In today’s article, we will be using an analysis of past price trends and market opinions to establish a Tron (TRX) price prediction for October 2019.
What Is Tron (TRX)?
The Tron blockchain was established in 2017 by Justin Sun, a former employee of Ripple, as a content and entertainment sharing platform. The native coin of the Tron platform is TRX.
The Tron Protocol is a blockchain-based operating system that allows the development and deployment of smart contracts and decentralized applications, as well as enables publishers to share, publish, own, and store data, as well as other content in a decentralized manner. The network was designed to provide massive scalability and high-volume transaction processing.
Tron Price Prediction: Analysis
TRX debuted the month at $0.0146, gaining that day 11%, and closet at $0.0141. On October 2nd, Tron maintained its bearish sentiment, going from $0.0141 to $0.014. The hourly movement of the coin showed that the resistance point was around $0.0148, which was then decreased to $0.014.
October 3rd saw TRX/USD trading at $0.0143, with a gain of 4% that day, without much price movements recorded throughout the day. TRX closed the day at $0.01419.
Tron started October 4th at $0.0143, exhibiting a slow and steady growth through the day up until it closed at $0.0147. The 5th of October opened at $0.0147, and after experiencing some dips during the day, it closed at $0.015.
October 6th had Tron at a trading price of $0.0152, with the crypto gaining 3.5% in the previous 24 hours but remained steady since the start of the day.
Our Tron price prediction analysis continues into the next week, with Monday, October 7th, opening at $0.0148. The coin lost the gains it made the previous day but, by the end of the day, it recovered and climbed to $0.0164.
After Tron’s impressive recovery on Monday, October 8, TRON’s coin maintaining itself above the $0.016 mark, trading at $0.0163, with recorder growth of over 10% in the previous 24 hours.
Tron continued its bullish movement into October 9th, trading at $0.0167. During the day, TRX briefly touched $0.0172 levels but did not manage to remain at the $0.07 mark, closing the day at $0.0168. October 10 opened at $0.0169, presenting a gradual downward tendency, closing at $01.0164.
Today, October 11th, TRX has a trading price of $0.0160, with a loss of 0.82% during the past 24 hours, with the price losing its bullish momentum since it reached the $0.0172 high. Currently, TRON is ranked 11th, according to a market cap of $1,072,456,764 and an average daily trading value of $658,201,552.
From a technical perspective, TRX/USD generated a lower high at $0.0175 from within the long-term bearish trend created since June 2019, when the coin reached a high of $0.0400. Since then, it lost 60%, bottoming at $0.0117. In spite of its small recovery signs, TRX failed to get to previous resistance levels of $0.0186 (September 21), which might signal a bearish trend.
On a daily chart, the initial support is created by SMA50 (Simple Moving Average) at $0.0156. Movements below this line will enable an extended correction to the short-term upside trendline in tandem with the $0.0147 of the lower line of one-day Bollinger Band.
If the coin moves past the $0.0175 mark, the bearish forecast will be negated and might signal a price recovery.
Our Tron Price prediction also focuses on the project’s developments and announcements, as these can also influence the price of TRX.
In recent news, it has been revealed that the Tron chain will implement the Dai stablecoin through a layer 2 scaling solution called Loom network. Justin Sun announced that there will be some secret revolutionary project designed by the developers of the BTFS. The BTFS protocol was launched by Tron in the third quarter of 2019, and it was designed to offer a set of tools for developing decentralized storage networks.
From the start of the month, TRON attracted a lot of attention when it announced an upcoming project involving BitTorrent. Following this announcement, there was an increase in value for both TRX and BTT coins by 20% and 10%, respectively.
Binance, a top crypto exchange, recently included support for Tron on its staking platform.
The number of decentralized applications that run on the TRON protocol is still on the rise, reaching 622 in total, in the past week, representing a 6.5% increase, based on the latest information.
“According to @dapp_review, the number of TRON DApps reached 622 in total with 38 new DApps. Both the number and volume of transactions have picked up since last week. Also TRON-based BTFS protocol launched its mainnet in Q3, 2019,” tweeted Justin Sun recently.
