MarketPredictionPrice Analysis

TRON Price Prediction 2021 — Will Trx hit 1$ in 2021?

  • Bullish TRX price prediction ranges from $0.14 to $0.28.
  • TRX price might also reach $1 soon.
  • TRX bearish market price prediction for 2021 is $0.023.

This TRON (TRX) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our TRX price analysis and prediction.

TRON continues to be one of the most active protocols in the crypto space. In the past few months, TRON has built strong partnerships and projects in the crypto industry. As a result, the crypto manages to remain one of the cryptocurrency with a market capitalization over $2 billion.

TRON remains dedicated to providing a decentralized and boundary-free internet. Its strong relationship with BitTorrent enables TRX users to directly access applications, content, and media of the network.

Lately, BitTorrent is gearing to launch its DLive protocol, the final evolution of peer-to-peer live streaming technology. Hence, TRON expects a mass adoption of its TRX tokens.

Now that we already know some of TRON’s achievements in the past months, would TRON be a profitable investment in 2021? Let’s find out in this CoinQuora TRON Price Analysis and Price Prediction 2021. But before that, let us first know what is TRON.

What Is TRON?

TRON (TRX) is the native cryptocurrency in the TRON network. Based in Singapore, TRON is led by CEO Justin Sun. The network aims to create a decentralized entertainment and content sharing network. In the TRON ecosystem, anyone can host their own content on the blockchain network more efficiently and cost-effectively.

The TRON network has its own mainnet. As a result, TRON is able to set its own rules and regulations that it deems necessary for the network. When it comes to TRON’s protocol, different decentralized applications (DApps) can run through its smart contract. Its latest DApp achievement is the launching of the DLive protocol of its BitTorrent partner.

Now that we already know what is TRON, let us proceed to our TRON price analysis.

TRX Current Market Status

As of the time of writing this Tron price analysis, TRX trades at $0.12 with a 24-hour trading volume of $2,658,132,422. The price of TRX has decreased by 3.14% in the last 24 hours.

Furthermore, TRX has a current circulating supply of 71,659,657,369 TRX. Currently, the top cryptocurrency exchanges for TRX are Binance, Huobi Global, Bithumb, Gate.io, and many more.

Now, let’s proceed to the next part of this TRX technical analysis for 2021.

TRON Price Analysis 2021

Currently, Tron holds the 19th place on CoinGecko. But will the latest upgrades, developments, and changes in the TRX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this TRX price prediction article.

TRXUSDT chart showing Inverted Cup With Handle pattern
TRX/USDT chart showing Inverted Cup With Handle pattern (Source : TradingView)

Based on the graph above, the chart displays an inverted cup and handle pattern. The pattern represents a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend

As shown above, at the beginning of this month, TRX turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

TRX Relative Strength Index Source TradingView
TRX Relative Strength Index (Source TradingView)

The Relative Strength Index (RSI) is close to 54, which means that TRX is neither overbought nor oversold. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of TRX.

TRX 30-day SMA and 50-day EMA (Source : TradingView)
TRX 30-day SMA and 50-day EMA (Source : TradingView)

Since the start of 2021, TRX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, TRX has a competitive market this 2021.

TRON Price Prediction 2021

The chart below shows that Tron has performed great over the past few days. However, the TRX price has decreased over 0.7% in the last 7 days. If this trend continues, TRX might run along with the bears, breaking its $0.0233 support level and go lower.

TRXUSDT Price Chart Source TradingView
TRX/USDT Price Chart (Source : TradingView)

Conversely, if the investors continue to favor the crypto, the bulls might take over and pull TRX from its downtrend position. In simpler terms, the price of TRX might increase to almost $0.28, a bullish signal.

Meanwhile, our long-term TRX price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.3 this year. However, that will only happen if it breaks many previous psychological resistances.

Conclusion

TRON has a bright future ahead of it in 2021. With the ongoing developments happening within the TRX ecosystem, as well as in the overall crypto market, we may see TRX reach new heights.

Bullish TRX price prediction 2021 is $0.28. As said above, it may even reach $1 if investors have decided that TRX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

How to buy TRX Coins?

Users can obtain TRX coins by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.

Will TRX surpass its current ATH?

TRX is a good investment in 2021. Moreover, TRX has a high possibility of surpassing its current ATH at about $0.3 this year.

Can TRX reach $1 soon?

Yes, it’s very much possible that TRX might reach $1 in the near future as per the current bullish trend.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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