Tron (TRX) is a well-known digital currency that has attracted a lot of attention from investors. In this Tron price prediction, we will analyze its price behavior, noteworthy happenings, and market opinions. It has a market cap of about $5,144,335,329 and a circulating supply of 71.66 billion. There is a total supply of over 100 billion TRON. In the last 24 hours, $998,862,640 worth of the asset has been traded.
Tron Price Prediction: Technical Analysis
Tron, like every other cryptocurrency, has seen some good times this year. It has also lost a significant percentage of its gains as a result of the ongoing general market pullback. The TRX price has dropped from the year high of $0.1646 to $0.07162, and the market is not showing any strong recovery sign yet. However, we will look at some technical indicators to see what is likely to happen in the short and long run.
The price growth has slowed down significantly, and Tron now trades in a very tight range. This could be a consolidation, because the volatility has reduced, as shown by the Bollinger Bands in the figure below. The wider the space between the bands (the area shaded blue), the more the volatility.
This means that for traders, the market is very uneventful at the moment. The 50 and 200 moving averages, which are critical in determining market direction, show that there could be a complete trend reversal to the bearish if this trend continues with a slow but consistent drop in the price. As shown in the following chart, the 50 MA is going lower towards the 200MA, suggesting that the price is not sustaining a significant upward move. At the moment, the 200 MA still serves as support where the price has bounced off on its way down. If it continues to serve as support, then there is a chance the price will bounce upward from there, following the consolidation.
In our Tron price prediction, we will sonsider another critical indicator, the relative strength index, which shows the change in trend that the price of Tron can drop a little further, as the reading is currently at 38. This usually has to reach 30 for a change in trend to the upside, although this is not always the case.
The following are critical support and resistance levels that traders of this asset should have in mind as they trade, according to Walletinvestor:
- Resistance Level (R3): 0.0836;
- Resistance Level (R2): 0.0811;
- Resistance Level (R1): 0.0764;
- Pivot Point: 0.0739;
- Support Level (S1): 0.0692;
- Support Level (S2): 0.0667;
- Support Level (S3): 0.0621.
Tron Price prediction: Market Opinions
To get a better understanding of this TRX price prediction, we have brought data from the top price prediction websites for June and for the rest of 2021.
Tron Price Forecast for June
Walletinvestor expects the price of Tron to drop, at least over the next 14 days. Their price prediction says that the price may drop as low as $0.06030 during this period. The maximum price is expected to be $0.0761.
30rates‘s Tron price prediction for June is not entirely bearish, but it isn’t so bullish either. Their price prediction for the end of the month is $0.064. The maximum expected price for the month is $0.068, while the least expected is $0.060.
This is one website that is quite bullish about Tron price in June. Their Tron price prediction places the average price of the coin at $0.12212885 for the month of June. According to their calculations, this will be an increase of 67.07%. It will be one of the months with the highest average price.
|Month||Average Price ($)||Change (%)|
|Jun 2021||$0.12039529 USD||67.07 %|
|Jul 2021||$0.09892246 USD||37.28 %|
|Aug 2021||$0.11042620 USD||53.24 %|
|Sep 2021||$0.10936085 USD||51.76 %|
|Oct 2021||$0.11545857 USD||60.22 %|
|Nov 2021||$0.11944350 USD||65.75 %|
|Dec 2021||$0.10828166 USD||50.26 %|
Tron Price Forecast for the Rest of the Year
For the rest of 2021, Tradingbeasts expects Tron to reach a maximum price of $0.1215452. Their TRX price prediction says that the minimum price for the year will be $0.0760585. There is to be a consistent increase going forward based on this prediction.
Longforecast expects a consistent increase in the price of Tron for the rest of 2021. This will bring it to reach a maximum of $0.101 in December, while the minimum expected price of $0.048 could be reached between July and August, according to their website.
