TRON [TRX] technical analysis and price prediction 2018, 2020

TRON [TRX] technical analysis and price prediction 2018, 2020 25103
Analysis
Aakash Athawasya
Oct 13, 2018 at 9:30 AM

The crypto-markets have been very bleak for the past few days. Since Bitcoin [BTC] dropped below its major support level of $6,400 the collective market dipped below the $200 billion mark on October 11, sending major coins into a tumble. The market cap has since pushed up and it has risen above the $200 billion mark at 0600 UTC on Friday and it continues to move upwards, standing at $201.83 billion currently. TRON [TRX] seems to be making the biggest strides of the major coins, with its increase heading likely into double-digit figures as the day progresses.

TRX/USD

The key support level for TRON was placed at $0.02159 which the coin dipped past at 2000 UTC on Thursday on the way to reaching its lowest point since late September. A new key resistance level began forming post the bearish move at $0.02351 which the coin is hovering close to. The MACD line presents a bullish movement, while the 100 EMA indicates that the coin has switched from a downtrend to an uptrend.

Given the increasing price of TRON since Friday morning, investors are increasingly purchasing TRX tokens, as indicated by the RSI, which stands at 59.17. The TRON trading range is $0.0228-$0.0239, with the coin moving towards the higher extreme. At press time TRON had edged up the U.S. dollar by 9.54% and is priced at $0.02344.

TRON [TRX] technical analysis and price prediction 2018, 2020-BCFocus

TRX/BTC

The coin has surged by 9.03% against Bitcoin [BTC], which is recovering. One TRON token is equivalent to 0.00000375 BTC.

Market Capitalization

At 0100 Friday, the market cap of TRON dipped to $1.362 billion, its lowest point this month. The market cap shot up by 13.95% in less than 24 hours to rise to $1.552 billion. Currently, the total TRON capitalization has since fallen by 0.63% to $1.542 billion.

TRON [TRX] technical analysis and price prediction 2018, 2020-BCFocus

TRON [TRX] Price Prediction 2018, 2020

• According to Wallet Investor, the token will likely be valued at $0.002093 in one year. However, the crypto is expected to start the year 2020 trading at a value as high as $0.0486.

• Smartereum has predicted that by December, the value of the digital asset will go up to $3.75. By the end of next year, its price will likely hit $12 and by 2020, the coin is expected to trade at $52.91.

TRON [TRX] Latest Updates

• The Tron Foundation has created a toolset to build the right tools for the developers. This toolset includes the TronGrid, TronBox, TronStudio, and TronWeb. These tools will help developers integrate innovative DApps into the TRON ecosystem with ease.

• Poppy is a new point-of-sale [POS] system developed on the TRON blockchain by Sesameseed, which is also among the network's Super Representatives. In a blog post on Medium, Sesameseed stated that the new system will allow customers to accept TRX and other coins in the ecosystem for making purchases.

• TRON Foundation will collaborate with Binance Blockchain Charity Foundation (BCF) and the United Nations Development Programme (UNDP) to explore the use of blockchain technology to improve social welfare.

See also: TRON [TRX] launches new tool suite to help developers integrate DApps to the ecosystem

See also: TRON Super Representative launches the new crypto payment system

See also: TRON aims to work together with Binance BCF to accelerate massive adoption of blockchain

Image via Shutterstock

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