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Tron Price Action Indicates A Surge to the $0.04 Target in the Near Future

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It appears the crypto market opened trading today on a bad note. We can expect the day not to bring any sort of good news for intraday investors. The reason for this is because the majority of the coins in the market began the day falling according to the price charts. The current overall market cap of the digital as the market stands at $34 billion per coin market cap.

Tron has been affected by the general price drop experienced by the entire crypto space. if we closely look at the Tron price from June 10 to this date, the chart for the TRX/USD pair tells a different story altogether. The price action of the coin could be heading in the direction of the market trend, but any potential increase in the Tron price will also be indicated. How has Tron performed in the last 24 hours?

Tron Price Prediction: Tron’s Current Market Data

According to data by coin market cap, the price of Tron is changing hands at $0.033921 at press time. Tron also had a Return on Investment of 1547.44% and daily trade volume of the digital asset stands at 768,802,776 USD. Tron also had a circulating supply of 66,682,072,191 TRX and total market capitalization of $2,253,388,662 as of when this content was published.

The action of the virtual currency reflects a price increase in the last 30-days the charts. The price of Tron was trading at $0.02924 as of 10 June. Then the price of the coin later escalated to the $0.03359 position from its opening price at the time. This progression reportedly marked an increase of 14.86%.

The price of TRX eventually started moving up on the Tron daily chart. The major price jump for the digital asset was registered when Tron price reached the $0.039949 position after increasing $0.032881. This time the price progression reached 21.50%.

Later, the price of Tron slipped from the $0.039286 position to trade at $0.030205 which is a 22.91% drop. The month of July opened for Tron price with a 3.67% drop as it changed from the $0.031760 position to trade at $0.030593. However, the digital asset kept moving up from that point and is now trading at the $0.033921 area.

Comparing the Price of Tron from 30 Days Earlier to Current Levels

The price of TRX reportedly changed from the $0.029244 area as of 10 June to trade at $0.033921 as of 10 July. This price change for the digital asset was a difference of 16.11%. In the last 10 days, the price of Tron has also registered a surge. The counters have changed from the $0.031 area to the $0.033 region which is an increase of 6.99%.

The price of Tron is expected to increase for the coming period according to the daily chart for TRX/USD. By the end of this year, the price of Tron (TRX) could reach the $0.05 position.

The future prospects of the coin seem to be favorable as Tron is expected to flourish in the long term.  Hence, crypto traders can dig in carefully and book their profits at a future date. It is advisable to follow market trends daily to understand them properly to make an informed decision.

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Tron

Tron News Today – Top Headline for Tron TRX

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  • Tron CEO Justin Sun Promises To Make Big TRX Announcement Soon
  • Tron Collaborates with Beijing University of Posts and Telecommunications

The digital asset space isn’t short of big announcements. Major projects always bring new offerings to improve their network. Now, there might be something new from the Tron network. Reports have it that Justin Sun, the CEO of Tron, has promised the TRX community that there will be another big announcement from Tron by the end of this month. Sun was forced to remark after been provoked to do so by a Tron follower.

Sun Kept his Promise to Cut Down Social Media Appearances

It’s been a long time coming since the Tron chief and founder made his usual popular ‘announcement of an announcement’ on Twitter. Recall that Sun had promised to cut down his social media presence. This came after they were delays with his lunch with business Mogul, Warren Buffett as well as Sun’s battle with kidney disease.

To date, Sun has kept to his word. Recall that he said that there would be no ‘announcement of the announcement’ on the social media for a while. However, on October 15, the Tron chief did it again. This time, the Tron founder and CEO simply gave a reply to a question from one Tron follower, who asked him this question: “when is the big news? 

The Tron chief was forced to speak. And he declared that Tron followers can expect a big announcement from the network soon enough.

The Tron Community Assumes There is a Tron-Samsung Collaboration

However, in the comment thread, the members of the Tron community began to offer their guesses regarding the announcement that Sun suggests would be. Some suspect he intends to make the big announcement during the Halloween season. 

Others have also assumed that this is going to be an announcement of the network’s collaboration with the tech giant, Samsung. However, no one is sure of what it would be. We just have to wait and see.

