Tron is one of those interesting projects that is working on scalability. On the other hand, its token price TRX fell more than expected. While the crypto market gained today on average more than 8%, TRX rose by a mere 4%. This is a clear indication that Tron is underperforming compared to other altcoins. How could things continue now that the crypto market has risen again? Is the correction already over? Where should you start? Let’s explain everything you need to know in this Tron price prediction!
What is Tron (TRX)?
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Tron is a blockchain that aims to reduce the processing time of transactions. While Bitcoin and Ethereum are able to handle 6 and 25 transactions per second, Tron claims to be able to handle 2,000 transactions per second (TPS). It is a decentralized platform that hosts content sharing and entertainment. Back in 2018, Tron acquired the famous BitTorrent, a well-known website for file sharing.
In their list of goals, Tron is looking to build an all-in-one platform for file sharing through financial rewards, and allowing content creators (especially in the gaming industry) to monetize their work. They also are among the most popular blockchains to host decentralized apps (DApps).
Where to Buy Tron TRX token in 2022?
Today, there are many exchanges that offer TRX in their crypto listings. Here’s a list of the solid exchanges we recommend here at CryptoTicker:
Tron Price is Close to the Finish Line!
Tron price is close to the $0.04 – $0.045 target range. It sits currently around $0.055However, the price has seen rather less bearish price action over the past two days. Despite the current rather dovish price behavior which could herald a bottom, we still believe that the price could drop towards the support zone. We assume that the Bitcoin price is still heading for $30,000. So far, the course has not reached its target. As soon as it goes down again, the Tron course could be pulled along.
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Will Tron Price Continue to Fall Down?
The Tron price has been rather quiet in the past few days. However, during this phase, the price has formed a trend line. On top of that, the price has formed support at $0.055. This creates a descending triangle. We had a fake breakout yesterday that we can ignore on the chart. Once we break out of the descending triangle, we will see a touch of the $0.04 – $0.045 support zone for a subsequent move up.
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