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Tron (TRX) has been advancing since the beginning of the last trading week, rising from a low of $0.062 to a high of $0.072. But what is the next step – will it rise or fall?

The current price of Tron (TRX) stands at $0.068, which is more than 25% off from its 2022 highs that were registered in May. Tron founder Justin Sun announced last month that Tron DAO had bought $10 million worth of USDD and added $10 million worth of TRX to its reserves. But where is the price of Tron (TRX) going next, and what can we expect from August 2022?

Today, Crypto Lists will discuss the TRX price estimate from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk and how much margin you got if trading with leverage.

A direct challenge to the media industry
Tron is a blockchain-based entertainment content sharing platform that has gained incredible traction in recent years, with millions of users and upwards of billion transactions. The platform structure is very similar to the Ethereum platform, and it uses some of the same basic building blocks, such as decentralized applications (dApps), smart contracts, and tokens.

Tron was founded in 2017 as a direct challenge to the media industry, including the web-based giants like Netflix and Amazon, and it went on to gain greater mainstream attention in 2018 when the Tron Foundation acquired peer-to-peer networking pioneer BitTorrent. This acquisition preceded the launch of a BitTorrent token on the Tron blockchain in 2019, a move that gave Tron the ability to market a new cryptocurrency to millions of existing users.

Tron allows users to create content and applications without having to rely on centralized services, and it also enables creators to sell their work directly to consumers, representing a benefit for both sides.

The cryptocurrency powering the Tron blockchain is called Tron (TRX), and it can be used to pay the content creators to access their applications. Tron (TRX) is listed in over a hundred exchanges, and it is important to mention that transactions in TRX are free on the Tron platform.

Rating: 9.33/10
Supply: 101,712,120,038 / 101,712,120,038
Release date: May 10, 2018

Description: What is your knowledge about the native coin for the Tron blockchain? See the latest price developments, risks and potential for TRX here!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.

Tron founder Justin Sun announced last month that Tron DAO had bought $10 million worth of USDD and added $10 million worth of TRX to its reserves. USDD is Tron’s attempt at an algorithmic stablecoin that takes inspiration from Terra’s UST. Terra’s UST suffered a dramatic collapse that caused an industry-wide wipeout when it lost its peg to the dollar in May, but according to Tron founder Justin Sun, USDD shouldn’t suffer the same fate because it is collateralized by the Tron DAO Reserve. According to the organization’s website, the DAO holds $2.2 billion worth of collateral in TRX, BTC, USDT, and USDC, and the total USDD supply is $723.3 million, making the stablecoin 316.2% overcollateralized.

The crypto market saw modestly higher prices last two weeks, despite warnings from analysts that the market could fall further, and traders are looking for an attractive bottom level to enter. Last Saturday, Bitcoin surpassed $24,500, which has also positively influenced the price of TRX. Despite this, the risk of another decline for the cryptocurrency market is not over and according to a survey of economists by the Wall Street Journal, the chance of a recession in the U.S. in the next 12 months is now 49%. Investors have already turned markedly more bearish on the economy in recent months, and if central banks continue to act too aggressively, this could potentially move the global economy toward a recession. In that situation, Tron and all other cryptocurrencies could weaken from the current price levels.

Technical analysis for Tron (TRX)
After hitting recent highs above $0.090 in June 2022, Tron (TRX) has weakened by more than 40%. The price has now stabilized above $0.060 support, but a break below this level would indicate that TRX could probably test the price level at $0.055 or even below.

On the chart below, I marked the trendline, and as long the price of TRX is below this trendline, we can’t talk about a trend reversal, and the price of TRX remains in the SELL-ZONE.

Important support & resistance levels for Tron (TRX)
Tron support and resistance levels

On this chart (the period from September 2021), I marked the important support and resistance levels that can help traders to understand where the price could move. The price of Tron (TRX) still remains under pressure when we look at a “bigger picture,” but if the price advances above resistance at $0.080, the next target could be around $0.090. The important support level stands at $0.060, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $0.055. If the price drops below $0.050, which represents very strong support, the next target could be located around $0.040.

