Tron’s Disastrous November Ends with a Positive Note

  • Tron loses 21.42% over the last 30 days and got placed at $0.0157
  • It may witness a marginal betterment in December as far as the price trend is concerned

Tron (TRX) has shown a massive decline over the last month in the price against USD. The value is currently trading around 0.0157 USD, much below the starting point at 0.02005 USD. The TRX price trend has been through three major price swings in this period.

Tron Price Prediction:

TRX coin was being traded at 0.02005 USD on November 03, and over the next eight days, it lost 7.58% to touch 0.0185 USD. The next variation happened between November 14 & 25, and in these 11 days, Tron lost 35.69% and confined its price to 0.0129 USD. On November 25, TRX coin started showing signs of strength, and it managed to get a hike of 24.17% by December 01 and reached 0.0161 USD.

Tron (TRX) Price Chart

Tron’s 200 days MA stands at 0.015858 USD, and it’s 50 days MA is now at 0.015616 USD. Currently, Tron price stands at 0.01575678 USD which is 0.89% more and 0.64% less than the 50 days and 20 days moving averages, respectively.

Tron (TRX) Makes a 5.68% Hike in the Last 3 Months; Yet Miles behind the Monthly High

  • Tron gains 5.68% in the last 90 days; Yet Miles behind the Monthly High
  • It may find the next halt at the resistance point of 0.0168 USD

TRX’s last three months’ price movement pattern has been full of fluctuations and despite this volatility, Tron has gained 5.68% over the last 90 days. Tron has been through three major price variations in this period in the range between 0.0123 USD and 0.0224 USD.

Tron Price Prediction

TRX price was being traded at 0.0151 USD on August 29 and over the next 23 days, it gained 22.5% to reach 0.0186 USD. It was followed by another increment in the price between September 24 & October 30, and in these 35 days; Tron added 0.0101 USD and got placed at 0.02245331 USD, the highest in the last 90 days. It was followed by a slump in the value over the next 26 days that took the Tron price to 0.0131 USD by November 25.

Tron Price

Tron’s market cap on August 29 was 1.035 billion USD and over the last 90 days, it has been increased to 1.075 billion USD. The market cap also has been through tremendous pressure in the last 90 days.

Tron’s 200-days MA stands at 0.01509628 USD and its 50-days MA is at 0.01523465 USD. The current price of TRX coin is at 0.01604955 USD that is 5.34% and 6.31% more than the 50-days and 200-days moving averages, respectively. Tron’s next halt may come at the resistance of 0.0168 USD.

Tron (TRX) Resistance and Support Levels
1st Resistance $0.016807667
2nd Resistance $0.017466333
3rd Resistance $0.018534667
1st Support $0.015080667
2nd Support $0.014012333
3rd Support $0.013353667

Will Tron (TRX) Lose Further to Bears?

Tron was trading at $0.018325 on October 25, 2019, with an uptrend. It dropped the next day to $0.015984, but then, it showed a superb rise of almost 42%. The price movement of TRX coin since the end of last month was at the same pace without any major hiccups as such. The drop in TRX price started to begin from November 18, 2019 with the coin reaching $0.017148. The present scenario shows bears maintaining stand on the Tron.

Tron Price Prediction:

If we compare TRX coin’s price since the day before yesterday it presently indicates a downtrend of 10.53%. Tron may get traded close to its next support, $0.013666. It is a good time to buy some coins or hold the existing ones as per the trend noticed. $0.013 and $0.014 may be the values of TRX coin today. The past month for the coin has seen both the trends. October 27, 2019 until November 18, 2019 was the best period as prices were rising. Tron can yield better profitability if traded with a long-term focus.

Will Tron (TRX) Manage to Gear Up in the Near-term?

$0.019473 was TRX’s price as on November 15, 2019, with the bullish trend. Two days post the said date, Tron price reached $0.019012 and then showed a drop of 10.29%. There was a slight rise on November 20, 2019, when it reached $0.017174. While writing this analysis, TRX coin’s price trend remained bearish.

Tron price was $0.017174 on November 20, 2019, and presently it is at $0.015210 which shows negative trend by 11.43%. We advise you to hold TRX coins as per the trend till it gets some stability. The weekly trend for TRX coin shows a mixed trend as initially it was bullish, however since past two days the bears are dominating the coin.

