TRON has one of the best uptrends in the cryptocurrency market. The prices have not only doubled in the last month, the price development also looks very stable. When a particular cryptocurrency shoots up in a short period of time, there is usually a tough correction soon after. This is not the case with Tron as prices have increased slightly but surely over the course of about 40 days. Currently, TRX has broken the 10 cent resistance and it looks like it is heading to even higher levels. Can I still buy TRX?
What is Tron (TRX)?
Tron is a blockchain that aims to reduce the processing time of transactions. While Bitcoin and Ethereum can process 6 and 25 transactions per second, Tron claims they can process 2,000 transactions per second (TPS). It’s a decentralized platform that hosts content sharing and entertainment. In 2018, Tron acquired the famous BitTorrent, a well-known website for file exchange.
In their list of goals, Tron wants to build an all-in-one file sharing platform through financial rewards and allow content creators (especially in the games industry) to monetize their work. They are also some of the most popular blockchains for hosting decentralized apps (DApps).
TRON (TRX) has a healthy uptrend compared to BTC & Co
Unlike Bitcoin and other cryptos, TRON (TRX) neither suddenly increased prices nor experienced a sudden crash. Its price action was rather mature and had steady growth. While the crypto market also grew within the same period, it also adapted a lot. For TRX, the hardest adjustment was only 15%, while the upward movement was more than 100%.
Fig.1 TRX / USD 1-day chart shows the massive uptrend of TRX – TradingView
We also previously warned of the importance of purchasing TRON beforehand. We at CryptoTicker like the project and see the great potential of this project.
Tron Price Prediction – What will happen to the price of TRON?
After looking at how XRP and ADA managed to hit a $ 1 per coin valuation, many people expect the same for TRON. In fact, there are around 71.6 billion tokens in circulation on TRX, while XRP and ADA have 46.5 and 32 billion, respectively. That is almost double the offer. For that, we can expect a long-term price of maybe half that from ADA or the same XRP. With this analysis, TRX can easily reach $ 1.
On the flip side, TRX prices have passed the $ 10 mark and we are currently watching $ 15. This corresponds to a further 50% price increase if you buy at current prices. But smart traders always make the worst when investing and therefore set reasonable stop losses. For TRX, that level would be around the 9 cent mark, which is strong support.
Fig 2 TRX / USD 1-day chart with the target price range for TRX – TradingView