Since the past ten days, Tron (TRX) was on a massive growth rally as its price went from $0.03 to $0.25. However, shortly after it peaked, a major correction followed and Tron lost over 50% of its value, with the prices coming down to as low as $0.11 - however, it is now expected that the currency is going to bounce back even harder - reaching an all-time high of as much as $0.4 in the days to follow. The current price it is at is actually the line of support - which is somewhere around $0.1 to $0.11 - now that the support has been reached, the currency is slowly expected to grow. A few minor corrections are expected every now and then - but the price of Tron is expected to not go below this level. If you take a look at the graph below, the green curve is the path the currency is expected to follow. [caption id="attachment_2023" align="aligncenter" width="1161"]TRX/USD Price Prediction | TradingView TRX/USD Price Prediction | TradingView[/caption] Above the green curve there's a zig-zag line showing the way Tron is expected to move forward. A weak resistance is likely to form at $0.18 mark, while a stronger resistance is expected to form at the $0.27 mark - however, keeping all the factors and market conditions constant, Tron might just be able to go beyond these levels and breach the line of resistance eventually - helping the prices soar. As per Sebastian Seliga of tradingview, If the line of resistance is indeed breached, Tron's bullish momentum will take it to levels of $0.4 before it faces another major correction. The current stop loss should be kept at $0.08 USD - while a lower-support is expected at $0.05 USD. However, it is unlikely that Tron will fall to these levels. For those looking at the $0.3 mark,
  • First target: $0.20
  • Second target: $0.32
  • Third target: $0.41
However - at every level there is going to be some resistance leading to a correction which might lead to some sort of a drop, but that shouldn't bother seasoned traders. Disclaimer: 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.

CryptoCrimson Staff

We publish crypto news, We're awesome. This account is handled by the staff members at CryptoCrimson. They find the latest Bitcoin, Ethereum, Ripple, Litecoin, Monero, and other cryptocurrency market related updates.