Tron (TRX)

Resistance & Support Levels

R1: $0.016368, R2: $0.017313 and R3: $0.017963

S1: $0.014773, S2: $0.014123 and S3: $0.013178

Tron (TRX) Exhibits a Moderate Fall During the Quarterly Movement

Tron price movement in the quarterly period is demonstrating fall. The same is due to heavy market pressure. The current fall in TRX coin could be for some time, and it would start recovering again. To understand the movement in Tron, let’s have a look at the price chart for last 3-months.

Tron Price Prediction:

Tron price was at $0.01833 on August 21, 2019. The price fell to $0.015413 by the end of the month by 15.64%.

September started with a moderate momentum around $0.015. The price of TRX coin jumped to $0.01828 by 17.75% but later dropped to $0.0012 by 34.50%.

During the last few days of the month, the price returned to $0.0144 and closed. The month-long movement reflected 7.24% regression.

October started with an uptrend in the Tron. The price jumped to $0.01717, but later felt a pullback and fell to $0.01423 by 17.09%.

Further, TRX coin experienced a heavy uptrend and touched $0.0227 by 58.91%. The month closed at $0.019. The month-long movement was of 38.48%.

November exhibited a fall of 16.99% and touched $0.0166.

TRX price is anticipated to improve in the coming days. The intraday movement in Tron is, however, disappointing. The coin has dropped below the immediate support level at $0.0163.

Resistance Level Price
R1 $0.017066
R2 $0.017489
R3 $0.017766
Support Level Price
S1 $0.016366
S2 $0.016089
S3 $0.015666

Tron usually recommended for short-term traders, but we would suggest the traders to stay put as the coin is quite volatile. The current period might not give the desired result to the investors.

Will Tron (TRX) Continue Its Struggle Against the Bears?

Tron price is trying hard to regain its lost glory in the current bearish crypto market. The bears are in full control of the price, and there is continual fluctuation in its price as seen from the past seven day’s price movement. Though the week began on a good note, the price started moving below the baseline after that. For the last two days, the TRX coin tried to show a recovery. The price has been moving in the range of $0.018 – $0.020.

Tron Price Analysis

TRX price started with upward momentum, but with the bears around, the price went below the baseline as the week progressed. The price of Tron was at $0.0193 on November 13.

On the next day, the price shot up to $0.02015, with a hike of 4.33%. With the bears getting back, the price again had a fall on the same day and reached $0.01901 at 5.65%.

There was a slight upward swing on November 15 at $0.01948, the rise being 2.41%.

With the bear pressure being too strong, the price of TRX coin fell on the same day to $0.01840 to the extent of 5.45%.

After this, though the price was below the baseline, it still started showing a slow recovery at $0.01891 on November 17. The current day’s TRX price has fallen to $0.01858.

Tron-Price-Chart

TRX price had to bear the brunt of the bears in the ongoing crypto market volatility. According to analysts, this trend may continue for the short-term. Current Investors should keep holding on to their investments as there is no scope for gain in the current crypto market volatility. Day traders could make gains if they go with a cautious outlook.

Tron (TRX) Likely to Gain Control Over the Bulls

$0.019786 was the price at which Tron was traded on November 12, 2019, with the trend being an upward. On the same day, there was a fall of almost 3%, with TRX price reaching $0.019207. The price started to rise upwards, and it reached as high as $0.020302. With several sharp falls, it saw a drop of 6.32% the next day. The lowest price at which Tron was traded was $0.018287 yesterday.

Tron Price Prediction

If we compare the price of TRX coin since the trading value of yesterday, it is showing a bearish run by 4.17% currently. However, it looks like it may manage to rise upwards and reach its next resistance of $0.0187.

As per the present trend, we recommend holding some coins. The day’s range can be $0.0185 and $0.0187. Since past two days, the TRX coin has seen several rises and falls, and hence it is suggested to trade with a long-term plan. It may reach up to $0.020 in the upcoming months if it is able to maintain a consistent performance.

Tron Price

Tron’s Performance Remained Power Packed in Last 7 Days

  • Tron (TRX) experienced heavy pick-ups and drops during the week
  • The coin reflected huge potential amidst the fluctuating market

Tron has recently started reflecting price recovery. The coin was seen dropping to $0.014 during heavy market pressure in the last month. However, the coin is now dealing at $0.0195, and we are anticipating that the growth would sustain for some time.