On October 10th, Tron announced a new alliance, which is part of an international education initiative for preparing the next wave of blockchain developers. Among the foundational thirteen companies that will join their forces to offer their abilities and proficiency to change the industry for the better are TRON, Stellar (XLM), Hedera (HBAR), ICON (ICX), Wanchain (WAN), and Ontology (ONT). Other companies that have been reported to be included in the alliance are Emurgo, ETC Lab, Harmony One, Nervos, Orbs, LTO Network, and NEM (XEM).
Tron’s roadmap features many significant upcoming projects, and its CEO, Justin Sun, seems to have good ties and market leaders such as BitForex, FX market company – Shift Markets, and even China-based exchange OTCBTC.
Tron (TRX) Price Prediction: Market Opinion for October 2019
Various crypto sites have issued their own Tron price prediction for October, so in order to have a better insight into the market sentiment, we have featured some of them below:
WalletInvestor predicts that the trend for Tron will be bullish, based on the past prices of the last 30 days.
It calculated the three resistance points and levels at:
- Resistance Level (R3): 0.0178;
- Resistance Level (R2): 0.0174;
- Resistance Level (R1): 0.0169;
- Support Level (S1): 0.0159;
- Support Level (S2): 0.0156;
- Support Level (S3): 0.0150.
The Pivot Point was calculated by the site at 0.0165.
The Uslifed website predicted that the price of Tron would be 0.45 USD in October.
CryptoGround’s Tron price prediction is based on their deep in-house learning (neural network) algorithm applied to the historical data of TRX. They forecasted that, in one week, the price for Tron will be $0.0165, with a change of 3.04% and, in one month, it will have $0.0164, with a change of 2.39%.
CryptoRating predicted that Tron will reach $0.019617 in one week, with a change of 21.58%, and in one month, they expect the coin to reach $0.022704, with a 40.71% change.
Tron Price Prediction: Verdict
We hope that our article has helped you in getting a clearer image of the Tron market, which will possibly help you in your trading activities. As we all know, no one can accurately predict the price of any crypto, regardless of how much information or expertise they have.
Tron (TRX) Price Prediction and Analysis in November 2019
Today, we will be taking into account the past price trends and market opinions of TRX in order to help you formulate a Tron price prediction for November 2019.
Tron is a blockchain project that was developed by Justin Sun, a former employee of Ripple and a serial tech entrepreneur. The native coin of the platform, TRX, was designed as a payment method for online content creators and publishers.
The goal of the platform is to create a global entertainment network that is powered by blockchain. TRON is based on a decentralized environment that has an open-source code where all users are allowed to store, publish, and distribute content.
According to Justin Sun, Google Play and the App Store only cater to the content needs of a limited number of users.
In June 2018, TRON launched its own mainnet, the day being now known as TRON’s Independence Day. The mainnet release moved TRON from the Ethereum blockchain on its own blockchain, which granted independence to the TRX token. The TRX token was previously built on Ethereum’s ERC-20 protocol, but now TRX functions on its own architecture.
The launch of the TRON mainnet also enabled the development of dApps on the TRON blockchain, outing the TRON project in direct competition with Ethereum, as it featured higher transaction speeds and scalability. Although TRON still has a long way before it reaches Ethereum’s popularity.
Currently, TRON has a trading price of $0.017176, ranking in 11th place with a market capitalization of $1,145,301,631, and a circulating supply of 66,682,072,191 TRX. Tron has decreased with 9.48%, and the 24-hour price volumes show that $1,137,753,710 worth of TRON was trading.
Tron Price Prediction: Analysis
Towards the last days of October, TRX saw a surge in price, which brought the coin to new monthly highs. On October 30th, TRX was trading at $0.022002, but the next day it slowly started descending to $0.020099.
This downward trend continued until November, as Tron opened the month at $0.019902 and was traded at around that level for the remainder of the day.
On November 2nd, Tron continued to follow the downtrend of Bitcoin, Ripple XRP, and others, with the price continuing to go down. Tron TRX was trading at $0.019673 but managed to briefly touch the $0.20 resistance level.
