Connect with us

Tron

Tron (TRX) Price Prediction and Analysis in March 2021

Published

on

Tron (TRX) is the 24th largest cryptocurrency by market cap, which is $3,405,806,735. The digital asset has a circulating supply of 71,659,657,369. $1,596,915,422 worth of TRX have been traded in the last 24 hours. There is a total supply of 100,850,743,812 TRX, and more are coming into circulation. A good investment decision requires thorough research, so we have prepared for you this detailed Tron price prediction for March 2021.

Tron Price Prediction: Analysis

TRX has been in what appears to be consolidation since the beginning of January. The price has been range bound, never exceeding $0.3645 for the whole month. No significant price gain was recorded until the start of February when the price started to go up. A steep and consistent surge was witnessed to a peak of $0.62273 on 19 February. This happens to be the year high for 2021.

The price soon experienced a sharp drop to $0.0439 on 23 February before a slight bounce to $0.0477, where it is currently hovering. Although TRX has gone up significantly in February, there are signs of a strong impending bearish trend – a double top.

The double top is a price pattern that occurs when the price of an asset goes up two consecutive times with a slight drop between the two peaks. More like two mountain tops with a shallow valley between them. Once the price breaks below the support level from which the dip in the middle bounced, a bearish reversal is confirmed, as is the case with the TRX chart below.

Advertisement

The RSI confirms that this collapsed below $51, and an attempt to rise back was resisted as the price is just printing another red candle. This suggests there could be a bearish trend in the short-term as strong support that prevented the dip between the two peaks has turned to resistance. Below are the major resistance and support levels to watch for trading TRX as calculated by Walletimvestor:

  • Resistance Level (R3): 0.0569;
  • Resistance Level (R2): 0.0533;
  • Resistance Level (R1): 0.05067;
  • Pivot Point: 0.0471;
  • Support Level (S1): 0.0444;
  • Support Level (S2): 0.04081;
  • Support Level (S3): 0.0382.

Developments

Tron has gone through some interesting developments in the last few months. The DeFi boom has led to the growth of the DeFi space, which Tron recently became a part of. If you have been following the blockchain company, you will know that it is also into the livestreaming business with its recently acquired DLive streaming service.

Well, the company got into trouble early this year for livestreaming the U.S Capitol building attack. Those involved in the attack used the service to cover the event live, and this attracted a lot of criticism from the public. They didn’t only livestream the event but also used it to raise thousands of dollars in BTC using the same service. The company is accused of allowing extremists to raise funds like this on several occasions since it was launched.

There is also some good news. The Tron DeFi ecosystem is recording tremendous growth since its recent launch. According to Tron Foundation, there is over $5.7 billion of total value locked in the Tron DeFi ecosystem. This growth may be due to the high cost of transactions in Ethereum, which is now driving users to explore the lower fees.

Tron Price Prediction: Market Opinion

These are Tron price prediction opinions from top websites.

Advertisement

Walletinvestor

Walletinvestors forecasts an opening price of  $0.0533 for March. By the 11th, the price is expected to reach a high of $0.0694. The lowest anticipated price during this period is 0.0484.

Here is Tron price prediction for the beginning of March 2021:

Date Price Min Price Max Price
2021-03-01  0.0548  0.0486  0.0614
2021-03-02  0.0544  0.0484  0.06051
2021-03-03  0.0557  0.0492  0.0617
2021-03-04  0.0569  0.05095  0.0628
2021-03-05  0.0632  0.0571  0.0696
2021-03-06  0.0639  0.0572  0.07039
2021-03-07  0.0637  0.0576  0.0698
2021-03-08  0.0623  0.0561  0.0683
2021-03-09  0.0619  0.0554  0.0684
2021-03-10  0.0633  0.0573  0.0694
2021-03-11  0.0645  0.0584  0.07068

Tradingbeasts

Tradingbeasts has a Tron price prediction that suggests it will be at $0.0587830 by the beginning of March. The maximum price for the month is $0.0736904, while the minimum price is $0.0501095. TRX is predicted to close the month at a price of $0.0589523.

Advertisement

Previsionibitcoin

This website foresees that TRX will reach an average price of $0.07 in March. The prediction is based on the expected wide adoption of cryptocurrencies in the near future. This could cause a rise in market cap and then price, which is why the TRX price prediction is bullish.

