Tron (TRX) Price Prediction For 2019 Q2, Q3 And Q4. Know When to Hodl or Quit - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News
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Today's Gazette – Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Tron (TRX) Price Prediction For 2019 Q2, Q3 And Q4. Know When to Hodl or Quit


Tron (TRX) Price Prediction For 2019 Q2, Q3 And Q4. Know When to Hodl or Quit

One of the major cryptocurrencies that is being heard most lately is Tron (TRX) token (we can see it in the exchanges under the TRX identifier). Tron is the cryptographic project and Tronix is ​​the cryptocurrency behind it to make it viable.

The main objective of Tron is to form an entertainment content ecosystem based on Blockchain whose storage is distributed. Any user can distribute any type of content on the Tron network: videos, images, music, etc. And the best thing of all is that this content will be distributed throughout the network, so that it does not depend on a centralized server.

Why is this important? The main advantage is that it does not depend on a third party: the owner of the digital content is the user, the distribution network will be less important.

Tron’s project aims to give it a spin so that content authors can distribute it without having to share revenues with the network. Tron (TRX) is the cryptocurrency behind Tron that will be a bargaining chip on Tron’s network so that consumers can pay content creators.

On the other hand the Tron Foundation pursues the idea of ​​building a totally decentralized Internet. The Tron protocol aims to be an operating system based on Blockchain that offers scalability, high availability and allows many operations per second in the decentralized applications of its ecosystem.

Tron was founded in September 2017 in Singapore. Its founder, Justin Sun, spent more than two years at Ripple Labs, a company that gave him some necessary knowledge to found this project. On the other hand, the project is somewhat backed by Jack Ma, the world’s richest Chinese president of the Alibaba Group.

Tron (TRX) Technical Analysis

In our last post we conducted a study of the possible entry scenario for Tron (TRX) to Q2 2019. When there are hours left for that entry, we will recount what will be the pattern of the eleventh cryptocurrency of the market by market capitalization.

For this, remember the aforementioned chart and its possible bullish scenario indicated in it for the first month of the next quarter.

Tron (TRX) Technical Analysis

In our case, we had indicated a possible crossing of the exponential moving average indicators projecting an upward trend of the cryptocurrency to levels of R1.

To analyze medium and long term cryptocurrencies, w’lle focus on Tron’s 1D chart. The cryptocurrency from the date of July 2018 has a similar pattern (see scenario A and B). If we clearly observe the inflection point in November 2018, it marks the beginning of the current pattern that we are observing, which according to the timeline should be concluding in this Q1 2019.

Also Read: China’s Largest Research Body Says Tron (TRX) Is A ‘Low-Level Public Chain With High Throughput’

Now, how to know if TRX will have an upcoming bullish or bearish pattern in the remainder of 2019. For this we analyze the scenarios with the bar pattern and the RSI whose cyclical behavior in the highs and lows allows us to infer the next pattern change and its tendency.

Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis

With the previous graph, we must rescue two important points for our analysis:

  • The RSI fell to oversold levels (RSI <20), 122 days after developing the analogous pattern between A and B.
  • The inflection point in the price of the TRX / USD pair coincides with the lowest RSI level in the period studied, which was projected one week before the RSI = 15.6 occurred on November 20, 2018.
  • The average price of the asset moved between the bands of maximum $ 0.0288 and minimum $ 0.0118 (average price of $ 0.0203).
Also READ  XRP, Tron (TRX), Stellar (XLM) Price Prediction: Is the Bullish Trend Here?

According to this data, we’ll tried with the 4H chart to establish some kind of analogy between the patterns found.

Tron (TRX) Technical Analysis

From the previous projection, we highlight the following:

  • The price should move at an oscillating average of $ 0.0227 per unit. This is due to two factors: (1) the perfect triangle cut that indicates the start of the new repetitive pattern for the next 122 days and (2) its value coincides with the % depreciation of pattern A in relation to pattern B at -28.5% of the maximum recorded before of its cyclical behavior (A, B and now C that started on March 29, 2019).
  • According to the repetitive pattern of RSI, on average TRX will experience maximums close to the point of R1 approximately every 18 days, after an oscillating change, within the band of S1 ($ 0.021) and R1 ($ 0.03).
  • The Q2 2019 ends with the projected C pattern.
  • TRX minimums should be produced approximately every 50 days according to the pattern indicated above in the prices and RSI.

To conclude, the scenario for the rest of 2019 is not discouraging.

Tron (TRX) Technical Analysis

Tron promises to reach end-of-year highs of almost half a hundred dollars per unit and this is based on the previous graph according to the factors mentioned above with the provision that the scenario of pattern D is coincident with the cutoff of maximums and minimum values for the beginning of Q4 that marks the upward trend from average levels of Q3 ($ 0.034) to Q4 ($ 0.0443).

