Tron Price Prediction: Here’s Why TRX Could Drop by 10% to $0.14

by Gordon James

Tron’s share price has fallen back after rising sharply this week. TRX is trading at $0.1538, slightly below this week’s high of $0.1687. The currency has risen over 125% this month, and its total market capitalization has reached over $11 billion. It is the 18th largest cryptocurrency in the world, just below VeChain.

Tron News: Tron, like all digital coins, rose this week as investors welcomed Coinbase’s listing. Most currencies, including BTC, ETH and Dogecoin, have reached their all-time highs. Profit-taking, however, has pushed most currencies slightly lower in recent hours – the four largest currencies have lost more than 2% in the past 24 hours alone.

Meanwhile, there’s been a lot of activity in Tron lately. On the one hand, the amount on Thera’s blockchain has reached more than $24 billion, slightly more than the Ethereum network. In a statement, Justin Sun, founder of Tron, said:

With this historic milestone, I am proud to say that Tron is well positioned to become the global settlement layer and blockchain protocol of the future.

Forecast iron prices

Looking at the four-hour chart, we see that the price of Tron has reached an all-time high of $0.1687 this week. We can also see that the currency has formed an ascending channel pattern. In fact, he is now trying to go down that channel. It also broke through an important support level at $0.1490.

Consequently, I think TRX will fall further in price as the bears have targeted the bottom of the channel at $0.14, which is almost 10% below the current price. However, a rise above $0.16 would disprove the bearish thesis.

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TRX price chart

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