Digitalcoinprice

Digitalc

oinprice is one of the bullish websites on TRX. The Tron price prediction, according to this website, is that it will reach an average of $0.07980372 in March. This will represent an increase of 63.69 percent.

Advertisement

Tron Price Prediction: Verdict

Based on the analysis and TRX price predictions, it is likely that TRX will rise again in the coming months. However, in the short-term, a bearish reversal may be in play, which means that price could go lower or at least not go up yet. This could present a buying opportunity before the next upward move.

News Source

Advertisement

Tron

Moon Stake is now the Super Partner of TRON (TRX)

Published

on

The total accounts on TRON has exceeded 56 million.  According to TRONSCAN, TRON total accounts have reached 56,849,293.  TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.

Community response:  Less accounts but a higher price of TRON is what we need.  The price of TRX dropped below 0.1$.  Wish they burn some TRX or convey some benefits to users.

Other news:  Moon Stake is the Super Partner of TRON.  Users will be able to stake TRX to earn rewards on Moonstake Web and mobile wallets.  The integration is made possible through strategic partnership with the TRON Foundation.

Advertisement

Moonstake was established to develop a staking pool protocol to satisfy increasing demands of investors and businesses in regional and global blockchain markets. They aim to be the largest staking pool network in Asia by providing an active environment for crypto asset holders.  They are offering staking pool and node solution and enterprise wallet solution.

They offer Staking Pool as a Service.  Moonstake with their in-depth experience in developing and managing staking pool nodes in different project protocols, are currently having multi-millions worth of digital asset staked with them.  They are confident of being able to provide Staking as a Service through their proprietary SDK and API connection. The SDK approach permits institutions to plug easily and securely to their platform and stake only when required, while keeping it offline when digital assets are not moved.

They offer Node as a Service development for institutions who want to create their own project staking pools. Through their expert development team, institutions will be able to focus on their business strategy and growth, while leaving the technical development and maintenance of the staking pool nodes to Moon Stake.  Users will enjoy transparency and stability of yield returns on the POS coins while the specialists cover all the security and maintenance required.

Advertisement

Institutions choose Moon Stake as their staking solution provider because clients are always in control of their funds.  They are able to participate in the numerous projects staking pool nodes easily in a secure manner.

The staking pool from Moon Stake facilitates optimal yield options.  They also have working relationships with projects and communities, which support consistency and real-time updates.

With a clear understanding of the requirements of leading institutional fund managers and financial controllers which choose Mook Stake, they provide full detailed reporting with clear breakdowns, including multi-assets financial details and staking transactions. They also offer enterprise wallet solution and node as a service. Seamless onboarding, full control, flexible administration and permission levels, robust functions and features have all made Moon Stakes interesting for institutions.

Advertisement

News Source

Continue Reading

Tron

Tron price analysis: TRX rallies above $0.104 after piercing through resistance

Published

on

  • The bullish trend has lifted price to $0.104.
  • Bulls have been maintaining the control.
  • Support is at $0.082 as per Tron price analysis.

The Tron price analysis shows the bullish momentum has been intensifying over the past few days, and the uptrend has been quite permanent. The TRX/USD price has been able to cross the resistance present at $0.103 as well because of the upsurge. A crossover between SMA 20 and SMA 50 has resulted in a massive-scale improvement in price. The price is currently at $0.104 and is expected to grow even further.

TRX/USD 1-day price chart: Bullish momentum succeeds in elevating price to $0.104 level

The one-day Tron price analysis is confirming an uptrend, as the price has been rising consistently since the past week. The progression has been quite noteworthy as the price has been able to break past the resistance level as well. The price has taken a momentary stop at $0.104 and is expected that it will jump to further heights soon. The moving average (MA) value is at a lower level and is standing at $0.096.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 1

The volatility has increased slightly which indicates that the price might experience a drop ahead. The upper and lower values of the Bollinger bands Indicator have changed as such; the upper value is now at $0.103 while the lower one is at $0.082. The Relative Strength Index (RSI) indicator is showing its score at 60.