Previsionibitcoin is quite bullish about Tron. The TRX price prediction for the rest of the year states that the price could go as high as $0.2 by December 2021. The predicted price of $0.11 for July will be the minimum going forward.
Latest News and Happenings Concerning Tron
The Tron ecosystem is fast developing. It already serves as a faster and cheaper alternative for USDT and DeFi transactions than Ethereum. This could be why the number of accounts and transactions both continue to reach new highs. The current number of accounts exceeds 27 million, while the number of transactions is almost 2 million, but there is a bigger development.
BSCPad, one of the first decentralized Initial DEX Offering (IDO) on the BSC network, is partnering with Tron to build TRONPAD. This will be the first IDO built on the Tron blockchain. Tron is teaming up with BSCPad because it has some of the brightest minds working on the project.
BSCPad has sustained a culture of fairness in its launch of crypto projects and liquidity distribution. This is in addition to its being a repository of talents in the development of projects. Tron intends to replicate these virtues with TRONPAD and provide a level playing field for investors to benefit from projects they invest in.
Tron Price Prediction: Verdict
Tron is currently down, just like other cryptocurrencies. The concern is that it is uncertain how long this will last. The Tron price prediction shows that the price could get weaker before a bounce, which largely depends on how the general market performs in the short term. It is hopeful, though, that the price could recover when the market resumes the upward move as predicted by Tron CEO himself.
Justin Sun of TRON (TRX) bought 100 Coins at An Average USD price of 47,627.03 Bitcoin
Justin Sun is optimistic that active and new accounts hit new ATH today. TRON network is very stable in the extreme market condition and attracting more users every day.
Also stated, To match the CEO of El Salvador Nayib Bukelee’s offer, I just bought the dip – 100 coins at an average USD price of 47,627.03 Bitcoin.
Tron community member was like: What about your own coin tron trx? How about buying that? That’s down too. Try to do something about that, that hasn’t done anything for a long time. All the hype but never any movement in it.
Otherwise activities in the TRON foundation are progressing.
Tron Foundation expressed: Dear TRONICS, Our API function update has been completed. Our data on Coin Market Cap and other platforms have been updated and synchronised in real-time.
The circulating supply seems to increase suddenly on Coin Market Cap due to the update delay rather than caused by sudden transactions.
Coin Market Cap is one of the top crypto tracker websites globally, and we will cooperate more closely to ensure to provide all TRONICS with more timely and accurate data information.
Community Response: Still a TRONIC, but very disappointed. I can’t believe more people are not. This has cut the gains possibilities to a fraction. TRON usually makes things right so I’m looking forward to that, but one foots out the door.
It looks correct Chris I never relied on CMC always monitored Tron Scan data supply circulation and it is correct. CMC had old data.
So now max supply is unknown? We have an additional 30 billion circulating no warning nothing.
How do you say this? And what is the interpretation of 40% + market for TRX?
Otherwise, The TRX and NFT Holders Airdrop event has been extended to 6th Dec. Thus, it is never too late to join.
Right after the TRX and NFT Holders Airdrop event was launched, more and more attention were drawn. But many users were too late to join or felt hard to figure out our rules. So, we decide to extend the end of the event to 6th Dec, 2021.
Community was like, what is the fun of having NFT if it’s value is near to zero?
TRON SCAN stated, the average daily transfer volume of stable coins on TRON network reached $9,677,999,233 (11.26-12.02) this week. Relying on the strong alliance of 4 TRON -based stable coins USDT, USDJ, TUSD and USDC. TRON’s ecosystem is continuously increasing.
Tron Builds First-Ever Ecological Complex in Cryptovoxels Metaverse
An ecosystem of three buildings and a temple has been built in Cryptovoxels metaverse.
In collaboration with MetaEstate, a leading digital real estate platform, Tron Foundation develops an ecological complex that includes the foundation’s headquarters, digital art museum and convention club.
