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Tron Price Prediction – Could 2020 Be the Year of the TRX?

Mon Dec 07, 2020 8:17 am

Hey! you know Tron is one of the most sought after currencies in the crypto world. Before you invest in Tron, Read this complete guide on the Tron coin. What is the future of Tron? Is it safe to invest in Tron? Check out these detailed predictions and forecasts of Tron.

One of the cryptocurrencies boasting wide adoption and utility is Tron. Presently, there are more Decentralized Applications (DApps) on the TRON network than on any other system like Ethereum. As more DApps join the system every now and again, TRON grows its popularity in the crypto ecosystem.

This popularity often begs the question about what the future holds for TRX. Is it a viable project in the long run or just based on “thin air”? Find out with this detailed price prediction.
What is TRON (TRX)?
Tron is a blockchain platform which came into existence in 2017. Justin Sun is the founder, who also previously worked for Ripple. This coin aims to transform and expand the way digital content and publications. Moreover, it is easier to share content with major service providers like YouTube or Facebook as the content creator.

Tron (TRX) is a leading coin by market cap that emanated as an ERC20 token on the Ethereum network. By April 2018, Tron migrated to its own smart computing system. Tron strives to be an Ethereum opponent, meaning its aim is to be a smart contract protocol that can host decentralized apps.

TRON (TRX) Technical Analysis
In September 2017, CoinMarketCap listed Tron at $0.002, with a trading volume of $48,512. The price of Tron was $0.044682 in early January 2018, later the price reached $0.22 on 5 January 2018.

TRON (TRX) Price Prediction 2020
Tron began the year trading around $0.015. There had been a progressive price increase since the first quarter of the year until mid-February. Around February, the price of Tron had touched about $0.025 before the inbound downfall.

Towards the end of Q1 2020, Tron began a price plunge which drove its price down to $0.008. This is however the lowest point attained so far this year.

Into the beginning of the second quarter, around April, prices marched upwards touching $0.015 again. The surge continued into May as prices tried to set major support above the level.

However, a surge beyond the $0.02 level proved abortive as TRX fell below and has been trading between $0.015 and $0.02 level since the beginning of this quarter.

The general price reduction for the end of the year 2020 is $0.15 per TRX. This comes from a variety of predictions that conveniently predict that the long-term TRX market sentiment is overly bullish.

Source: Coinpedia Price Predictions

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