Tron price analysis: Bullish trend accelerates price movement above $0.104

The four hours Tron price analysis is predicting an uptrend for the cryptocurrency as the price has been progressing rapidly. TRON’s price is now settled at $0.104 and there is a high chance that it will move forward in the approaching hours. The improvement in coin value has been surprising and it seems that the buyers are inclined towards keeping the price high. Moreover, if we discuss the moving average value, then it is currently standing at $0.099.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 2
TRX/USD 4-hours price chart. Source: TradingView

As the volatility has increased substantially, the Bollinger bands are now keeping their average at $0.097. Whereas, the upper and lower Bollinger band values have moved to the following levels; the upper value to $0.102 and the lower one to $0.091. The RSI score has crossed the over-bought mark to reach 74.5 as well.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 3
TRX/USD technical indicators chart. Source: TradingView

The overall progress of TRON/USD price has been appreciable as can be confirmed from the technical indicators chart. There is a bullish indication for the day with 16 indicators present on the buying position, 10 indicators on the neutral position, and zero indicators on the selling one.

The moving averages indicator is supporting the buyers as well with a strong bullish signal. There are 14 indicators standing on the buying point, one indicator on the neutral point with none present on the selling point. The Oscillators are showing signs of bullish trend as well while keeping nine indicators on the neutral position, two on the buying position, and zero on the selling one.

Advertisement

Tron price analysis conclusion

The above one day and four hours Tron price analysis is predicting a rise in price as a constant uptrend has been following for a week. The price has pervaded through the resistance levels as well and has joined the $0.104 position. Further increase in price is possible if the support at $0.082 remains steady at its position.

News Source

Advertisement
Continue Reading

Tron

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance

Published

on

  • Tron price goes well clear of 20 and 50-day moving averages
  • Price rose again after a minor setback yesterday and continues to test $0.105 resistance
  • Bullish trend set to continue over the short-term

Tron price analysis confirms another positive day for the token, as price came back from a minor decline yesterday to go back up to $0.095 on the intra-day trade. TRX stays well clear of resistance point at $0.105, but continues to consolidate momentum to find a way past the illusive $0.1 mark. Trading volume also went up around 1 percent for the token, as it creates buyer interest after making the BTTC announcement in September. The coin is set to continue consolidation of buyer interest over the next few days, and attempt to go past the $0.1 mark.

The larger cryptocurrency market showed trends similar to Tron, exhibiting minor increments on the day trade. Bitcoin rose up to $49,000 after a 2.5 percent increment, whereas Ethereum sits just below $3,500 with a 1 percent rise. Among Altcoins, Cardano and Dogecoin made minor jumps to sit at $2.29 and $0.219, respectively, while Ripple rose almost 4 percent to consolidate above $1.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 1

TRX/USD 24-hour chart: Bullish Hammer pattern forms as price continues to grow

On the 24-hour chart for Tron price analysis, a Bullish Hammer pattern can be seen forming after yesterday’s price action turned into the reds, only for buyers to come in late into the market and re-initiate the positive run. Price went as low as $0.092, to be reversed up to $0.096 today, recording a weekly high for TRX. Price can also be seen moving clear of the 20 and 50-day simple moving averages (SMAs), showing real promise in the current run. The Relative Strength Index (RSI) shows a strong value of 52 as well, suggesting there is adequate buying market for the token in current trend, with room for more.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 2
Tron price analysis: 24-hour chart. Source: Trading View

TRX/USD 4-hour chart: Positive trend reflects with a healthy RSI

The 4-hour chart for TRX/USD pair also shows healthy signs for the token. Price has cleared the 20-day exponential moving average (EMA) and is looking ahead to the $0.1 mark. The RSI value of 62 presents a healthy valuation for TRX, suggesting there is just about the right buying interest. Over the next 4 hours, price is expected to resist any major change, but a change in trend may take place if the RSI continues to rise and sellers take advantage.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 3
Tron price analysis: 4-hour chart. Source: Trading View

Tron price analysis: Conclusion

Tron price continues to rise steadily, coming back up after a slight decline yesterday. The resistance point at $0.105 seems a farfetched goal for now, but with gaining momentum and consolidation above the 50-day EMA at $0.096, the token is set to continue the current trend a bit longer. Buyers will look to consolidate price at this point before initiating the next assault, whereas any movement below $0.090 could invalidate the bullish thesis.

News Source

Advertisement
Continue Reading