Tron Collaborates with Beijing University of Posts and Telecommunications

As was initially reported by the Tron team, Tron has entered into a partnership with the State Key Laboratory of Networking and Switching. The partnership was with the information security center of the institution. The State Key Laboratory of Networking and Switching is an extension of the Beijing University of Posts and Telecommunications.

It is understood that the Tron team will use the researches’ divisions’ academic expertise of the institute to enhance the creation of the Tron Blockchain. In return for this, the Tron Foundation will “assist the university’s researchers with its group of cutting-edge technologies”.

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Tanya Abrosimova Tanya Abrosimova FXStreet Follow TRON price analysis: TRX/USD crashes to 14th place on CoinMarketCap

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  • TRON’s coin resumed the decline, broke below the trend line.
  • TRX/USD is vulnerable to further losses if the recovery fails to gain traction.

At the time of writing, TRX/USD is changing hands at $0.0148. The coin has lost over 6.5% in recent 24 hours, and the downside momentum is still growing. Currently, TRON takes 14th place in the global cryptocurrency market rating, losing three positions to Monero (XMR), Cardano (ADA) and LEO. The total market value of Tron reduced to $983 million; an average daily trading volume registered at $626 million.

TRX/USD, technical picture

TRX/USD dropped below the short-term trendline that goes from the recent low of $0.0117.  This development is regarded as a bearish signal that may result in increased downside pressure on the coin. The nearest support is located on the approach to $0.0143 (October 15 low). Once it is out of the way, the sell-off is likely to gain traction with the next focus on $0.0140 and $0.0131 ( the lower line of a Bollinger Band on a daily chart).

There are plenty of technical barriers on the way to the North. We will need to see a sustainable move psychological $0.0150 to extend the recovery towards the next barrier related by $0.0152 (the middle line of a Bollinger Band on a daily chart). Once it is out of the way, SMA50 (Simple Moving Average) daily at $0.0154 will come into focus. Meanwhile, an ultimate resistance is created by the above-mentioned upside trendline currently at $0.0158. 

TRX/USD, daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

There are plenty of technical barriers on the way to the North. We will need to see a sustainable move psychological $0.0150 to extend the recovery towards the next barrier related by $0.0152 (the middle line of a Bollinger Band on a daily chart). Once it is out of the way, SMA50 (Simple Moving Average) daily at $0.0154 will come into focus. Meanwhile, an ultimate resistance is created by the above-mentioned upside trendline currently at $0.0158. 

TRX/USD, daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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Tron TRX price is down to $0.014 amidst bearish market trend

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Tron TRX price has hit a major bearish snag today after staying afloat for some days. TRX price is down from $0.0158 range to the $0.0149 range. Tron (TRX) is the 13th largest cryptocurrency in the market with a market capitalization of over nine hundred and eighty-seven million dollars ($987.241M), and a trading volume of over six hundred and twenty-five million dollars ($625.588M).

Tron is no exception since the market as a whole is going down the bearish trend including Bitcoin (BTC) and the major altcoins. Tron TRX price chart by Trading View Tron TRX price down in bearish market trend? The cryptocurrency market has been striving ever since it topped out in June 2019. The Chicago Mercantile Exchange (CME) Group has reported on Twitter, that user interest in CME Bitcoin (BTC) is still strong, compared to Q3 2018.

The increase in open interest amounts to nearly sixty-one percent (61%). Grayscale Investments is a cryptocurrency asset manager based in the United States. The authority claimed that its product got an investment of over two hundred and fifty million dollars ($254M) in Q3 2019, although it had a total investment of over eighty-four million dollars ($84.8M). Eighty-four percent (84%) of this investment amount was gathered from institutional investors.

Facebook and Telegram’s regulatory problems, along with the rejection of the Bitcoin (BTC) exchange-traded fund proposal have not been very kind to the crypto market. Although the cryptocurrency markets are at a downfall, major crypto assets are currently trading over their support levels. Tron TRX price movement: What to expect? The TRX price dipped past the uptrend line today and is still news the same points. If the bears keep the Tron TRX price under moving averages, the cryptocurrency may lower down to $0.0136 and $0.01124.

Tron TRX price chart by Trading View If the bulls can possess the moving averages, we expected that the trading pair may push upwards to $0.01866, which has been a major barrier during the preceding pullback bids. If the bulls push the price over the $0.01866 marks, the trading pair may move back to $0.041, with a resistance level of $0.030.

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