TRON Gained 5.87% in Last Month and is Predicted to Drop to $0.102524 By Feb 06, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• TRON is up 3.08% today against the US Dollar
• TRON is currently trading 12.96% above our prediction on Feb 06, 2024
• TRON gained 5.87% in the last month and is up 84.11% since 1 year ago

TRX price is expected to drop by -10.99% in the next 5 days according to our TRON price prediction

TRON price today is trading at $ 0.115809 after gaining 3.08% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.75% in the same time period. TRX performed well against BTC today and recorded a 1.61% gain against the world’s largest cryptocurrency.

According to our TRON price prediction, TRX is expected to reach a price of $ 0.102524 by Feb 06, 2024. This would represent a -10.99% price decrease for TRX in the next 5 days.

TRX Price Prediction Chart

Buy/Sell TRON

What has been going on with TRON in the last 30 days

TRON has been displaying a positive trend recently, as the coin gained 5.87% in the last 30-days. The medium-term trend for TRON has been bullish, with TRX increasing by 18.31% in the last 3 months. The long-term picture for TRON has been positive, as TRX is currently displaying a 84.11% 1-year price change. On this day last year, TRX was trading at $ 0.062902.

TRON reached its all-time high price on Jan 05, 2018, when the price of TRX peaked at $ 0.302062. The current TRX cycle high is $ 0.179725, while the cycle low is at $ 0.007350. TRX has been displaying low volatility recently – the 1-month volatility of the coin is at 3.08. TRON recorded 14 green days in the last 30 days.

TRON technical analysis for today – Feb 01, 2024

The sentiment in the TRON markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.111527, $ 0.110623 and $ 0.109596, while $ 0.113459, $ 0.114486 and $ 0.115390 are the key resistance levels.

Bullish sentiment for TRON

27 indicators are currently signaling a bullish prediction for TRON, while 3 indicators are showing a bearish forecast. With 90% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for TRON.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 63 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

TRON moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how TRON is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for TRON is at 56.28, suggesting that TRX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of TRON over the last 50 days. Currently, TRON is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the TRX closing price for the last 200 days. TRX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this TRON prediction

After considering the above factors, we can conclude that the current forecast for TRON price prediction is Bullish. TRX would have to decrease by -10.99% to hit our $ 0.102524 target within the next five days. Moving forward, it will be important to monitor the TRX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term TRON price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.