So far in 2023, the Tron token has seen a strong rise and is now one of the top 15 cryptocurrencies by market cap. In 2023, the project is excellent. But what will happen in March 2023, and how will Tron perform in the coming weeks? How high can TRON go? Let’s take a look at it.
How has the Tron (TRX) price moved in the last few weeks?
How high can TRON go: TRX/USD Weekly chart showing the price – GoCharting
Tron (TRX), like almost all major cryptocurrencies, has seen a significant increase in the last 1 to 2 months. TRX’s price increased from $0.54 to $0.62 in January. This increase was much smaller than the increases of many other altcoins, as well as the increase of Bitcoin.
The Tron (TRX) price, on the other hand, has increased in value, particularly in the last few weeks. While other coins have seen more price stability, the TRX token has recently risen from $0.62 to more than $0.71. Only in the last few days has there been another minor correction. The price was reduced to $0.70. Nonetheless, the Tron forecast for the future appears to be positive. At the time of writing this, the TRON price is trading at $0.06843.
Can the price rise be sustained?
The Tron price increase began slowly in January but continued unabated in February 2023. This allowed the price to steadily rise, whereas other cryptocurrencies have experienced more sideways movement in recent weeks.
The ongoing rise in the price of Tron (TRX) aligns well for the coming weeks. Tron can gain from the market’s overall bullish trend. We can additionally observe that the fluctuations are lower than in other cryptocurrencies, and the rise is very steady.
Interesting. More than 50% of USDT is on Tron and this % has been growing recently.
For comparison, 39.87% is on Ethereum. pic.twitter.com/V30EbK1EJA
— Patrick | Dynamo DeFi (@Dynamo_Patrick) February 6, 2023
Furthermore, the network has made significant progress. Tron, in particular, dominates the stablecoin sector. Tether (USDT) runs on the Tron blockchain at a higher rate than Ethereum. This could have a positive effect on Tron’s prediction.
What is the Tron (TRX) prediction for March 2023?
The factors mentioned indicate that the Tron forecast in the coming weeks, at the end of the first quarter of 2023, maybe excellent. However, we must remember that the most important influencing factor, particularly in these times, is the progression of the Bitcoin price.
Another rally is very likely if the Bitcoin price rises above the $25,000 mark. However, if there is another crash, the TRX token may be hit even harder this time. Even so, the Tron prediction should not be too pessimistic.
How high can TRON go?
If Bitcoin prices rise above $25,000 and towards $30,000 again in March, Tron will continue to rise sharply. In this case, our Tron prediction is very optimistic. If the Bitcoin price stabilizes below $25,000, we still see a slight gain for the TRX due to the recent constant rise.
A Bitcoin crash appears to be on the horizon in the coming weeks. We anticipate a slight increase or a stronger rally. In this case, we predict that the Tron price will continue to rise steadily. As a result, we predict Tron (TRX) to be worth $0.77 to $0.87 by the end of March 2023.
Here are five points to consider when assessing the potential growth of TRON (TRX):
- Adoption and use case: TRON has been gaining popularity as a platform for decentralized applications (dApps), and its user base has been steadily growing. The more people that use the platform, the more demand there may be for TRX, which could potentially drive up the price.
- Market sentiment: The value of TRX and any other cryptocurrency is heavily influenced by market sentiment, which can change rapidly based on a wide range of factors, including global economic conditions, geopolitical events, and regulatory developments.
- Competition: The cryptocurrency market is highly competitive, with numerous other platforms and cryptocurrencies vying for market share. TRON will need to continue to innovate and differentiate itself from its competitors to maintain and grow its user base.
- Technological developments: TRON is constantly evolving and developing new features and functionalities that could make it more attractive to users and investors. Any significant technological advancements could potentially drive up demand for TRX and increase its value.
- Regulatory environment: The regulatory environment surrounding cryptocurrencies is still largely undefined and subject to change, which could impact the value of TRX and other cryptocurrencies. Any new regulations or restrictions could potentially hurt the cryptocurrency market as a whole, including TRON.
Is an investment in the TRX worthwhile?
According to our Tron (TRX) prediction, the TRX price is very likely to rise in the coming weeks. In general, the market is trending upward, which most altcoins are hoping to capitalize on. Tron is also on the right track in 2023, thanks to its stablecoin dominance. There are, however, risks. Above all, the ever-increasing regulation in the United States should be considered.
Where to Buy Tron Crypto?
Many exchanges sell the XRP token. Taking into consideration the biggest, here’s a list that we at CryptoTicker recommend:
If you are trading CFDs, eToro is a good alternative to buying the actual tokens and trading the price differences instead of worrying about the safekeeping and security of cryptos.
CryptoTicker Podcast
Every Wednesday going forward, you can tune in to the Podcast on Spotify , Apple and YouTube. The episodes are perfectly tailored for a duration of 20-30 minutes to quickly and effectively familiarize you with new topics in a fun setting on the go.
Subscribe & never miss an Episode
Spotify– Amazon – Apple – YouTube
Recommended posts
You might also like
More from Altcoin
Source: https://cryptoticker.io/en/how-high-can-tron-go/