The previous pattern is further supported by the Elliot Wave projecting triple combination which started at the end of Q1 2019 until the end of Q4 2019, with the oscillating movement between the average price of Q2 and its maximum level of resistance set ($ 0.0443).

Also Read: In Just A Day Tron (TRX) Users Spent $31 million USD on DApps

In conclusion, the cryptocurrency of Justin Sun should not present problems for a sustained growth at the end of the year, which will be much more promising for the coming 2020 once the use cases that the TRON team can generate are consolidated. Undoubtedly, dAPPs and BitTorrent tokens style, are great examples.

Main features of Tron (TRX) 

The main characteristic that identifies Tron is the transaction speed that the network has. According to the team, the Tron network allows processing of 2000 transactions per second, 80 times more than the Ethereum network and 400 times more than the Bitcoin network.
The minimum unit of TRX is sun, and the equivalence is 1 TRX = 1,000,000 sun.
Another interesting feature is that Tron offers smart contracts, as Ethereum does.

Tron (TRX): Project status

The Tron development team is one of the most active in the crypto scenario. Currently it already has its own Wallet and at the time of writing this article, it has more than 550 active nodes around the world, and it launched its Mainnet at the beginning of 2018.

On the other hand, the team behind the project offers succulent rewards to developers who find bugs in their platform or who collaborate in the development of their ecosystem.

The TRX cryptocurrency is active for acquiring on most popular exchanges such as Binance, Huobi, OKEx or HitBTC among others.

Tron (TRX) Fundamental analysis

Since its establishment, TRON has generated great expectations about the operation of its digital content network. Also, its technical team is one of the most complete in the cryptosphere, led by the great millennial Justin Sun, one of the most popular characters in the industry. With a severe bearish correction in 2018, prospects have changed for many operators.

Also READ  Tron (TRX) Price Prediction For May 2019: Expect A Resistance Break With 72% Price Flourish

Also Read: Bitcoin (BTC), Litecoin (LTC), BCH Price Prediction: A Foray Into The Weekend. Aroon Uptrend?

However, the digital currency market is a complex and very volatile environment. This is demonstrated in the balance sheets of 2017 and 2018, the first extremely bullish and the second with severe generalized corrections. Thus, the TRX price shows movements in both directions, with a well-defined history, which allows the study of projections for TRON more viable.

Here are some of the reasons why the option to buy Tron could become a good decision in the future:

  • The team behind this project is made up of several well-established Chinese and other world’s citizens entrepreneurs and developers. The cryptographic project is focused on the world of digital entertainment and is led by one of the most prominent figures in the industry, Justin Sun.
  • In June 2018, Tron launched its own official Blockchain, breaking away from Ethereum and becoming a cryptocurrency (formerly token ERC20).
  • The main network of Tron provides a number of transactions per second much higher than other networks such as ETH.
  • The marketing team of Tron is very active and they organize events frequently, which helps to keep a good image about this altcoin. One of the last events was the niTROn conference.
  •  Its development environment is quite friendly and useful for new users.
  • The infrastructure of the system guarantees distribution of digital assets backed by a complete set of decentralized structures.
  • Likewise, it carries out activities such as «burning of currencies» that help to maintain its quotation at better levels.
  • They will soon incorporated a Stablecoin attached to the dollar into their Blockchain to help stabilize their token as well as creating better impression in the heart of investors.
  •  Tron has just acquired an app marketplace known as the first global blockchain applications store to step up its decentralization Vision.
  • For Tron, the combination of BitTorrent and CoinPlay is a standing ovation.

Tron (TRX) Work plan: there is still a lot left for development

The story of Tron is just beginning. With little more than half a year since the launch of its own network, (stage known as «Odyssey»), there is still much to be done in terms of development and adoption. However, Tron has not wanted to make its “road map” public in the long term. But there are already people who handle privileged information and have disclosed the prospects of the project in the future.

There would still be 4 phases for the future of Tron, which is schematized in the long term. Its development would extend to the stage of stabilization and mass adoption, known as “Eternity”, whose completion is planned for 2037. In 2020 the Great Voyage stage would begin, where TRON could become an ecosystem capable of launching ICOs. Then, Apollo and Star Trek stages, to finally enter the icing on the cake: Eternity.

Disclaimer: This article is not intended as a financial advice, and should not be taken as such. Todays Gazettes will not be accountable for any financial gains made or losses incurred if used as a financial advice. Readers are expected to do adequate research before investing in any cryptocurrency.

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