2019 Tron (TRX) Price Analysis and Forecast for 2020 [Key Levels & Trends]
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At first glance, cryptocurrency Tron doesn’t have the task of changing the world we know. But the idea of TRX has enough interest to live — creating a decentralized environment in which users can make and host entertainment content. And, it would seem, the concept sounds twofold, but for almost 2 years now Tron has been living and developing. And what awaits the crypto next? Let's see!
TRX coin
The main coin of Tron — TRX, the total issue of which is 100 billion coins. At present, the capitalization of the altcoin is $2.2 billion. With this indicator, Tron takes the 12th place in the crypto market. More tokens will not be released, one and most of the existing ones are in the hands of Tron developers. This fact raises some doubts in crypto holders ranks. However, Tron has qualitative differences from many cryptocurrencies:
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Scalability.
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High bandwidth.
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Availability.
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Justin Sun.
On the last character, we should put special emphasis. Justin Sun is Tron’s founder and an important figure in the crypto investing world. It’s impossible not to note the marketing ability of Sun, who skillfully promotes Tron in all imaginable and unthinkable ways. We will talk about them separately.
In general, investing in Tron seems like a pretty promising path today. Consider historical price changes, analysis and the impact of other sources on the TRX rate.
Alex DovbnyaHistorical changes in the price of Tron
Analysis and forecast of TRX price should start with a look at the historical data. Tron is a fairly young cryptocurrency, created at the end of 2017, and the network itself was launched only in the middle of 2018. Tron price in the background of all events changed as follows:
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At the time of creation, at the ICO stage, the price was $0.002.
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After the token release, the price rose to $0.05 in December 2017.
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The historical maximum was reached at the beginning of January 2018 and amounted to $0.25 for 1 Tron coin.
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After a while, the price dropped to a value of $0.03-0.04.
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In early May, after the network launch, the price soared to a mark of $0.08, followed by a prolonged fall.
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The minimal Tron price was fixed in December 2018, then the coin is worth $0.011.
Today, after two phases of growth, Tron is trading in the region of $0.033 for one TRX token. The growth of an investing crypto asset cannot be called explosive, but a positive movement is can be observed.
News background
In Tron’s case, the most important thing is playing the news background. Justin Sun is trying in every way to create hype around his brainchild. One of these steps is to purchase the right to dine with the investing legend — Warren Buffett. Sun gave $4.5 million for this opportunity. Even this news increased the price of his crypto.
Later in the summer of 2019, the SUN Network is scheduled to launch, news about which is already actively appearing in many sources. It’s worth noting also one of the latest popular news from Tron. TRX will become the official cryptocurrency to pay at IEOs on the Latoken platform, which should qualitatively affect the liquidity and Tron price.
Yuri MolchanTron analysis and forecast from experts
Tron, like many altcoins, is not explosively popular with experts. Forecasts and analyses collect hundreds, but not thousands of views. However, almost every day you can find interesting thoughts and forecasts about the future of Tron. Here are some of them.
The user Cryptotrader_123 believes that the TRX chart is bullish and predicts explosive growth after the pattern is completed. Following its trend line, growth will continue, but a correction is possible in the near future. However, step by step, Tron will take its own.
According to user the_booty analysis, investing in Tron can be good in marked areas. The user advises to open long positions and keep the crypto. To a greater extent, he predicts an increase in the price of Tron, but key levels in the situation with a fall are also noted.
User SajjadMazroei built his analysis on triangles. In his opinion, a small one appears inside the bigger one. He predicts such developments in the coming months:
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If the small triangle is broken down, the price may drop to $0.026, but then recover to $0.031.
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If TRX breaks up, we can expect a price of $0.04.
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And if the movement is really strong, then it’s possible to conquer the height of $0.055.
We remind you that these are just opinions and you need to understand everything yourself.
Tron price forecast for 2020
We have our own thoughts and forecasts for Tron’s price for the second half of 2019. The technical characteristics of Tron are quite controversial. Oscillator analysis indicates the need to sell existing assets while moving averages indicate a strong buy. We believe that the truth is somewhere in the middle. Both price reduction and growth are possible.
We predict that the decisive factor will be the full launch of SUN Network, which is scheduled for August 10. The upgrade involves solving many problems with the scalability, bandwidth and protection level of dApps.
Analysis of the trend line shows that it is ascending, so you should not expect a noticeable decline in the price of Tron. Before the launch of SUN Network, the price is unlikely to surpass the $0.04 mark, but it’s not worth waiting for a fall below the $0.029 mark.
Any dramatic changes will be caused by the movement of Bitcoin and the mood in the crypto market. Tron isn’t an exception, it’s also dependent on the movements of BTC, like any other altcoin. With a positive scenario, it’s possible to predict that by the end of 2019 the price of TRX will reach $0.05. Growth beyond this mark is possible but unlikely. The bottom price is unlikely to be below $0.022, that is, in the worst case, roll back to the values of 2018.
Conclusion
As an investing crypto asset, Tron seems pretty promising. The probability of losing money by investing in it is insignificant, but the altcoin may not bring much profit. We hope our forecast will help you make the right decision. Last piece of advice — follow the news around Tron, as it is the most important factor.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov