TRON (TRX) Price Prediction 2023 — Will TRX Hit $0.08 Soon?

TRON (TRX) Price Prediction 2022 — Will TRX Hit $0.2 Soon?
  • Bullish TRX price prediction for 2023 is $0.09413 to $0.06399.
  • TRON (TRX) price might also reach $0.08 soon.
  • Bearish TRX price prediction for 2023 is $0.05011.

In TRON (TRX)  price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about TRX to analyze the future movement of the cryptocurrency. 

TRON (TRX) Current Market Status

Current Price $0.054273
24 – Hour Trading Volume $153,282,787
24 – Hour Price Change 0.9% down
Circulating Supply 91,984,787,077
All – Time High $0.231673 (On January 05, 2018)  
TRX Current Market Status (Source: CoinGecko)

What is TRON (TRX)?

TRON (TRX) exists as the native crypto coin on the TRON blockchain. TRON was founded by Justin Sun and is managed by the TRON Foundation. Initially, TRX was launched as an ERC-20 token on the Ethereum blockchain in 2017. Later in 2018, TRX migrated onto its native blockchain. TRON blockchain runs based on the delegated proof-of-stake (DPoS) consensus mechanism.

TRON (TRX) is utilized as a governance token on the blockchain granting voting rights. It is also deployed as credit card payments too. Even more, TRX continues to stay as a potential payment option for content creators.

TRON (TRX) Price Prediction 2023

TRON (TRX) holds the 16th position on CoinGecko right now. TRX price prediction 2023 is explained below with a daily time frame.

TRX /USDT Descending Triangle Pattern (Source: Tradingview)
TRX /USDT Descending Triangle Pattern (Source: Tradingview)

The above chart of TRON (TRX)  laid out the descending triangle pattern. This pattern is often regarded as a characteristic of a bearish trend. It is formed by the upper trend line that connects the highs and a horizontal trend line connecting the lows converges to form a triangle. If the price action breaches the lower support level, the bearish trend would be sustained. 

Generally, descending triangle pattern indicates the reversal of an uptrend or the continuation of the downtrend. Traders keenly look out for a significant breakout point.

Currently, TRON (TRX)  is in the range of $0.05462. If the pattern continues, the price of TRX  might reach the resistance levels of  $0.06551 and $0.08871. If the trend reverses, then the price of TRX may fall to $0.04965.

TRON (TRX) Support and Resistance Levels

The chart below shows the support and resistance levels of TRON (TRX).

TRX /USDT Support and Resistance Levels (Source: Tradingview)
TRX /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for TRON (TRX).

Resistance Level 1 $0.06399
Resistance Level 2 $0.07712
Resistance Level 3$0.09413
Support Level $0.05011
TRX Support & Resistance Levels

The charts show that TRON (TRX)  has performed a bullish trend over the past month. If this trend continues, TRX might run along with the bulls overtaking its resistance level at $0.09413.

Accordingly, if the investors turn against crypto, the price of TRON (TRX)  might plummet to almost  $0.05011, a bearish signal.

TRON (TRX) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of TRON (TRX)  is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of TRX lies below the cutoff line, indicating weak participants in the current trend.

TRX /USDT RVOL, MA, RSI (Source: Tradingview)
TRX /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of TRON (TRX)  is shown in the chart above. Notably, TRON (TRX)  price lies below 50 MA (short-term), so it is in a downtrend. Currently, TRX has entered a bearish state. Therefore, there is a possibility of a reversal trend of TRX at any time.

Meanwhile, the relative strength index (RSI) of the TRX is 50.07. This means that TRON (TRX)  is in an overbought state. However, this means a major price reversal of TRX may occur in the upcoming days. So, traders need to trade carefully. 

TRON (TRX) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of TRON (TRX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

TRX /USDT ADX, RVI (Source: Tradingview)
TRX /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of TRON (TRX). Currently, the ADX of TRX lies in the range of 7.23557 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of TRON (TRX). RVI measures the constant deviation of price changes over a period of time. The RVI of TRX lies above 50, indicating high volatility. In fact, the RSI of TRON (TRX)  is at 50.85 thus confirming a potential sell signal.

TRON (TRX) Price Prediction 2023 — ADX, RVI

BTC Vs ETH Vs TRX  Price Comparison (Source: Tradingview)
BTC Vs ETH Vs TRX Price Comparison (Source: Tradingview)

From the above chart, we can interpret that the price action of TRX is in a similar trend with respect to BTC and ETH. This indicates that when the price of BTC and  ETH increases, the price of TRX increases. And when the price of BTC and ETH decreases, the price of TRX decreases.

TRON (TRX) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of TRON (TRX) between 2024 and 2030.

TRON (TRX) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses, TRON (TRX)  might probably attain $0.1 by 2024.

TRON (TRX) Price Prediction 2025

With several upgrades in the network, TRON (TRX) might enter a bullish trajectory. If the coin grabs the attention of major investors, TRX might rally to hit $0.3 by 2025. 

TRON (TRX) Price Prediction 2026

If TRON (TRX)  sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, TRX would rally to hit $0.5.

TRON (TRX) Price Prediction 2027

If TRON (TRX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, TRX would rally to hit $0.8.

TRON (TRX) Price Prediction 2028

If TRON (TRX) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, TRX would rally to hit $1.

TRON (TRX) Price Prediction 2029

TRON (TRX) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, TRX would hit $3 in 2029.

TRON (TRX) Price Prediction 2030

If investors flock in and continue to place their bets on TRON (TRX), it would witness major spikes. TRX might hit $5 by 2030.

Conclusion

With continuous improvements in the TRON network, we can say that 2023 is a good year for TRX. For this reason, the bullish price prediction of TRON (TRX) in 2023 is $0.09413. On the other hand, the bearish price prediction of TRON (TRX) for 2023 is $0.050111.

Furthermore, with the advancements and upgrades to the TRON ecosystem, the performance of TRX would help to reach above its current all-time high (ATH) of $0.231673 very soon. But, it might also reach $0.08 if the investors believe that TRX is a good investment in 2023.

FAQ

1. What is TRON (TRX)?

TRON (TRX) runs on its native TRON blockchain which was launched in 2018. It is based on the delegated proof-of-stake (DPoS) consensus mechanism.

2. Where can you purchase TRON (TRX)?

TRON (TRX)  has been listed on many crypto exchanges which include  BitMEX, Wazirx, Kucoin, Poloniex, and LBank.

3. Will TRON (TRX) reach a new ATH soon?

With the ongoing developments and upgrades within the TRON Platform, TRX has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of TRON (TRX)?

On January 05, 2018, TRON (TRX)  reached its new all-time high (ATH) of $0.231673.

5. Is TRON (TRX) a good investment in 2023?

TRON (TRX)  seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of TRON in the past few months, TRX is considered a good investment in 2023.

6. Can TRON (TRX) reach $0.08?

TRON (TRX)  is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues the TRON (TRX) will hit $0.08 soon.

7. What will be TRON (TRX) price by 2024?

TRON (TRX) price is expected to reach $0.1 by 2024.

8. What will be TRON (TRX) price by 2025?

TRON (TRX) price is expected to reach $0.3 by 2025.

9. What will be TRON (TRX)  price by 2026?

TRON (TRX) price is expected to reach $0.5 by 2026.

10. What will be TRON (TRX) price by 2027?

TRON (TRX) price is expected to reach $0.8 by 2027.       

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.