TRX Price Prediction

TRON is a blockchain-based operating system that aims to make blockchain technology more accessible. Unlike Ethereum, which can only handle 25 transactions per second, TRON claims that its network can handle 2,000.

TRON has established itself as a platform for content creators to engage directly with their audiences. Producers are expected to lose less money to middlemen by eliminating centralized platforms, such as streaming services, app stores, and music websites. Users may be able to acquire stuff at a lesser cost as a result. Justin Sun, the company’s creator, has been the driving force behind TRX‘s recent gains. On the Tron blockchain, he aims to build an algorithmic stablecoin. Sun is utilizing $10 billion in crypto as collateral for the new stablecoin, which will be dubbed USDD. Let us review the TRX price

TRX Price Prediction

TRX Price

Bullish Scenario: TRX has risen by almost 50% since the last month and is presently trading at $0.07, its highest level since January. TRX is currently testing the $0.07 support level once more. We could see a move towards $0.1, $0.12, and $0.13 if it stays above this zone and the $0.08 resistance level is breached.

Bearish Scenario: TRX has been in an upward channel on a higher time frame, such as the daily, for a few weeks. However, it was unable to break through the bearish downtrend-line, indicating that we are still in bearish zone. Failure to hold the $0.06 support level might lead to a slide to $0.05, $0.04, and even lower levels.

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Images courtesy of TradingView.


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