Yesterday, Tron was seen dealing at a high of $0.02023 and dropping to a low of $0.01935. The volume of the coin is noted as $985,820,301. Let’s have look at the week-long chart of Tron to have a better understanding:

Tron Price Chart

The above-given chart of TRX coin is reflecting improvement in the price. On November 08, the coin was trading at $0.01949. The price closed at $0.1862 with 4.47% regression. The price jumped to $0.01897 by 1.87% on November 09. Further, Tron price picked jumped to $0.01943 by 5.44%. The currency suffered on November 11 as the TRX price counter was seen floating at $0.019090 by 1.77%. On November 12, the price jumped to $0.019740 by 3.40%. Yesterday, Tron price escalated to $0.02030 by 3.86%. Today, the currency is under huge pressure. The price is trading at $0.019500.

Tron Price Prediction

TRX coin holds high expectations of the traders to give a positive result in the future. The weekly chart is reflecting that the same might come true if Tron keeps the upsurge intact. Well, the story is totally different for the coin on the intraday chart. The price has crossed the immediate support level and is moving towards the next support level at $0.0190.

Resistance Level Price Support Level Price
R1 $0.020447 S1 $0.019568
R2 $0.020782 S2 $0.019024
R3 $0.021326 S3 $0.018689

The traders interested in Tron are recommended to go for short-term investment. The long-term seems a bit risky. Hence, we wouldn’t vote for the same.

Can Tron (TRX) Maintain Its Efficiency and Grow Further?

Tron price comparison since the past five days indicates that it is reflecting an uptrend today. It was priced at $0.019806 on November 8, 2019. On this day itself, there was a fall of 7.08%, with the coin being traded at lowest price of $0.018404. The TRX coin price continued to drop further until November 10, 2019. There was a growth of 5.60% despite the fall. There were few interim falls between November 11 and 12, but the coin was able to maintain its momentum.

Tron Price Prediction

Tron Price

Today, Tron shows an uptrend of 3.29% as compared to yesterday’s price. The same momentum is going to remain with TRX coin being traded at the price of $0.019563.

As per current movements, it is the best time to sell TRX coins, or you can hold the existing ones to gain better returns in the long run. It can be traded within $0.019 and $0.020 by the end of the day. If the Tron price continues to rise, the next major resistance level can be seen at $0.0204.

Resistance & Support Levels

R1: $0.019855, R2: $0.020097 and R3: $0.020483 S1: $0.019227, S2: $0.018841 and S3: $0.018599

Bitwise Appoints BNY Mellon as Bitcoin ETF’s Transfer Agent

Bitwise Asset Management appoints Bank of New York Mellon to be the administrator and transfer agent for its proposed Bitcoin ETF.

In the amended S1 form filed with the Securities and Exchange Commission on Wednesday, Bitwise named BNY Mellon as the administrator and ETF custodian, Foreside Fund Services as the marketing agent and Cohen & Co. as an auditor. However, Bitwise is yet to name a Bitcoin custodian, for safekeeping of the digital asset of the company.

As transfer agent, the role of BNY Mellon would be to exchange shares and respond to shareholders and also maintain accounts.

Bitwise and NYSE Arca sought the permission of the SEC to launch a bitcoin ETF in January 2019. After several delays, the market regulator is still to give its verdict on the application; the due date for any decision of the SEC is on October 13.

Earlier this week, SEC chairman Jay Clayton voiced his reservations regarding the approval of Bitcoin ETF, telling CNBC that questions around custody and market manipulation have yet to be resolved. To this, COO of Bitwise investment Teddy Fusaro replied by saying that “We continue to work towards answering all of the significant questions that the SEC needs to be answered before they are ready to approve a bitcoin ETF.”

Along with the filing of company names, Bitwise also proposed that the Bitcoin ETFs should be treated as a property for taxation. This opinion was seconded by Vedder Price P.C., a New York law firm.

BNY Mellon, a global investment company, basically deals with helping its clients manage their financial assets. Before being named by Bitwise to manage their digital asset, BNY Mellon has partnered with Intercontinental-backed Bakkt to facilitate their ‘private key storage for its Bitcoin futures contract.’

Bitwise Asset Management was founded in 2017 in San Francisco. They are a pioneer in the world of cryptocurrency, building the first-ever cryptocurrency index fund. They are also one of the leading providers of ‘rules-based exposure to the crypto asset space.’