CryptocurrencyPrice Analysis

TRON Price Analysis: The Price Rally May Hit $0.030

TRON came in the markets of digital assets with an underlying project that aims to develop an internet system based on a decentralized network and to present free global entertainment pool. The developers are free to create smart contracts and applications based on decentralization with options of publication as well as storage of data.

TRON News and Events

The developmental team behinds the TRON is very professional and stays active all the time. The SUN network is working very efficiently on DAppChain as Justin Sun tweeted recently about its latest development:

#DAppChain contains 3 main components for cross-chain interaction. And cross-chain interaction can be classified as 3 main type: TRC20/TRC721 contract mapping, asset deposit, and asset withdraw.

The weekly report of TRON clearly demonstrates futuristic pavement as shared by the founder of the coin.

“c#TRON Weekly Report

  • Completed code migration for part of the transaction module.
  • #SUNNetwork code V1.0 officially launched.
  • Total number of #TRON real time accounts have surpassed 3.5M.#TRX oin on Twitter.”

TRON Price  Statistical Data

Market Cap: $1,208,210,771 USD and 112,656 BTC.

24-hours Volume: $408,857,464 USD and 38,123 BTC.

Tokens Supply: 66,682,072,191 TRX tokens are circulating out of total 99,281,283,754 TRX.

Price Value of TRON

The rate of TRON at the time of writing is $0.018119 USD and 0.00000169 BTC with a 2.52% increase in 24 hours.

TRON Price  Comparison

As all the altcoins are dumping with the rise of bitcoin from previous months, the trend line of TRON is also following the behavior of crypto markets. The value dropped from $0.029 on 22nd July to the mark of $0.019 on 9th August which decreased further to obtain the figure of $0.016 on 16th August. A slight recovery is noticed in the past four days and attained a value of $0.018.

TRON Price Prediction

After doing the technical analysis, the price may go up to the mark of $0.030 after breaking the two strong resistance levels of $0.021 and $0.029.There are three resistance levels standing at the positions which are as follows:

First Resistance level: 0.0175

Second Resistance level: 0.0181

Third Resistance level: 0.0185

Conclusion

After a long term bearish trend, a slight recovery in the rate of the coin is seen. The price may increase breaking the two strong resistance levels.

What is your prediction about the price of token? Share your views in the comment box.

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Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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