Tron (TRX) Price Prediction And Analysis In April 2020

By looking at some of the historical prices and market forecasts for TRX, we will try to compose a Tron price prediction for April 2020.

Tron Overview

TRX is the native coin of the TRON blockchain network, which has a current rank of 15th according to a market cap of $746.793.865 and a price of $0,011199. The 24-hour trading volume of the coin is $974.299.420. There are currently 66.682.072.191 TRX circulating on the market out of a total supply of 99.281.283.754 TRX.

Tron Price Prediction: Analysis

The price of Tron is still not showing a significant bullish move, as the rest of the altcoins are still experiencing sideway movements within the channel.

On March 12^th, when the entire crypto market plunged amid Bitcoin’s crash, Tron also followed and went from $0.014 to $0.008759. The following week, the coin struggled to stabilize itself above the $0.010 resistance level, fluctuating at $0.009 levels. On March 20^th, TRX started aiming for the $0.012 resistance level, but since then, the TRX/USD pair kept on trading mostly between $0.010 and $0.011 until today.

Today, March 30^th, TRX is trading at a price of $0,011199 with an increase of 0,38% in the last 24-hour period.

In order for Tron to see an upsurge, the coin would likely have to surpass the nearest resistances at $0.012, $0.014, and $0.016. But a downward trend could place TRX at $0.008, $0.006, and $0.004 supports levels if the coin breaks under $0.010. The RSI is maintaining its sideways trend and is above the 40-level, which indicates uncertain movement.

Tron is still trading negatively when compared with BTC, as the bulls are trying to drive back prices again.

The resistance, pivot, and support levels calculated by WalletInvestor are:

• Resistance Level (R3): 0.0124
• Resistance Level (R2): 0.0122
• Resistance Level (R1): 0.0118
• Pivot Point: 0.0116
• Support Level (S1): 0.0112
• Support Level (S2): 0.0110
• Support Level (S3): 0.01064

Developments

The newest development of the Tron project aimed at furthering its cryptocurrency adoption is a new collaboration with digital remittance company, Metal Pay. This partnership will enable US customers of the platform to instantly purchase TRX.

This will allow US-based traders to easily buy TRX on the Metal Pay mobile app with fiat currency by using their Visa debit cards or bank account. TRX can also be converted into 20 other cryptocurrencies, which are on the app’s supported list of assets.

Metal Pay also has support for Bitcoin (BTC) and Ethereum (ETH), which are both available for TRX trading from within the app. The founder and CEO of TRON, Justin Sun, stated:

“Whether it be for users or developers, we care about convenience before everything. We will always serve our community by providing users with secure, fast, and simple access to TRX. With Metal Pay, we have created the fastest TRX transaction infrastructure while maintaining world-class security.”

The Founder and CEO of Metal Pay, Marshall Hayner, has also remarked that the immense potential of Tron as a blockchain company is what prompted Metal Pay to initiate this collaboration and to ultimately create more improvements for the future.

”I believe that TRON shows incredible promise for blockchain technology and decentralized systems, and I’m excited for the chance to work with them as we build the future,” stated the CEO.

The Tron Foundation announced today that they have launched their own MakerDAO-like stablecoin system called “Djed.” The new stablecoin called “USDJ”  is tethered to the value of USD and is backed by collateral assets, including TRX.

“USDJ is a new currency generated through decentralized smart contracts on the TRON network. Anyone can pledge TRX as collateral to generate USDJ. USDJ enters into free circulation as any other cryptocurrency does once generated. It is pegged to the US dollar through Collateralized Debt Positions (CDPs), and also has autonomous feedback mechanisms,” read the coin’s whitepaper.

Tron Price Prediction: Market Opinions for April 2020

To give our readers a better sense of the market sentiment for TRX, we have featured below some of the sites and their respective Tron price predictions for April 2020.

Tradingbeasts

Tradingbeasts expects TRX to debut in April at a price of $0.0142733, with a maximum price for the month of $0.0175034 and a minimum price of $0.0119023. The site projected a closing price for TRX of $0.0140027, change for April 24.87%.

Previsionibitcoin

Previsionibitcoin predicted that TRX will be trading at approximately $0.015883 in April 2020.

WalletInvestor

WalletInvestor has made a Tron price prediction for the first nine days of April, as well as the possible maximum and minimum prices for each day.

Cryptoground

Cryptoground forecasted that TRON would be trading in the first week of April at $0.0165, with a 53.50% rise. The site also projected that TRX will be trading, in one month, at a price of $0.0164, with an increase of 52.54%.

Cryptorating

Cryptorating expects Tron to trade at around $0.004255 in the first week of April, which would signify a change of -60.41%. By the end of the month, TRX is forecasted to drop by -68.61% and hit $0.003374.

Digitalcoinprice

Digitalcoinprice projected that Tron would be trading in April at a value of $0.02327308, which means a change of 117.22%.

Coinpredictor

Coinpredictor foresees that in the first week of April, TRX will lose 14.3 % and trade at around $0.013695, and in one month, the price of Tron was calculated at around $0.020678, with an increase of 29.4%.

Gov.capital

Gov.capital’s TRON price prediction for the start of April is $0.00520, with a possible maximum of $0.00598 and a minimum of $0.00442. The site also issued price predictions for the rest of the days of April.

Altcoinforecast

Altcoinforecast‘s TRX price prediction for April places the crypto at a price of $0.011 at the start of the month. The closing price for TRX was calculated at $0.0094.

Bitverzo

Bitverzo anticipates that TRX will have a price of $0.011541 on April 1st, with a minimum price of -0.024139 and a maximum price of $0.047381. The crypto site has also launched TRX price predictions for the rest of the days of April.

Tron Price Prediction: Verdict

This is the conclusion of our Tron price prediction for April 2020. We hope the data featured above will prove useful to you and your future TRX trading strategies.

Featured image: blokt.com