Up until November 7th, Tron continued trading between the $0.0193 and $0.0199 support levels, and occasionally touching $0.020.
On November 8th, the coin went below the $0.019 mark for the first time that week, closing at $0.018794.
The following three days, the coin traded between $0.0187 and $0.0197, struggling to get back to its former support levels.
On November 12th, the coin opened the day at $0.019091 and maintained a steady value throughout the day. November 13th saw some improvements, as TRX reached $0.020237, and closed the day at $0.020113.
November 14th saw a promising start, with $0.20, but it slipped to $0.019 towards the end of the day. Tron once again began falling on November 15th, as it went down again to $0.018 levels. The trend continued in the following days, when on November 18th, the coin reached a new low for this month, $0.017202, closing the day at $0.017397. Today, November 20, TRX is trading at $0.017128.
The current resistance, pivot, and support levels have been calculated at:
- Resistance Level (R3): 0.02012
- Resistance Level (R2): 0.0195
- Resistance Level (R1): 0.0185
- Pivot Point: 0.0178
- Support Level (S1): 0.0168
- Support Level (S2): 0.0162
- Support Level (S3): 0.0151
The Medium blog of Tron is very active, posting almost daily news regarding project updates, sponsored competitions, partnerships, and many others.
On GitHub, the project has 42 repositories, but only two developers, however, they seem to be very active, as updates were performed just a few hours ago.
The CEO of the project, Justin Sun, also has strong ties with market leaders, as well as previous partnerships with BitForex, FX market company – Shiftmarkets, and Chinese exchange OTCBTC. It is certain that the founder’s influence in the crypto market will garner him more prominent partnerships in the future.
On October 28, the president, Xi Jinping, has revealed the acceleration of blockchain adoption, which boosted the price of Tron with 25% in the last 24 hours of that day, taking TRX from $0.016195 to $0.019132.
There have also been rumors that the Dai stable coin will be implemented on Tron and Binance chains via the Loom network layer 2 scaling solution.
Tron Price Prediction: Market Opinion for November 2019
There have been a few crypto websites that have made their own TRON price prediction for November 2019. To have a broader view of the market, we decided to incorporate some of these forecasts:
The Cryptorating website predicted that in one week (26 November), the coin will be trading at around $0.021761, with an increase of 27.26%.
Cryptoground also made a forecast for 26 November, foreseeing that the coin will be trading at $0.0165, with a loss of -5.70%.
Digitalcoinprice forecasted that Tron will have a trading price of $0.03076739, with an increase of 75.6 %. This is one of the more optimistic predictions.
Bitverzo issued price predictions for Tron for the remaining days of November, along with the average, low, and high values of each respective day.
- Wednesday, November 20, 2019: average $0.014926, low $-0.020469, high $0.050714;
- Thursday, November 21, 2019: average $0.016136, low $-0.017571, high $0.049593;
- Friday, November 22, 2019: average $0.016547, low $-0.018248, high $0.052267;
- Saturday, November 23, 2019: average $0.015817, low $-0.021129, high $0.052502;
- Sunday, November 24, 2019: average $0.015477, low $-0.020329, high $0.051640;
- Monday, November 25, 2019: average $0.014522, low $-0.019646, high $0.048376;
- Tuesday, November 26, 2019: average $0.014042, low $-0.022223, high $0.047405;
- Wednesday, November 27, 2019: average $0.014727, low $-0.022271, high $0.050933;
- Thursday, November 28, 2019: average $0.015938, low $-0.018132, high $0.050105;
- Friday, November 29, 2019: average $0.016349, low $-0.019754, high $0.049723;
- Saturday, November 30, 2019: average $0.015619, low $-0.018490, high $0.051191.
Gov.capital predicted that Tron will be trading in November at $0.02021, with a maximum value of $0.0204, and a minimum value of $0.0200.
Tron Price Prediction: Verdict
This has been out Tron price prediction for November 2019. We hope that the information that we provided will be of help in your TRX trading.
