Based on the past price behavior and market opinion for Tron (TRX), we would like to launch a Tron price prediction for June 2020.
What Is TRON?
Founded in 2017, the Tron Foundation is a blockchain platform that enables users to create smart contracts and decentralized applications (DApps), publish freely, own, and store other content. Tron established its own network in 2018 after leaving the Ethereum blockchain.
TRX is the base currency on the TRON network, currently ranked 17th with a market cap of $1,058,496,734 and a circulating supply of 66,682,072,191 TRX coins. In the last 24 hours, $790,290,886 worth of TRX exchanged hands. As of this writing, the TRX price is $0.015874, with a change of -1.27%.
Tron Price Prediction: Analysis
On May 14, TRX opened the day at $14998 and closed at $0.015263 after obtaining a high of $0.015323 on the same day. One week later, on May 21, the coin started the day at $0.014998, peaked at $0.015042 before closing at $0.014256. In the first week of June, TRX was trading at $0.016, which was a slight increase from the previous month’s average price.
WalletInvestor calculated the resistance, pivot, and support levels of TRX as follows:
- Resistance Level (R3): 0.0174
- Resistance Level (R2): 0.0171
- Resistance Level (R1): 0.0169
- Pivot Point: 0.0165
- Support Level (S1): 0.0164
- Support Level (S2): 0.0160
- Support Level (S3): 0.0159
TRON Recent Developments
Among the latest developments of the Tron Foundation is the first airdrop of JUST (JST) to TRX holders. Launched on May 20, the project saw the first airdrop of 217,800,000 JST tokens, amounting to 2.2% of the total supply. In the next 12 months following the initial airdrop, 237,600,000 JST will be available to TRX holders. This amounts to 2.4% of the total supply.
Besides, the platform celebrated the second anniversary since the launch of the TRON mainnet on May 31, 2018. The project has recorded significant growth since its launch, with the network reaching almost 6 million accounts in total and 750 DApps. It also boasts 20 million in block height and a supply of more than 2.2 million Tether stablecoin.
Tron (TRX) Price Prediction: Market Opinions for June 2020
In addition to our own observation, we equally analyze market opinions of different crypto platforms. Here are some of the data we collected from various stakeholders to help us present the market sentiment for TRX.
WalletInvestor released a TRX price prediction for the next ten days of June, including the possible maximum and minimum prices for each day. Here is the tabulation:
|Date||Price||Min Price||Max Price|
According to Cryptoground, their technical analysis reveals that Tron (TRX) price will remain stable in the long-term. They predicted the price of TRX at $0.0165 in the next seven days, which is a change of 0.83%.
TRX price prediction, according to Digitalcoinprice, stands at $0.03185857, which is a change of 95.04%. They suggest that TRX price could reach up to $0.0848 in the future.
According to Cryptorating, they expect TRX to trade at $0.017547 in the next week, bringing a change of 6.96%. In the next 30 days, the TRX price could shoot to $0.020387, which is a change of 24.27%.
Coinpredictor predicted that tomorrow’s price would be $0.014606, which is -8.6%. In the next seven days, the coin will shed off -14.3%, bringing the price to $0.013695.
Tron (TRX) price prediction, according to Gov.capital, is on a declining trend. The platform uses a custom logarithm based on Deep Learning to help them decide whether TRX is a good portfolio. According to Gov.capital, TRX will peak at $0.02049 on June 29, before it drops to $0.020052 on June 30.
According to Altcoinforecast projections, TRX price is expected to hit 0.00000101BTC on June 30. As of this writing, the coin is trading at 0.00000176BTC on Bittrex, which is a declining trend for the coin.
Bitverzo gives a detailed projection of the TRX price for the next 11 days of June.
|Saturday, June 20, 2020||0.010839||-0.023876||0.045855|
|Sunday, June 21, 2020||0.010508||-0.024558||0.047810|
|Monday, June 22, 2020||0.009562||-0.024985||0.045255|
|Tuesday, June 23, 2020||0.009091||-0.025751||0.045590|
|Wednesday, June 24, 2020||0.009785||-0.026070||0.047748|
|Thursday, June 25, 2020||0.011005||-0.024299||0.045447|
|Friday, June 26, 2020||0.011425||-0.023266||0.049066|
|Saturday, June 27, 2020||0.010704||-0.022821||0.048615|
|Sunday, June 28, 2020||0.010373||-0.023662||0.048792|
|Monday, June 29, 2020||0.009427||-0.026395||0.046926|
|Tuesday, June 30, 2020||0.008956||-0.027369||0.045318|
Tron (TRX) Price Prediction: Verdict
This is the end of our Tron price prediction for June 2020. Many prediction sites see TRX on a declining trend, but no one can tell exactly what can happen to prices in the crypto space. For us, we see TRX trading between $0.09 and $0.11 for the rest of June.
Featured image: quoteinspector.com