Today, we will be looking at some of the past price trends, development status, and market opinions for TRX in order to project a Tron price prediction for December 2019.
Created by Justin Sun, the Tron project is a blockchain platform that was designed to facilitate the sharing and publishing of online content.
The native coin of the platform, TRX, is the medium through which users are paid for their content. Initially, TRX was based on Ethereum’s ERC20 standard, but a year ago, Tron migrated to its own blockchain and established its own token protocol.
TRON Foundation describes that the network “specializes in offering massive scalability and consistent reliability capable of processing transactions at a high rate via high-throughput computing.”
Currently, TRON has a trading price of $0,014278, with a market capitalization of $952.106.843 and a circulating supply of 66.682.072.191 TRX, which places the coin in 13th position. Tron has gone down by 1.71%, and $920.154.456 worth of TRON was trading in the last 24 hours.
Tron Price Prediction: Analysis
It can be noticed that TRX started slipping from the second week of November, as the coin was trading at $0.018. Up until November 15th, the coin started slowly rising and began testing the $0.02 resistance level, but it then fell back. Since then, Tron has steadily lost a part of its value, trading at $0.013 on November 25th.
TRX saw some signs of recovery in the following days, climbing back up to $0.016 at the end of November.
December started with TRX trading at $0.01551. Even if the coin maintained itself at $0.015 for a few days, on December 4rd, Tron went down below this level. The following days up until today have seen Tron trading within the $0.014 mark.
Today, 11th December, Tron is trading at $0.014348, with an increase of 0.18% in the last 24-hours.
Over the last days, there have been three major price variations, with analysts projecting that the upcoming days will have the same patter for TRX coin.
The starting price of the day for Tron was at $0.01472439, and over the next 9 hours, it lost 2.18% value and went down to $0.01440315.
According to WalletInvestor, the calculated pivot, resistance, and support values are:
- Resistance Level (R3): 0.0151
- Resistance Level (R2): 0.0149
- Resistance Level (R1): 0.0147
- Pivot Point: 0.0145
- Support Level (S1): 0.0143
- Support Level (S2): 0.0142
- Support Level (S3): 0.0139
On the last day of October, it was announced that TRON would be integrated with the new Samsung phone. TRX, BTT, USDT-TRON, and BeatzCoin are supported on the phone and can be used by people from Switzerland, Germany, UK, Canada, and the U.S.
There have also been rumors that the Dai stable coin will see integration on Tron and Binance chains through a layer 2 scaling solution called Loom network.
The founder has been teasing users for months about some secret project designed by the developers of the BTFS which will have a revolutionary impact. Sun has been criticized many times for overhyping his project and using social media extensively to attract attention and rally the price of TRX.
The founders of Tron have connections with major players in the Asian business sector. The platform has received funds for development from Tang Binsen, creator of the Clash of Kings computer game, the founder of the OFO cycle-breeding company Dai Wei, the head of Lifan industrial concern Yin Minshan, and many other prominent names.
The project is in partnerships with top IT and blockchain companies, including Bitmain, ICO-365, Bixin, Gravityless, OpenLedger, and Baidu Browser.
The Tron Github page features 42 repositories, and there are only two people working on it, but the project seems to be updated on a daily or weekly basis.
Tron Price Prediction: Market Opinion for December 2019
Due to its ranking in the crypto market, there have been many crypto websites that have made their own Tron price prediction for December 2019. To better convey the market sentiment for the projections of this coin, we have decided to incorporate some of these forecasts.
TradingBeasts forecasted that the price of TRON will reach $0.0195 by the end of 2019.
Digitalcoinprice estimated that TRX will be trading in December at $0.02256356, which would signify a change of 57.43 %.
WalletInvestor projects that TRX will drop, situating itself between $0.0119 and $0.00151 in December.
|Date||Price||Min Price||Max Price|
CoinTame estimated that TRX might reach $0.633 by the end of December of this year.
CryptoGround predicted that by the end of 2019, Tron will have a trading price of $0.0164, which would represent a change of 12.85%.
Coinnounce expects TRON to be trading at a price of $0.025 by 2019.
Uslifed forecasted that the coin will hit a value of $0.51 in December.
Cryptorating’s Tron price prediction was also one of the very few price predictions that were optimistic, expecting TRX to rise to $0.025249 by the end of the month, with an increase of 75.16%.
Tron Price Prediction: Verdict
With this, we conclude our Tron price prediction for December 2019. We hope that the information we have provided in our article will be of help in your future TRX trading endeavors.
Featured image: finder.com