- TRAC has the potential to reach $0.65 in 2023 if the bulls keep on pushing further.
- Analyst predicts that TRAC could reach $1 irrespective of BTC continuing a bullish trend or retracing.
- TRAC’s bearish price prediction for 2023 could be $0.15
What is OriginTrail (TRAC)?
OriginTrail is a set of tools and protocols built on the OriginTrail Decentralized Knowledge Graph (DKG) designed to bring semantics to Web 3. The community saw exponential growth in OriginTrail Decentralized Network (ODN) as it was put to good use in most essential human activities such as supply chain. The OriginTrail ecosystem, defined by the core values of neutrality, inclusiveness, and usability helped it groom a better image.
The Trace token (TRAC) is a utility token that is used for DKG operation and incentivizing protocol behavior. It is needed to perform the operations such as publishing on the network. TRAC was launched in 2018 as an ERC-20 token on the Ethereum network with a fixed supply of 500,000,000 tokens. The core utility of TRAC is publishing and updating assets, collateral on DKG nodes, delegating to DKG nodes, staking on keywords, and TRAC as a fungible token.
OriginTrail (TRAC) Market Overview
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Analyst’s View on OriginTrail (TRAC)
CrediBull Crypto analyst tweeted that TRAC had the potential to reach $1. He states even in the event that BTC has a retracement or continues its bullish run, TRAC had the potential to reach $1.
OriginTrail (TRAC) Current Market Status
According to CoinMarketCap, TRAC is up by 13.59% in the last 24 hours and is trading at $0.3789, at press time. It has a 24-hour trading volume of $2,033,985 and CoinMarketCap ranks TRAC 195 with a live market cap of $138,501,862. TRAC was trading at $0.37 when the markets opened for trading for the week.
The token’s horrific start became much worse with each passing day. TRAC descended deep into the red zone losing value. It tanked from $0.3647 to $ 0.2865 at the end of the first two days of the week. And thereafter from the second day to the fifth day, the token went through a period of consolidation.
But with the dawn of the fifth day, the bulls gave momentum to TRAC. The token rose, consolidated, and repeated this behavior until it reached above the market price.
OriginTrail (TRAC) Price Analysis 2023
By market capitalization, TRAC ranks 266 on CoinMarketCap’s list of the biggest cryptocurrencies. Will TRAC’s most recent improvements, additions, and modifications help the TRAC price rise? First, let’s focus on the charts in this article’s TRAC’s price forecast.
OriginTrail (TRAC) Price Analysis – Bollinger Bands
Bollinger band is an indicator that is used to measure volatility in the market. This indicator relies on two parameters: Period and Standard deviation. The period is the time frame while standard deviation measures how far the values are from the mean or average.
The Bollinger band has an upper band, middle band, and lower band as shown below. The upper band gives the maximum limit that the digital asset could rise from the mean. The lower band marks the other extreme or the lowest point that the prices of a digital asset could fall.
The logic is that the price of the digital asset is supposed to hover close to the middle line of the Bollinger band. However, on occasions that the price of the digital assets strays too far from the middle line, just as shown below, we could expect the price to rise back close to the median after hitting the lower band.
For instance, we could see that TRAC touched the lower Bollinger and returned to the mean. This behavior is also expected to happen vice versa – when it touches the upper Bollinger band.
The logic behind this is based on the empirical law of standard deviation which states 95% of the time, the normal distribution of data lies within two standard deviations. The upper band is calculated by taking the middle band and adding twice the daily standard deviation to that amount. The lower band is calculated by taking the middle band and subtracting two times the daily standard deviation
In instances where the Bollinger bands widen, we could expect more volatility in the market and expect the prices to consolidate or move sideways when the bands contract.
OriginTrail (TRAC) Price Analysis – RSI Indicator
The Relative Strength Index is an indicator that is used to find out whether the price of a digital asset is overvalued or undervalued. As per its name, RSI indicators help determine how crypto is doing at present, relative to its previous price. To evaluate this, RSI compares the gains of the digital asset against the losses it made during the past 14 days. This ratio of gains and losses is then deducted from the 100.
Hence, if the answer is less than 30, then we call that the price is in the oversold region. This means that many are selling digital assets in the market, making them undervalued. Moreover, as per the supply-demand curve theory, the price is supposed to drop when there is an increase in supply.
If the answer is more than 70 then the digital asset is overbought as many are buying. Since many want to buy digital assets the demand increases which intuitively increases the prices.
TRAC’s RSI value is at 49.86 and is tilting upwards. If the RSI makes higher highs in tandem with the crypto then, we could adjudicate that the market is in a bullish trend.
OriginTrail (TRAC) Price Prediction 2023
When considering the chart below, TRAC had a Golden Cross where the 50-day MA (purple) crossed the 200-day MA (Orange) from below. This usually results in a surge in prices and as expected TRAC surged from $0.2425 to $0.4854 an increment of approx.100%. However, after the surge TRAC was descending but after breaking below the 50-day MA, the token has regained momentum and is starting to rise. On its way up, TRAC is on the verge of touching the upper Bollinger Bands, if it touches then we could expect the market to correct the prices. If not it could reach resistance 1 at $0.65.
