Tron (TRX) Price Prediction 2021: What Next After the 22 Percent Rally?

Tron (TRX) Price Prediction: What Next After the 22 Percent Rally?
Tron (TRX) Price Prediction: What Next After the 22 Percent Rally?

The Tron price has started the quarter well. The TRX has jumped by more than 22% in the past 24 hours, bringing its market cap to more than $6.17 billion. It is also the 20th-biggest cryptocurrency in the world. It was also among the best-performing digital assets in the first quarter as its price rallied by more than 250%.

What happened: Tron is one of the best-known blockchain projects in the world. It was made famous when its founder, Justin Sun, promised to pay millions of dollars to have lunch with Warren Buffett.

It also spent $126 million to acquire BitTorrent, the decentralized platform known for helping people download illegal content. Today, the BitTorrent Token is worth more than $4.95 billion.

The recent rally is mostly because of the renewed interest of the network. As shown below, the number of active accounts has continued to increase. Similarly, the volume of transactions has continued to rise.

Tron Price Prediction

The daily chart shows that the TRX price has been on a strong upward trend. It reached a year-to-date high of $0.0972 in March. During the month, it managed to move above the important resistance levels at $0.0493 and $0.0645 in March.

The price is still being supported by the short and longer-term moving averages. It is also above the ascending trendline that connects the lowest levels since February this year. Therefore, in my view, while the upward trend to above $0.10 is still intact, there is also a possibility of a short-term pullback as investors rush to take profit.

Previous articleLeaking calcium in neurons an early sign of Alzheimer’s pathology, says new research
Next articleCoronavirus: Nova Scotians 65+ now able to book appointment for COVID-19 vaccine
Jose S Vanhorne
Jose S. Vanhorne 3714 Gambler Lane Deer Park, TX 77536 [email protected] 281-884-7952


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.