Featured image: beincrypto.com
Tron Transcends to New Heights With 800 Million Transactions
In a very short period, Tron has transcended in the crypto industry, dominating every sphere within its reach including the DApp space.
Misha Lederman, Tron Foundation cheerleader and CCO of BeatzCoin of announced on twitter that Tron has surpassed 800 million transactions the first time since its inception. Further, Misha enthusiastically informed that they have achieved this significant milestone in a very short time without any security breaches, hacks or congestions.
Lederman also remarked that Tron executed 51k transactions every few minutes while Facebook’s Libra processed 51k transactions in two months period during its testnet metrics. He further added that Tron transactions have even overtaken Bitcoin and Ethereum with $475 million and $584 million, respectively.
Tron’s Massive Success:
Tron has many reasons to celebrate. It has reached new highs in several terms.
- Tron even has managed to exceed the block height of 14.48 million with nodes summing up to 973.
- 58,989 new addresses have been added over the past week, taking the total account count to 4,114, 560.
- Tron has also noted 9.63 million transactions in a single last week.
- The dApp count has increased by 5 in last week and has reached to 628.
- The number of active users has reached to 351,300 and number of transactions recorded were 6.04 million
- In terms of volumes, the trade saw new heights of $30.81million.
- Tron’s latest venture Super Representative program (SR) has been gaining a tremendous response from top exchanges, including Binance, Poloniex, Huobi, and HitBTC.
Tron is a blockchain-based platform that was incepted in September 2017 in Singapore by Tron Foundation. It is a token network that is similar to Ethereum in design, but differs in the Consensus mechanism and has a highly active network like EOS. Under the leadership of Justin Sun, Tron aims to develop a global digital content entertainment system with decentralized storage technology to share the content at minimum cost.
Tron makes it to Senbit crypto exchange as the listing spree continues for TRX
The Senbit acceptance comes after Justin Sun had confirmed that Tron would begin trading on Poloniex, one of the most popular exchanges on the planet.
Tron and its founder Justin Sun have been in the news multiple times recently due to updates and developments in the cryptocurrency industry. Tron has also successfully managed to create tie-ups with other organizations in a bid to boost its mainstream appeal. In a recent Twitter post, the CEO and founder revealed that the TRX token was listed on Senbit, a cryptocurrency exchange.
Both the companies have stated that the deposit time is at 15:00 SGT on November 19, while the trading time was 14:00 on November 11. The listing was just one of many developments that have propelled Tron and its value upwards for the past couple of weeks. The 11th ranked cryptocurrency was trading for $0.017, with a total market cap of 1.16 billion. TRX held a 24-hour market volume of $988.5 million after a significant 8.66 percent fall in the past 24-hours.
The Senbit acceptance comes after Justin Sun had confirmed that Tron would begin trading on Poloniex, one of the most popular exchanges on the planet. Poloniex’s official blogpost noted:
“We are pleased to announce that TRON (TRX) is coming to Poloniex soon. Customers will be able to post limit orders for TRX/BTC, TRX/USDT and TRX/USDC pairs on 2019/11/12 at 15:00 UTC (“Post-only” mode). Full trading of TRX will be enabled shortly after this date. Be on the look-out for TRX deposits and withdrawals to be enabled in the coming days.”
Justin Sun has ensured that listing on exchanges remains a crucial priority for the cryptocurrency organization, whereas preparation has been ongoing for the creation of Web 4.0. This was further emphasized by the asset’s addition to John McAfee’s McAfeeDEX. The listing, however, occurred a week after the proposed date of November 8. The exchange has also drawn the ire of regulatory watchdogs such as SEC and IRS, the latter of which has been after McAfee for the past eight years.
The delayed launch was addressed by McAfee, who claimed that a developer committed the error. McAfee’s tweet read:
“TRON IS LIVE ON http://MCAFEEDEX.COM 🙂
Sorry for the week delay. We have disciplined the developer responsible. We are making him write: “I don’t ever want to waterboarded again” 200 times on the chalk board:).”