Tron (TRX) is among some of the most popularly talked about cryptocurrencies of the past few weeks. The currency, which was otherwise a silent mover in the markets suddenly shot to prominence in early 2018. Tron has been around since the September of 2017 - and in this short span of time it has managed to find many backers. Over the past 24 hours, Tron lost $0.05 in valuation as it fell from $0.068 to $0.063.
Over the past seven days, Tron peaked at $0.088. The currency hit rock bottom at $0.060 earlier today, but has since been on a path to recovery. While the current growth is negligible, it is being expected that TRX is all set to enter a major growth rally in the days to follow, which will help take its price back to $0.02.
What really works out in the favor of the currency is the fact that Tron finds a solid support at the $0.06 mark. The currency is expected to grow along in a zig-zag growth channel which will eventually help it skyrocket. Tron, which is currently at $0.063 is expected to grow to $0.2 over the next couple of months.
[caption id="attachment_2447" align="aligncenter" width="1186"]
Expected movement of Tron prices | Image: Tradingview[/caption]
Earlier this month, when Tron jumped to the all-time high level of $0.27 - it was almost an overnight growth. The currency went from $0.07 on the 3rd of January to $0.27 on the 5th. This was a 4x growth which happened in less than 48 hours. However ever since it hit the all-time high mark the currency has been tumbling down.
This recent dip in the prices where it went to $0.06 is expected to be an entry point for new investors and market bulls. It isn't just Tron which has been dropping over the past few days. Most other cryptocurrencies including Bitcoin have been facing a major slowdown. However, it looks like a market recovery is in sight and Tron is likely to be one of the biggest beneficiaries of this recovery.
: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.