Tron (TRX) Price Prediction and Analysis in January 2021
We present Tron price prediction to help you make the right decision regarding your new investment. If you consider investing in cheaper cryptos than Bitcoin in 2021, here is the information you need.
Tron (TRX) Overview
Tron is a smart contract and dapp-focused project that was initially launched on the Ethereum blockchain. It is currently the 18th largest cryptocurrency by market cap, according to Coin Market Cap. TRX is the native token used to power the now independent Tron blockchain, which ranks among the top blockchains known for smart contracts and dapps.
The blockchain has also recently started supporting DeFi tokens, especially Wrapped BTC and Wrapped ETH. In a strategic partnership with digital asset custodial services provider – BitGo, Tron has ventured into the booming world of DeFi, which has grown considerably this year. With that in place, Tron hopes to be placed in a strategic position to compete favorably with Ethereum, which is the blockchain known for DeFi support. This is especially true as transaction fees on Ethereum have become unbearable, while Tron has promised to keep transaction fees low despite the growth of DeFi on the network.
TRX currently has a market cap of $2,138,590,708, with a total supply of 100,850,743,812 TRX. The current TRX price is $0.029919. $980,429,910 worth of TRX have been traded in the last 24 hours.
Tron (TRX) Price Prediction: Analysis
TRX has made some steady but very slow progress in price in 2020. It only made significant jumps in February, September, and November, while the rest of the time, it was just moving in a tight range. After the last upsurge that took the price to $0.361 on November 24, it has dropped significantly to $0.2 and still varies so far to $0.28.
After showing signs of recovery, TRX has two major levels at the 50 and 20 MAs to break before getting a clear way up. The positions of the 100, 50, and 20 MAs, however, suggest that the asset should be fine for now and in the short-term if the price manages to break the key levels and go higher. If the opposite plays out, a Death Cross is likely to occur when 20 MA crosses below 50 MA. This situation usually suggests a flip into a bearish trend, which means the price could dip further as a result.
Walletinvestor has calculated some key resistance and support levels for traders of TRX, as shown below:
- Resistance Level (R3): 0.0322;
- Resistance Level (R2): 0.0300;
- Resistance Level (R1): 0.0288;
- Pivot Point: 0.0266;
- Support Level (S1): 0.0254;
- Support Level (S2): 0.0232;
- Support Level (S3): 0.022.
Tron is one of the networks upon which Tether issues its leading stablecoin – USDT. A few days ago, the number of USDT (Tron USDT) issued on the Tron blockchain exceeded 6.6 billion. This is just one of Tron’s fast-growing metrics. The number of dapps is also on a rapid increase, and the number of daily dapps active users over the last 2 weeks has stayed ahead of both Ethereum and EOS.
Tron (TRX) Price Prediction: Market Opinion for January 2021
The following are TRX price predictions from different websites that regularly update their predictions for cryptocurrency and other assets. They are not foolproof predictions, but you can use them to get an idea of where the price could be in January 2021.
At the moment, Walletinvestor predicts TRX to start January 2021 at $0.0280. They do not expect any major price change for the first few days. The website forecasts that the highest price during the period could reach $0.03, while the lowest expected price is $0.025.
Digitalcoinprice states that the price of Tron for January 2021 will be $0.06260539, with an increase of 115.01%.
Tradingbeasts predicts that TRX will be worth $0.0319272 at the start of January 2021. The price may rise as high as $0.0400525. The minimum price is expected to reach $0.0272357, and the closing price is $0.0320420.
Gov.capital places its TRX price prediction for January 2021 at a maximum of $0.10097 and a minimum of $0.021675. The month is expected to close at $0.0357. Here is Tron price prediction for the whole month of January 2021:
|Calendar date||Regular||Least possible price||Best possible price|
|2021 January 01, Friday||0.0255||0.021675||0.029325|
|2021 January 02, Saturday||0.0314||0.02669||0.03611|
|2021 January 03, Sunday||0.0365||0.031025||0.041975|
|2021 January 04, Monday||0.0654||0.05559||0.07521|
|2021 January 05, Tuesday||0.0878||0.07463||0.10097|
|2021 January 06, Wednesday||0.0736||0.06256||0.08464|
|2021 January 07, Thursday||0.0684||0.05814||0.07866|
|2021 January 08, Friday||0.0671||0.057035||0.077165|
|2021 January 09, Saturday||0.06023||0.0511955||0.0692645|
|2021 January 10, Sunday||0.0512||0.04352||0.05888|
|2021 January 11, Monday||0.0516||0.04386||0.05934|
|2021 January 12, Tuesday||0.05044||0.042874||0.058006|
|2021 January 13, Wednesday||0.0500||0.0425||0.0575|
|2021 January 14, Thursday||0.0440||0.0374||0.0506|
|2021 January 15, Friday||0.0398||0.03383||0.04577|
|2021 January 16, Saturday||0.0325||0.027625||0.037375|
|2021 January 17, Sunday||0.0316||0.02686||0.03634|
|2021 January 18, Monday||0.0432||0.03672||0.04968|
|2021 January 19, Tuesday||0.0421||0.035785||0.048415|
|2021 January 20, Wednesday||0.0425||0.036125||0.048875|
|2021 January 21, Thursday||0.0385||0.032725||0.044275|
|2021 January 22, Friday||0.0362||0.03077||0.04163|
|2021 January 23, Saturday||0.0350||0.02975||0.04025|
|2021 January 24, Sunday||0.0357||0.030345||0.041055|
|2021 January 25, Monday||0.0375||0.031875||0.043125|
|2021 January 26, Tuesday||0.0373||0.031705||0.042895|
|2021 January 27, Wednesday||0.0386||0.03281||0.04439|
|2021 January 28, Thursday||0.0365||0.031025||0.041975|
|2021 January 29, Friday||0.0346||0.02941||0.03979|
|2021 January 30, Saturday||0.0325||0.027625||0.037375|
|2021 January 31, Sunday||0.03046||0.025891||0.035029|
Tron (TRX) Price Prediction: Verdict
This is the price prediction and analysis for January 2021. We hope this will help you make the right decision for investing in TRX in the coming new year.
Featured image: Blokkt