UPDATE – May 31, 2019
Tron has elegant possibilities in both 2019 and 2020. At the time of publishing this price prediction the ambitious project was changing hands at $0.024. However, in the last several weeks we have seen the cryptocurrency market enter a bullish phase. In fact, the bullish momentum has had investors and experts believing that this is the beginning of a parabolic rise like the one in 2017. Some experts believe that the correction will not only rise to all-time high levels but create new impressive highs by the end of 2020.
In the above prediction we predicted that Tron will rise to $0.08 by the end of 2019. However, according to the state of the market, we will adjust this prediction to $0.1 by the end of 2019. The broad-based bullish phase coupled with expected key announcements for both Tron and BitTorrent (BTT) make $0.1 target quite conservative. It is essential to note that our prediction of Tron hitting $0.2 by the end of 2020 still stands but a correction to $0.4 is still possible (with caution of acute fluctuations).
- Tron is now a worthy competitor to Ethereum following the mainnet launch in 2018.
- Technical analysis place Tron in a bullish phase both in the long-term and short-term.
Let us shed some light on the most asked question we get about Tron- it’s the Tron price prediction.
All ardent followers of the cryptocurrency market would agree that Tron (TRX) is one of the most ambitious projects in the industry. The project has come from a state where it had few if not non-existent use cases to a point that it sees itself as a worthy competitor of the largest altcoin Ethereum (ETH). Indeed, one would say Tron is the perfect example of ‘fake it until you make it.” That’s why predicting the value of Tron has become even more important to us.
Theatrics aside, Tron is currently ranked as the 11th largest digital asset on the market having a market capitalization of $1.5 billion. In the last 24-hours, the data on CoinMarketCap shows the crypto having a trading volume of $636 million. Although Tron has a total supply of 99,281,283,754 TRX only 66,682,072,191 TRX tokens are currently in circulation.
Tron is listed on most of the leading cryptocurrency exchange platforms including the largest Binance. Other platforms that support Tron include OKEx, HitBTC, Huobi, CoinBene, Bitrue, Upbit, IDAX, Gate.io, Bittrex and Bitfinex among many others.
In this article, we try to give our esteemed readers an overview of the Tron cryptocurrency project, past and future performance, the future of the project, predictions as well as the FAQs section where you can quickly equip yourself with information regarding Tron.
- Tron price prediction 2019
- Tron price prediction 2020
- Tron price prediction 5 years
- Tron 2018 in a nutshell
- Has Tron found a bottom yet?
- The future of Tron
- Tron technical analysis
- Tron project overview
- Tron wallet
Live Tron Price:
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Tron Price Prediction 2019
Price prediction is mostly based on the state of the project at present and how it has performed in the past. Tron recently hit 2.7 million accounts registered on the network (setting a new record). The last three months have seen Tron grow consistently in the number of users. On several occasions, Tron has led the industry in terms of having the largest daily onchain volume and daily transactions. The number of dApps on the platform recently hit 400 although it is still far from the 2019 target at 2,000.
The entire cryptocurrency market extended the crypto winter into 2019 where digital assets trimmed the gains achieved in December 2018 massively. The fall in prices across the board was mainly attributed to investors taking a back seat following the extended bearish pressure. Bitcoin championed rally failed to revive the altcoins as it was expected until we had a breakout at the beginning of April.
Our prediction for Tron in 2019 places TRX at $0.08 at the end of 2019. Besides, Tron will embark on an incredible journey of breaking barriers to trade between $0.05 and $0.07 in the second and third quarters of the year. The network intends to sign several strategic partnerships including the rumored partnership with Liverpool Football Club. This coupled with increased development in terms of boosting privacy, security and privacy will continue to attract investors’ attention.
Tron Price Prediction 2020
Although Tron is trading at $0.024 following a 2% loss in the last 24 hours, the token is predicted to hit $0.2 by the end of 2020. It is also good to note that other experts on the market place TRX between $0.05 and $0.08 by the end of 2020 (prediction by TradingBeasts).
