Tron (TRX) Price Prediction March 2019 – Upside Target Was Reached in February, Now Back in Consolidation

  • Stavros Georgiadis
    πŸ“ˆ Price Predictions

    πŸ—“οΈπŸ“ˆTron (TRX) reached our upside target two days after we wrote our Tron price prediction for February 2019.


Tron (TRX) Price Prediction March 2019 – Upside Target Was Reached in February, Now Back in Consolidation

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Tron (TRX) reached our upside target two days after we wrote our Tron price prediction for February 2019. Our opinion was that β€œA first target price is the upper daily Bollinger band at $0.029. For February we prefer the bullish scenario, as odds are for now in favor of it.” However, after the upside target was reached lower prices followed for the rest of February 2019. What is our Tron price prediction for March 2019?

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Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

Tron Price Prediction 2019 – A Bottom at $0.0255 Has Formed. Will It Last in February?

Tron (TRX) Key Statistics

Some key stats for Tron as of March 6, 2019 are the following:

  • Price of Tron (TRX) is $0,023642           
  • Market Cap 1.57 Billion, Circulating Supply is 66.68 Billion
  • Volume 216.72 Million
  • 52 Week Low- 52 Week High: $0.0115- $0.0958
  • Year-to-date performance is +22.36%
  • Rank 10 on CoinMarketCap based on top 100 cryptocurrencies by market capitalization, in February it was number 8.

Tron price prediction March 2019 based on various online sources

What are some Tron price prediction ranges that can help as a guidance on where price could move during March 2019? Consider the following Tron price prediction ranges not as investment recommendations but as opinions only.

WalletInvestor is pessimistic about the price of Tron in the long-term, and according to its forecast trend line the price of Tron may be in the range of $0.022-$0.023 by March 13, 2019.

PrevisioniBitcoin estimates that Tron (TRX) will have a minimum price of $0.020 in March 2019. It mentions that β€œOn March 2019 Tron may heavily boost its price. We assume as high predictable a mass adoption of this cryptocurrency next months. We expect on March 2019 a Tron rise with a strong capitalization and consequently a concrete value per coin increase.”

CryptoGround makes the following Tron price prediction: After one month a price of $0.0244 is predicted for a gain of +2.29%. It can be considered a conservative Tron price forecast.

CoinFan makes the following Tron price prediction range. A minimum price of $0.047377201 and a maximum price of $0.064098567. This forecast seems to be a very optimistic Tron price prediction as the minimum price is almost 83% above the current price of about $0.02380 as of March 6, 2019.

DigitalCoin forecasts that Tron in March 2019 will have an average price of $0.03443841 and a change of +45.91 %. This is a very optimistic forecast.

Tron price prediction based on technical analysis

Tron price prediction daily chart
TRX/USD chart by TradingView
Tron price forecast weekly chart
TRX/USD chart by tradingview

As per our previous article about Tron price prediction our two scenarios, the optimistic and the pessimistic ones, bullish and bearish for the price of Tron in March 2019 can provide some possible ranges about price action.

Tron price prediction March 2019 bullish scenario

The weekly chart for Tron is more optimistic compared to the daily chart. The weekly chart shows a strong support at the price level of $0.020, a rising MACD indicator and most importantly a dominant uptrend, supported by the ADX/DMI indicator as the +DI line is above the +DI line. There is a strong support at the price level of $0.022 which can move the price up to the level of $0.030.

A more conservative target to the upside is the level of $0.028. It is positive that the level of $0.021 has confirmed a double bottom, and on the daily chart the Stochastics indicator is moving up having made a bullish crossover. There is also strong support at the level of $0.02275. An even more conservative target is the level of $0.002613, the upper daily Bollinger band.

Tron price prediction March 2019 bearish scenario

As mentioned above the weekly chart for Tron is more optimistic. When we analyze the daily chart the outlook changes. Tron is trading below its 20-day and 50-day exponential moving averages, the level of $0.028 appears to be a strong resistance, MACD indicator is negative and the strength of trend is very low, still the dominant trend is the downtrend.

Tron has difficulty to trade above the price level of $0.02430. Above it there is strong resistance at the price level of $0.026. As of February 4, 2019 Tron, in general is making lower highs and lower lows which are the textbook definition of a strong downtrend. Because the current trend is not strong, we do not anticipate large price movement for Tron in March 2019.

Conclusion for Tron forecast this month

The current trend is not strong, but there are better odds to focus on the downside.

Cover image via u.today
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About the author

Stavros Georgiadis - CFA Charterholder, Economist, Forex market trader, US stock market financial analyst.

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