to be very cautious as the market is showing signs of varying fluctuations and they may end up with a loss.

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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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