TRON is the new kid on the block when it comes to blockchain infrastructure. The TRON Network is a blockchain-based platform that aims to serve as a global free content entertainment system. It aims to empower users with independent ownership of data, and enables them to freely publish, store and own data. The TRON Protocol also enables content creators to fund, publish, and maintain decentralized, decentralized applications and smart contracts.
In the last month, the TRON price has witnessed a decline of about -25%. This is a significant drop, and one that may have a huge implication on the future of TRON.
The TRON Foundation has a vision for a free, global ecosystem that enables everyone to freely and fairly exchange, utilize, and share their digital belongings. The TRON Virtual Machine is the foundation of our decentralized web, which will provide the infrastructure for all decentralized applications (dApps).. Read more about tron price prediction 2021 and let us know what you think.Will the price of TRON rise or fall in June? That’s a question you’re probably asking yourself, given the recent trend in TRON’s stock price. TRON is trading at $0.0731, up about 6% in the last 24 hours. The intraday price range for TRON is currently $0.0688 to $0.0785. TRON shares are down this week, however, having lost nearly 5% from their weekly high and nearly 50% from the past 30 days. But despite these 30-day numbers, TRON’s (TRX) 303% annualized return is still very impressive.
TRON share price overview
TRON’s share price has had a remarkable performance over the past five months, to say the least. While TRX has not risen to the level of major altcoins such as Ethereum, Cardano, and Binance Coin, it has reached some important milestones. On 1. In January, TRON’s stock price moved around $0.026. While bitcoin reached its all-time high, the price of TRX rose 240% in just a month and a half to $0.064. Prices continued to rise in a context of very weak rejection and exceeded the level of the previous year. April $0.1 and reached $0.18, the highest since January 2018. TRON broke between the ages of 17 and 25. April fell 50% to a low of $0.090. It then rose 70% as the bulls peaked at $0.168. From 12 to 23 years old. Widespread selling followed in May, with declines to $0.047, down 72%. TRON’s share price has remained above $0.060 since reaching $0.060 on the 31st. In May, the price rose 6% and ended the month at $0.076. Although June had a slow start for the crypto-currency, interest and news could help drive prices higher. Historical TRON price data from market aggregator CoinMarketCap shows that the cryptocurrency was at 5. January 2018 reached an ETA of $0.3004. This means that the current price level is almost 76% below the peak of that time. Let’s take a look at the price of TRON (TRX) for June from a technical perspective.
TRON price forecast for June 2021
There is a lot of pressure on the market right now. However, the sector is largely oversold and a near-term recovery in June is likely. TRX’s price target for June could fall to around $0.10 if the bulls avoid a drop below $0.066 this week. If not, TRX/USD could fall to the price levels mentioned in our technical forecast below. Here’s a quick technical overview of TRON’s price, highlighting areas of resistance and support that could lead to a rise or stop a further decline. The bulls have managed to make two consecutive green candles on the daily chart, but they are under heavy downward pressure as the lower wicks show. On the next moves in the timeframe, buyers should break above the resistance line of the symmetrical triangle pattern and target the 20-EMA ($0.081) to strengthen a possible uptrend. According to technical analyst @cryptotoad, TRX is showing signs of a positive move that could include a breakout towards $0.081. A confirmation and retest of the previous resistance level would show new support and allow the bulls to aim for new upside potential. Update $trx : I see signs of a break in the #trx. If this can show any continuation, there is a good trading opportunity here with a very clear goal.#tron #crypto pic.twitter.com/AGYmXxxx5pUs – Cryptotoad (@Mesawine1) 2. June 2021 Above the 20-EMA is a key supply area that will likely limit any significant upward movement before the end of June. The barrier is at $0.10, where the 50-day moving average and the 61.8% Fibonacci level of the decline from $0.17 to $0.054 are located. If this level is broken, the next targets could be the 50% Fib level ($0.11) and the 23.6% Fibonacci retracement level ($0.14). TRX/USD Daily Chart. Source: TradingView As mentioned earlier, TRON fell sharply in mid-May after confirming the head and shoulders pattern on the daily chart. The cryptocurrency dropped 32% in a single day and has failed to rise above $0.095 since then. Looking at the technical picture on the daily chart, the price is following the resistance line of the symmetrical triangle formation. However, the bears have been close to breaking the support line, which could pave the way for the recently tested $0.054 level. On the 4-hour chart, the TRX price is showing a series of lower highs and lows. There is a hint of a new breakout attempt upwards, but the bulls are currently showing some weakness near the 20-EMA. If a new market pullback occurs, a bearish reversal would likely push TRX/USD below the previously mentioned support at $0.066. This outlook should be strengthened if the MACD continues to weaken into negative territory and if the RSI does not break through its equilibrium point. If the market continues to decline, levels in the $0.059-$0.065 range are possible this week. So the low for the month could be somewhere near the $0.050 line. TRX/USD price on the 4 hour chart. Source: TradingView
What could affect TRON’s share price in June?
