- Bullish TRON price prediction 2021 is $0.060.
- Price prediction for TRX before 2020 end is up to $0.037.
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.
TRON Price Analysis 2020
TRON continues to be one of the promising digital assets in the crypto world. Presently, TRON ranks as one of the top 20 cryptocurrencies in CoinGecko. Its recent trading price has a growth rate of +9.5% in the past 7 days. Would this be enough for TRON to maintain its uptrend position until the year ends? Let us head to the chart in this TRON price analysis to find out.
Based on the graph above, TRX has successfully maintained its uptrend position in the past week. Currently, TRX trades a high price of $0.032 above the Arnaud Legoux Moving Averages (ALMA) indicator. It has a growth rate of +21.2% in the last 30 days. If this goes on, the crypto might be able to break its resistance level of $0.034, a bullish level in favor of the crypto.
However, if TRX prices fall under ALMA, the crypto price might experience a downtrend signal. This bearish signal could trigger the cost of the crypto to plummet for as low as $0.028. In this case, the bulls must convince enough investors in the platform to aid them in sustaining their uptrend position.
Otherwise, the bears might gain an advantage over the bulls and pull the crypto price deep enough to touch its support level of $0.027, a level that can cause FUD among investors.
Meanwhile, the moving average convergence/divergence (MACD) remains to be on top of the signal indicator. This is an indication that the market is still in favor of TRX. Therefore, the bulls can still continue their bullish escapade in the days to come.
In this part of the graph above, TRX displays how it manages to recover from its bearish dip last December 9. From the bearish price of $0.027, TRX manages to regain composure and climb back to its bullish position.
Recently, TRX trades at a bullish price of $0.031 with a growth rate of +18.31% from its bearish dip in the last 12 days. If this continues, the price of the crypto could keep its bullish trend and go beyond $0.035 before the year ends.
TRON Price Prediction 2021
So far, TRON has successfully defended its uptrend position against the market volatility in the past months. But will this be enough for TRON to become a profitable cryptocurrency in 2021? Let us find out in this TRON price prediction 2021.
The graph above shows the bullish trend performed by the crypto in the past months of the year. It also demonstrates the recovery of TRX from its $0.00805 price decline in March to its recent price of $0.031 with a growth rate of almost +400%.
This great performance of TRX witnessed in the crypto space provides bulls a greater advantage over the bears. As a result, the market capitalization of TRX boosted to over $2 billion.
Based on the Fibonacci retracement indicator, the performance of TRX is heading towards a bullish position. As indicated above, the price of the crypto trades above the Fibonacci level of 0.5. This means that the crypto is still in a bullish position. In this event, the bulls must take the opportunity to convince more investors in the platform to support its uptrend signal further.
However, if the crypto fails to break its Fibonacci resistance level 0.382, the TRX price might slide below $0.027. It could even fall as low as $0.024 if the bears gain the upper hand against the bulls.
In this case, the crypto must be able to regain its composure and climb back again to its bullish position above the Fibonacci level 0.382. Otherwise, the bears might turn the support level of the bulls to its new resistance level.
Meanwhile, the relative strength index (RSI) of the crypto points at level 49.61. This means that the crypto is neither oversold nor overbought. In this event, the crypto must take the opportunity to rally its price in breaking the resistance level of $0.034.
If it does, the price of the crypto could go beyond $0.035 to 0.037 before 2020 ends. It could even reach $0.060 in 2021 if the investors continue to trust TRX.
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.