Short term price analysis:
Total market cap behaviour
After swift moves down, then up, market has entered a boring sideways action for almost a week.
It all begun as market started losing its ground and tumbling way below $200 billion market cap, it bounced back up to $210 and finally settled at the $200 billion level.
One note: below numbers for total market cap are from Tradingview and has a discrepancy of around $8 billion to CMC data.
The total market cap almost dropped to our predicted zone of $162 billion – it stooped all the way to $170B before bouncing back up (data by Tradingview). In the jolt up, market touched on the $205 billion zone and bounced off it to another low at $191 billion before getting comfortable at the current $198 billion.
Right now, it is heading to its resistance of $205 billion, a Fib382 zone that already proved to be sturdy level as the price tried to crack it on November 28th and 29th.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction picker for all coins, bitcoin included.
As you can see below, Fear & Greed Index is back in the fear zone, nearing the extreme fear area. It is still very possible that we actually do drop another $30 billion of value before we can talk about an actual reversal.
TRX/USD Price Analysis
Our analysis from 5 days ago is still active and most likely scenario in our eyes:
Market was turbulent but TRX not so much. It failed to get back up and test its resistance at $0.017 and right now hangs in balance at $0.0156 with odds of keeling over and falling down much bigger than the other way around.
So a drop to $0.011 is in the cards for Tron.
Below is our long-term Tron price prediction for 2019 and beyond.
What does the Tron prediction for the coming years look like? Will the self-proclaimed “Ethereum Killer” continue to rise, move sideways or even crash? A comprehensive analysis of Tron can be found here.
Tron (TRX) Basics
Tron currently ranks 11th by market capitalization. This promising project is often forgotten by many investors. Too often, the focus is on top performers such as Bitcoin or Ethereum. Tron was founded by Justin Sun, who previously worked for Ripple.
Originally, Tron (website) was a decentralized content delivery platform. Music, video producers and artists of all kinds were to be given a decentralized platform on which they could trade and interact directly with consumers. Platforms like Youtube would become superfluous. However, this niche was soon crowded in the decentralized area as well, so Tron expanded its offering and started concentrating on dApps and online games.
Tron forecast: These factors can influence the price
There are some points that could have a positive impact on Tron’s price prediction for the coming years. Some of the most important are:
Upcoming updates: After the Odyssey 3.1 update in autumn 2018, which should make Tron faster and cheaper, two more updates are scheduled for next year. The Great Voyage update is scheduled for 2020 and Apollo is scheduled for mid 2021. These updates will allow content creators to further develop their brands. Tron also plans to offer users the opportunity to hold ICOs. Overall, the two updates are aimed at increasing the economics of the system.
- Boosting the gaming sector: TRON recently announced a $100 million gaming fund to be spent over the next three years, also known as TRON ARCADE. The fund will support game developers to develop more games for Tron.
- Partnerships: In the past, new partnerships triggered a number of price rises, especially for Tron. The platform has recently formed a number of partnerships with major players in the content and entertainment industry. These not only increase the popularity and the number of users, it could also draw the attention of other companies.
- Tron dApps: The dApps are a market that Tron wants to dominate. After all, Ethereum was initially considered the leader in this market. Since the launch of Tron’s own virtual machine in the fall of 2018, developers have produced a huge amount of dApps. While at the end of April 2019 there were still about 397 Tron dApps, today there are already 440.
Despite the many positive points that speak for a positive Tron price prediction, there are also some hurdles that could make Tron falter.
- Justin Sun: For some, the CEO and founder Sun is the face and brain of Tron. Critics, however, point out that the success or demise of the platform depends solely on him. If Justin Sun stumbles, this could be the downfall of the entire project.
- Established competition: Tron must stand out as a platform against the big centralized competition in the form of Facebook, Google Play and Instagram. In the decentralized area there are also enough potential competitors competing on the market. Tron’s success depends on how they can differentiate themselves from the multitude of competing products out there.
Tron price prediction 2019 – 2025: What do analysts say about the long-term trend?
Making a prediction about the price development of a crypto currency is a challenging task. The more you look into the future, the more speculative your estimates will be. The same applies to a Tron forecast. Nevertheless, some analysts and forecast websites have dared to make an assessment and come to the following conclusion:
- Cryptoground: The platform uses a deep learning algorithm that examines the past price development of Tron (TRX). Based on this calculation, they expect Tron to reach US$0.044 by 2020. This would correspond to a price increase of around 27% compared to the current price. In the following year 2021, the value will continue to rise and reach a value of about US$0.091. Tron’s long-term forecast is also positive. By 2024, a TRX will be worth US$0.1741, a price increase of over 400%. They see a crash of Tron as rather unlikely.
- WalletInvestor: This is where Cryptoground’s assessment would be contradicted. They see Tron as a bad long-term investment and believe that a crash cannot be ruled out. The last 12 months Tron had a declining cycle. In addition, trading in the bear market, where Tron currently appears to be, is generally considered unfavourable. Expressed in figures, this means a price of US$0.02 for Tron by the end of 2019. This downward trend is expected to continue. In 5 years, i.e. in May 2024, 1 TRX would only be worth US$ 0.0039. This corresponds to a price decline of over 88% compared with the current price.
- CoinSwitch: The chances for Tron to assert itself on the market are very high in the eyes of this website. A price of US$ 0.11 by the end of 2019 would be realistic. The year 2020, on the other hand, will be rather mixed for Tron, reaching a high of US$ 0.4 in July 2020. Thereafter, the Tron TRX price will follow a downward trend with some fluctuations and fall to US$ 0.24 by December of the year. According to CoinSwitch, the long-term Tron forecast depends heavily on mass acceptance and whether the platform can attract enough startups, artists and musicians. Should this succeed, Tron could end up at US$0.54 by 2023.