Price analysis of TRX Tron

One of the most talked about cryptocurrencies of recent times, Tron (TRX) has managed to impress a large number of users in a relatively short time. The technology that powers Tron intends to develop a blockchain based system for of a free global entertainment system. Tron prices, however, have faced numerous ups and downs. As of this writing, Tron is the 15th largest cryptocurrency, with a market cap of $2.77 Billion and a price of $0.043.

Tron, which began the day at a price of $0.051 has fallen by almost 20% to reach the $0.043 mark now. Despite the fall in the prices, those investing in TRX seem to be quite upbeat as a major spike in the prices is expected. Over the past 24 hours, Tron’s market cap too dropped from $3.5 Billion to $2.7 Billion.

While the past 24 hours had a number of ups and downs, the past week was even more unstable. Tron (TRX) began the week at a price of $0.045 and hit a low of $0.025 in the middle of the week. The currency has since managed to bounce back and reached a high of $0.051 earlier today. However, it has since slid another 20% from there to now reach $0.043.

Price analysis of TRX Tron
Technical Analysis of Tron (TRX) | Image: Tradingview

The graph above indicates the movement of Tron (TRX) prices over the next few days. The currency is expected to take a dip (which it has) and then bounce to a new high. The currency is expected to take a jump of another 40-50% and reach $0.055 over the next few days, which is indicated by the graph. This is a short-run jump where the prices will spike by a small amount.

Those investing into Tron (TRX) must keep in mind that they should set up multiple targets and stop-losses to ensure that the trading is going smooth and they are not making a loss. Trade carefully!

For more (TRX) Tron price updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.

Here’s a look at more such cryptocurrencies today:

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.

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Simran is a computer engineer. By choice, she is a writer and an editor. She loves playing and following football. An ardent supporter of the Barcelona Football Club, she also loves watching re-runs of ‘F.R.I.E.N.D.S’ TV show. Simran has been investing as well as writing about cryptocurrencies since 2013. You can contact her on simran@cryptocrimson.com

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