Many factors can influence the short-term movement of TRON’s price, and depending on the dominant factor, the price may rise or fall. One of the main determinants of the price of cryptocurrencies is the principle of supply and demand. This factor can work in the long run, especially since the space is still in the making. For TRON, demand could continue to grow with the emergence of distributed applications and DeFi. Steps like those suggested in the tweet below from Tron founder Justin Sun can only increase demand for TRX. News for all the miners in the #TronNetwork ecosystem! #TRON will dismantle #Justlend and #Justswap on the 11th. Resume in June! Don’t miss it! ⛏️ #TRONICS, take it easy and get your gold picks ready! You don’t have to transfer the money you’ve earned to other sites, you can just keep getting money! – Justin Sun (@justinsuntron) 7. June 2021 The cryptocurrency also has one of the most active blockchains, with more active addresses than Bitcoin and Ethereum last month. News on regulatory and compliance issues for cryptocurrencies could also play an important role in TRON’s price movement this month. Cryptocurrency prices plummeted in May as China imposed restrictions on cryptocurrency and mining activities. It is regulatory and compliance issues like these that could trigger a new wave of collapses that would affect the TRX price. On the other hand, prices could rise significantly if news emerges that promotes the adoption of cryptocurrencies. This is at least one case where the price of TRX shot up after El Salvador became the first country to accept bitcoin as legal tender. It should be noted that the above is an opinion based on the available data only. It should not be considered as direct investment advice.TRON, the 6th biggest cryptocurrency with a market cap around $1.7 billion, is likely to have a strong growth in the near future. Here is our TRON price forecast for the month of June – see the bottom of this article for a TRON price prediction for August 2021.. Read more about tron price prediction reddit and let us know what you think.
Frequently Asked Questions
What will tron cost in 2021?
As the price of TRON (TRX) continues to rise, it looks to once again turn the cryptocurrency market on its head. With less than $1.5 billion USD in market cap, it is now the 5th largest cryptocurrency on the market. This year, the price of TRON dropped from a peak of $0.30 to a low of $0.05, before climbing nearly 400% in just one month. The current price is $0.15, which many are calling a bargain. The world of cryptocurrency is a wild and volatile one. With one hack or scam, the price of bitcoin can drop to five cents. As such, even the best-performing cryptocurrencies can be a risky investment. However, there are a handful of coins out there that have managed to outperform the market over the long-term. In this article, I am going to look at one such alternative to bitcoin, tron (TRX).
Will Tron ever reach $1?
As we all know, Tron’s token price keeps rising and rising. While many predict the TRON price to hit $1,000 by the end of the year, the cryptocurrency has left that mark far behind. But what is Tron worth now? Today, Tron (TRX) is being traded around $0.049, with a market cap of $2.8 billion. The coin has managed to reach this level pretty quickly, after it was launched in early 2017. The coin has also managed to increase by 563% in the past 12 months, which is a pretty good growth rate for any cryptocurrency.
Can Tron reach $5?
TRON (TRX) has had an interesting year. The coin, which was created in September 2017, reached $0.06 in January 2018, a price that eventually increased to $0.64 in May 2018. The coin then dropped to a low of $0.26 in June 2018 before rising to $0.39 in August 2018. Cyptocurrencies are a popular investment tool for those who want to make a fortune quickly, but you need to know a lot about them before you can make a wise decision.
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