Towards the end of 2020, a bull rally will commence around $0.21 and $0.30 giving way for a bullish parabolic move like the one experienced in December 2017. on the other hand, Tron will exchange at $0.4 in 2020 however, investors should expect huge fluctuations this year.
Tron Price Prediction 5 years
Tron is expected to spark institutional investors in 2020 especially with the plan of turning TRX into an institution grade token. Many organizations are expected to embrace the blockchain technology this year in turn increase Tron (TRX) acceptance supported by increasing dApps. Predictions suggest that an investment in TRX at present will have an RoI of 1,536.75% by 2023 which means that TRX will likely to be trading at $0.54 in the same year.
Tron 2018 in a Nutshell
2018 was an incredible year for Tron as well the company’s issued token TRX. Besides, sticking to their roadmap, the network achieved various milestone that placed it on the global map and in direct competition with other similar platforms like Ethereum, EOS, and NEO. Investors expected Tron to deliver and the network outperformed itself.
At some point last year, Tron market share increased significantly pushing it into the top ten cryptocurrencies by market capitalization. Tron Foundation also released the mainnet which allowed Tron to transfer TRX tokens from Ethereum to its own protocol. The network then elected Super Representatives to ensure that the decentralization of the network was guaranteed. Moreover, 2018 is the year that Tron acquired the file-sharing platform, BitTorrent.
The mainnet launch elevated Tron to the level of Ethereum as a decentralized applications (dApps) building platform. As an independent platform, Tron blockchain is used to verify transactions while utilizing what is referred to as non-disruptive Proof-of-Authority consensus algorithm. Another significant achievement for Tron in 2018 was the groundbreaking partnership with PornHub; the leading website for adult content with more than 120 million users on a daily basis. Still, in 2018, the Tron community witnessed the token burns, Super Representative elections, and the incredible Project Atlas.
Chart Source: Bitcoin Exchange Guide
Has Tron Found a Bottom Yet?
Cryptocurrencies in 2019 including Tron seem to have found a significant support bringing to an end the crypto winter that dominated the market throughout 2018. Looking at TRX/USD trading pair chart, we see that the month-over-month declines in 2018 seem to have found support at $0.011. Tron has since corrected from this level to trade highs of 0.0377 but retraced over time to the current $0.0244. On the upside, gains are strongly capped at $0.0400 with sideways trading expected in a couple of months. Therefore, it is true to say that Tron hit a bottom and is patiently waiting for a breakout.
TRX/USD daily chart
Tron price Prediction Chart source: Tradingview
The Future of Tron
Tron is a project that many love to hate. However, it is factual that it has a very vibrant community that is mainly kept active and engaged by Tron’s founder Justin Sun. Sun has an interesting marketing flair around him. His marketing skills can make experienced marketing expert envious. However, the same outspokenness has proved detrimental to the project like the direct attacks between Sun and Ethereum founder Vitalik Buterin.
According to ZyCrypto, the future of Tron is bleak unless the network changes tactic in the near future. Take, for instance, reports say that 90% of assets are the channel to Tron Foundation during distribution while a meager amount of coins are set aside for future developments.
Nevertheless, as per the fundamentals, Tron future is still bright and could get brighter. Of course, there is no perfect team and the people behind the project have proved to investors that they can deliver before and nothing will stop them from doing so again.
You might also be interested in Tron MainNet Launch: Leaving No Stone Unturned to Become a Powerful Cryptocurrency
Tron Price Analysis
Let’s take a closer look at the technical levels displayed by this ambitious cryptocurrency token. The 4-hour chart shows Tron being not only a strong rebounder but also has the potential to recover to the highs achieved in April. Following the elongated consolidation phase, green shoots began sprouting across the market. Tron alongside other digital assets pulled above 200 Simple Moving Average (SMA) marking the beginning of the leg formation for the bull rally that loomed. Correction above the range resistance at $0.0248 was the breakout point that Tron required to scale the levels above $0.0300 and even test the hurdle at $0.0320.
