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Tron’s Price Analysis and Prediction for this week

by Pragati Shrivastava
, Tron’s Price Analysis and Prediction for this week

TRON is currently trading at $0.0158 and has a market capitalization of $1 Billion. Tron has been losing its market value since the price hit the $0.0152 level. It is the 14th largest cryptocurrency and its price started descending after a massive sell-off in the cryptocurrency market.

In July 2019, TRON announced its $20 Million buy-back plan. TRON Foundation’s developers explained that the coins were needed to speed up the network’s development. However, the buyback did little to support the coin’s price. It hit a peak of $0.0161 on September 3 and has been on a downward slide ever since.

TRON is a popular cryptocurrency and has established a strong reputation for itself. The circulating supply of the coin is noted to be 66,682,072,191 TRX and its ROI has reached 672.90%. The highest recorded value of TRX in the last 90-days was $0.040. This week, Tron may break its slump and cross $0.020 by the end of the month. We are bullish on TRX’s long term position and it may reflect in the price by the end of the week.

, Tron’s Price Analysis and Prediction for this week

TRX showed some signs of recovery on September 2, 2019 and hit $0.0162, however it has come down again to $0.0158. The price action of TRON does not show signs of price reversal as the bullish trends were resisted by the 12-day EMA. The market is fluctuating within a tight range of $0.0145 and $0.016 demand zones.

If Tron breaks the $0.0145 demand zone, the price will further depreciate. Nevertheless, if the bulls break the $0.016 demand zone, the price will see an upward trend. However, if the price doesn’t cross the resistance level, it will continue its lateral movement.

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Cryptocurrency News Highlights: Week of September 15, 2019 - Crypto Trader News September 15, 2019 - 11:59 am

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