Contrastingly, if the bears take over the market, TRAC could fall back to the 50-day MA and if by any means the bears manage to break this support, then the 200-day MA could come to TRAC’s rescue. However, given that TRAC bears are too powerful for the 200-day MA to hold up then it would look to land on Support 1.
Meanwhile, it’s important to understand that the proper combination of indicators is used in gauging a token. Each indicator should represent different parameters of the token or coin. Be its volatility, the strength of the coin, or any other parameter. The indicators should be chosen in a way that supplements each other when pushed to the limits.
OriginTrail (TRAC) Price Prediction 2024
The next year could be a significant year in the cryptocurrency calendar as it is the year of Bitcoin halving. Since the rewards for mining and validating will be slashed in half, there will be fewer validators. This means there will be less BTC mined and the supply will shrink and as a result, the price could surge.
Since all cryptocurrencies rise and fall in tandem with BTC, we could expect TRAC to reciprocate this behavior. As such TRAC could rise to somewhere close to $0.80.
OriginTrail (TRAC) Price Prediction 2025
In the aftermath of the BTC halving, we could expect the market to correct BTC. But, as per Aurelien Ohayon, CEO of XORstrategy, a bull run will be followed for BTC for three years after halving. However, it will not be a continuous three years of a bullish run. It will be split by 1.5 years of the bull run followed by 1 year of the bear run which then will be followed by another 1.5 years of the bull run. If this happens and the other coins reciprocate this behavior then TRAC could reach $1.10 in 2025.
OriginTrail (TRAC) Price Prediction 2026
Remember 2025 will be the first year after BTC halves and six months into 2026 will mean that the bull run will be over and the bear market will appear. Hence, the price of TRAC could reach a maximum of $1.50 in 2026 and go through a correction.
OriginTrail (TRAC) Price Prediction 2027
The first half of 2027 could be a bearish market and the rest six months could be followed by market consolidation in the course of the year. Hence, it is possible to see TRAC trade at around $1.4 in 2027.
OriginTrail (TRAC) Price Prediction 2028
TRAC will likely trade above its 2025 price prediction of $1.10 in 2028 due to the start of the next bull run with respect to Bitcoin halving. With the powerful sentiment of investors to buy more cryptocurrencies, a buy pressure may be seen in the market, which will make TRAC trade at around $1.89 in 2028.
OriginTrail (TRAC) Price Prediction 2029
The most impact of a bullish sentiment resulting from Bitcoin halving could be mainly experienced in the coming year. We can expect the price of TRAC to break more psychological resistance and trade around $2.10 by the end of 2029.
OriginTrail (TRAC) Price Prediction 2030
The impact of cryptocurrency adoption could stabilize the market by 2030, sustaining the bullish gains of the previous years. Hence, we can expect the price of TRAC to trade above $2.47 by the end of 2030.
OriginTrail (TRAC) Price Prediction 2040
TRAC is predicted to surpass more psychological resistance levels and trade around $2.80 by the end of 2040, potentially even surpassing its all-time high value.
OriginTrail (TRAC) Price Prediction 2050
By the year 2050, the widespread adoption of cryptocurrencies is predicted to stabilize the market and maintain the previous bullish gains. As a result, we can anticipate TRAC to trade above the $3.00 mark towards the end of 2050.
Conclusion
If the investors see potential in TRAC and add it to their portfolio then we will be able to see exponential growth in TRAC prices surpassing $3.00.
FAQ
OriginTrail is a set of tools and protocols built on the OriginTrail Decentralized Knowledge Graph (DKG) designed to bring semantics to Web 3.
TRAC tokens can be obtained from top cryptocurrency exchanges for trading. Some of the exchanges are Coinbase, KuCoin, Uniswap, Bittrex, Huobi, etc.
TRAC has the potential to break its all-time high of $3.87 in 2030 but it could break it much before that.
TRAC is one of the rising tokens and if it manages to break above the present $0.3622 zone it has the potential to hit $0.65.
Since TRAC provides investors with several opportunities to form their crypto holdings, it grooms to be a good investment in 2023, especially with the prevalent bullish trend, at press time.
The lowest price of TRAC is $0.003785.
Žiga Drev, Tomaž Levak, and Branimir Rakić cofounded the company. Trace Labs, the core development company was initially founded in 2013.
TRAC can be stored in a hot wallet, cold wallet, or exchange wallet.
TRAC is expected to reach $0.65 by 2023.
TRAC is expected to reach $0.80.
TRAC is expected to reach $1.10 by 2025.
TRAC is expected to reach $1.50
TRAC is expected to reach $1.4 by 2027.
TRAC is expected to reach $1.89 in 2028.
TRAC is expected to reach $2.10 by 2029.
TRAC is expected to reach $2.470 by 2030.
TRAC is expected to reach $2.80 by 2040.
TRAC is expected to reach $3.00 by 2050.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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