Tron raises bets on metaverses, builds ecological complex in Cryptovoxels
According to the official announcement shared by the Tron Foundation, it released the first-ever ecological complex in the digital metaverse of Cryptovoxels.
🔥The Ecological Complex of TRON Has Been Completed in Cryptovoxels!
💎Discover Cryptovoxels online, win $2,000 NFT Tokens & 100 precious Arts NFT.
RT with #TRONCryptovoxels, @ 3 friends
Join Discord: https://t.co/hqXieOKzNO
🌇We will select 100 lucky guests pic.twitter.com/Q5RktIwkeu— APENFT (@apenftorg) November 26, 2021
As such, TRON becomes the third company after SuperRare and SpaceX to announce the creation of its complex in the metaverse. The TRON complex refers to three adjacent buildings that are located on the east coast of Miami. It includes Tron Headquarters, the BT Convention Club and APENFT Digital Art Museum.
Also, the complex includes the SUN temple situated on the opposite side of the coastal landscape. TRON headquarters acts as both a conceptual art museum and displays hard capabilities together with a soft artistic comprehensive output.
Tron Headquarters (TRON ECO HQ) has three floors, including an atrium with an eco-brand display of the Tron Network, a public office area with meeting rooms, and independent offices with large outdoor terraces.
APENFT art museum is a pioneering digital art exhibition in the metaverse
BT Convention club has two levels. The first one has a reception area and large conference hall. On the second floor is a large open office and theatre-like display space for meetings and conferences.
APENFT art museum is the first-ever cultural institution that exists in the metaverse only. It is dedicated to digital art and non-fungible tokens as its technical basis.
APENFT demonstrates the artwork of prominent digital artists alongside the paintings of winners of the “Second Life” public contest.
The museum also has two floors: the first floor is a reception area accompanied by an open concert hall and artwork display area. The displays on the first floor are adjustable: they can be customized according to different needs.
Also, the second floor has a painting atrium as a symbol of Tron’s ability to onboard new-gen digital artists and their paintings. The second floor also has indoor and outdoor exhibition halls for early-stage artists.
APENFT is among the largest and most influential players on the NFTs market. Associated with Tron Foundation, it performed an unmatched token burn event in July.
Its investing strategy is curated by digital art veteran Barrett Wissman, who joined APENFT as Chief Investment Advisor.
TRON price kick-starts 20% rally as TRX shatters vital trend line
- TRON price breached through a declining trend line on November 29, signaling the start of a new uptrend.
- A minor downswing to $0.09 is likely before TRX rallies to $0.109.
- A daily close below the $0.082 to $0.087 demand zone will invalidate the bullish thesis.
TRON price experienced a two-week downswing that ended recently with an uptick in buying pressure. This move suggests that TRX has kick-started an uptrend and is likely to continue higher.
TRON price looks to set up higher highs
TRON price has corrected 30% over the past two weeks and set a swing low at $0.089. Connecting the swing highs between November 22 and November 29 using a trend line reveals a bear trend line and a declining resistance level. A potential increase in buying pressure reversed the trend and broke this hurdle, propelling TRX by 7.7% to where it currently trades – $0.096. Going forward, investors can expect TRON to head lower and retest the $0.092 support level before firmly launching.
The immediate resistance level at $0.10 is the first hurdle TRX will encounter after a 10% upswing. Clearing this barrier will allow TRON price to retest the 50% Fibonacci retracement level at $0.109. This move will indicate a 20% upswing from the current position and is likely where the upswing will face a decisive moment.
If the buying pressure continues to increase, investors can expect TRON price to retest the 62% Fibonacci retracement level at $0.11 or the following one at $0.12.
TRX/USDT 4-hour chart
TRON price needs to stay above the $0.92 support level, a failure to do so will indicate a lack of buying pressure and push TRX down to the daily demand zone, ranging from $0.082 to $0.087.
As long as TRX stays above this area of support, buyers can make a comeback. However, a daily close below $0.082 will create a lower low and invalidate the bullish thesis.