At the time of writing, TRX is being traded at the price of $0.07789. The price of the coin has decreased by almost 6% in the past 24 hours. The maximum and minimum of the day are around $0.08131 and $0.07557. The daily trading volume has on the other hand has increased by almost 52% in one day. TRX is listed on coinmarketcap at the 25th spot according to market capital and has a market dominance of about 0.36%.
TRX before the crash had achieved its all-time high around the price of $0.18 in April 2021. During the crash, TRX created a bottom and dropped down to $0.04637 in June. Just like many other coins, the coin showed reversal but the reversal wasn’t strong enough to lead the coin to the new ATH. It is still way below its ATH value.
TRX has a total supply of around 101B tokens and has nearly all of them in the circulation i.ie around 101B. TRX can be traded at a lot of different exchanges such as KuCoin, Binance, Hotbit, FTX.
Technical Analysis – Tron (TRX)
Tron (TRX) at one point had been printing higher highs. After it failed to create a new higher high, the price broke the structure and the fall started.
It can be seen that after the drop, the price of TRX started to make lower highs and lower lows. The price was respecting the trend line all the time. On the daily time frame, the price wicked down and quickly closed above.
Now, this wick down created the structural low. This low has remained unmitigated for a long time. Now the price is moving down to touch that level once again. Once it does, we can expect a long from there. The price can then shoot upwards and touch the imbalance left above. At that point, we can expect a reaction from the market, and most probably we can drop down and continue the downwards trend.
Price Prediction – Tron (TRX)
Tron(TRX) has been one of the highly bullish coins in the market. According to wallet investor, TRX in one year is expected to reach a value of $0.146. In five years, it is expected to touch $0.4097. This shows that TRX has a huge amount of potential in it and would give amazing returns to the people who would hold it.