What speaks for the rise in the Tron (TRX) price
Tron (TRX) has been advancing since the beginning of the last trading week, rising from a low of $0.062 to a high of $0.072. The current price of Tron (TRX) stands at $0.068, and if the price advances above $0.080, the next target could be located at around $0.090.

Traders should also consider that the price of Tron is correlated with Bitcoin, and if the price of Bitcoin jumps above $25000, we can see TRX at $0.090 or even $0.010.

What indicates further downfall for Tron
TRX has stabilized now above $0.060 support, but a break below this level would indicate that TRX could probably test the important support level that stands at $0.050. The price of Tronix is also correlated with the price of Bitcoin, and when the price of Bitcoin drops, that usually has a negative influence on the price of TRX.

Tron price expectations from analysts and experts
With inflation at 41-year highs and more aggressive monetary tightening policies from global central banks on the horizon, expert expectations are that risk-on assets like stocks and cryptocurrencies may continue extending losses. Mike Novogratz, CEO of Galaxy Digital, guess that cryptocurrencies could fall more than 50% from the current prices, while Chris Burniske, a partner at the crypto-focused venture capital firm Placeholder Ventures, thinks that a bottom in the crypto markets could be reached in the back half of 2022. Meanwhile, Adarsh Singh wonder if TRX is ready for a breakout soon and think a price increase is more likely than a decline the coming months.



by Our Certified Author
Tron Newsflash
    Will Tron (TRX) go beyond $0.075 soon?Will Tron (TRX) go beyond $0.075 soon?
    Saturday, 22 Oct 2022 12:20 pm
    In recent news, some analysts have predicted that the TRX coin could be set for somewhat of a bull run. The crypto has been discussed as deflationary after the TRON Network agreed to introduce a mechanism that decreases its total circulating supply over time, making the coin appealing in some regards when compared to inflationary currencies. If the coin manages to break through the resistance level of $0.075, it may continue its run toward a year high of $0.088, and perhaps further to $0.1! You can sign-up for Binance here to make an investment in TRX...
    Read the full newsflash

    Short Sellers gain on 98 of 100 major cryptocurrenciesShort Sellers gain on 98 of 100 major cryptocurrencies
    Monday, 9 May 2022 12:54 pm
    It has been an unusually tough weekend for anyone waiting for a rise in the top 100 cryptocurrencies by market cap. A bear market for both growth stocks and cryptocurrencies has been noted, which has made it easier for short sellers. In 98 out of 100 cases, short sellers have gained. Among the largest declines, Terra (LUNA) lost 25.6% in a week, Shiba Inu (SHIB) went down 20%, Cronos (CRO) is down 22%, ApeCoin (APE) lost 28.9% and Arweave (AR) went down 23.8% in a week. The only two winners among the major cryptocurrencies are Tron (TRX) and the native coin of Waves blockchain. Will we see continued declines, or will the crypto market reverse soon? Try trading yourself from leading CFD brokers like Skilling and eToro. You can...
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    The buying opportunities for TRON (TRX) investorsThe buying opportunities for TRON (TRX) investors
    Wednesday, 4 May 2022 4:05 pm
    The TRX bulls have been brutally defending the $0.057 and $0.062 levels. The cyan box covering the $0.062 area showcases a bearish order block from mid-February. The Tron coin alternates between bulls and bears. In mid-April, it was back to the hands of the bulls. If TRX should maintain its bullish structure, it must defend the $0.057 and $0.062 levels in the following days and weeks. Fibonacci retracement levels assist TRON (TRX) investors seeking buying opportunities. $0.0795 to $0.0577 can be of particular interest, since those levels indicate a 61.8%-78.6% retracement level. The area between the two levels, $0.0712-$0.0749, is a good position for sellers to take profit. Besides, buyers can drive prices beyond t...
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