Tron TRX/USD 4-hour Chart
Tron Price prediction Chart source: Tradingview
Failure to break above $0.3200 allowed the battered bears to return for revenge a move that saw Tron lose a huge chunk of the gains accrued in April. The support at $0.0260 finally caved in due to bear pressure while the drop below the 200 SMA increased the bear influence on the market resulting in a further drop below the 23.6% Fibonacci level taken between the last drop from $0.02786 to a low of $0.0221.
April declines found balance at the swing low before rising again to usher in the new month of May. Although Tron has been bullish in the past couple of days, the crypto is back to trading in the resistance range before the surge in April began. The upside is limited by both the range resistance at $0.0248 and the 23.6% Fib level. We have seen a break above the trendline resistance but the 50% Fib level short-term support is still in danger.
Technically, Tron is bullish in the short-term but it lacks support and a catalyst to sustain growth towards the April highs. The RSI is above average and even moving higher above the rising trendline. It is essential that Tron pulls above the 200 SMA at $0.2600 to encourage more buyers to take positions in order to see a significant recovery that could even hit $0.035 and $0.0400 in the medium-term (before end of June).
Tron Key Technical Indicators
RSI 4-hour: 58.79
200 SMA 4-hour: 0.0260
Short-term trend: Bullish
Long-term trend: Bullish
Key support areas: $0.0240, $0.0230, $0.02192 and $0.0210.
Key resistance zones: $0.0260, 0.02742 and $0.0320.
Tron Price Frequently Asked Questions:
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Tron Project Overview
Tron describes itself as the largest decentralized platform in the cryptocurrency world. The website says that its high throughput is as a result of improving the transactions per second (TPS) of the network “which has surpassed Bitcoin and Ethereum, to a daily-use practical degree.” Tron also claims to be one of the most scalable networks in the industry in a way that applications are allocated diverse deployment methods on Tron due to the extremely scalable and effective smart contracts. Moreover, the platform has the ability to support colossal volumes of users.
Additional details on the Tron website explain that the network is more reliable in terms of network structure “user asset, intrinsic value and a higher degree of decentralization consensus come with an improve rewards distribution mechanism.”
In terms of performance, TRX consistently handles 2,000 transactions per second (TPS) around the clock. Tron’s TPS dwarfs Ethereum’s 25 TPS, at the same time, it is almost gigantic when compared to Bitcoin’s transactions per second which range between 3 – 6.
A crypto wallet is an essential part of any cryptocurrency network because it connects the users to the blockchain. It allows sending, receiving and storing of digital tokens or coins in addition to being an integral part of decentralized applications (DApps).
Tron has several types and versions of wallets including the newly launched TronLink. The wallet is mainly used in the access of DApps on the Tron protocol. It can also be used to send and receive TRX, TRC10 and TRC20 tokens. Users who want to use TronLink are required to download and install a browser extension supported by Chrome. Thereafter, they can create a new wallet and remember to keep the private keys secure.
TronLink user interface is very simple and precise in that it shows the account address, balance, bandwidth, energy as well as the number of tokens stored.
Tron wallet, on the other hand, comes in handy for today’s user who prefers to use his/her smartphone to do almost everything as long as it is internet based. Tron Wallet is among the most advanced wallets in the industry. It comes as complete package giving the user the ability to transfer cryptos, show the history of the transacting account, connect to DApps in addition to supporting fundraisers and Super Representative voting. This wallet has support for TRX and other tokens running on Tron’s mainnet. Moreover, various platforms are supported including the web, mobile, and desktop.
It is essential to do your own research before buying any cryptocurrencies because no one can predict the price accurately. This article is meant to help form a basis for your decision to invest in Tron. However, additional research will go a long way in helping you make the right judgment.