01 Mar 2021 #TRON
If you are looking to trade or invest in the cryptocurrency that has a dynamically developing blockchain ecosystem and the team, especially its chief Justin Sun, that always comes with attention-grabbing initiatives that could sometimes stir a good deal of controversy, then look no further than TRON (TRX), a token that fuels the blockchain platform for the censorship-free content creation and sharing.
The past year hasn’t been too fruitful for TRX, especially on the back of the magnificent performance of Bitcoin (BTC), Ethereum (ETH), and the DeFi bunch. However, our proprietary TRON price prediction algorithm suggests that the coin still packs a punch, thanks mainly to the thriving blockchain ecosystem and great fundamentals in general, and holds a lot of upside potential that is going to be realized within the next five to ten years, giving the TRX price in USD a deserved boost.
As already mentioned, TRX’s performance throughout 2020 has been somewhat underwhelming, especially in comparison to the two dominant cryptocurrencies and a group of altcoins that made several hundred percent gains over the last twelve months. But TRON’s historical chart shows that the price is still being held firmly by the bears as it remains below the multi-month resistance at $0.05 after a couple of failed attempts in 2020.
TRX historical chart. Source: Coinmarketcap
Obviously, TRON’s highest price level at $0.302, obtained over the course of the inflating period of the infamous crypto bubble of 2017-2018, remains light years away - 91% from its current standing, to be precise. However, the relatively weak performance in the last couple of years also hints at a lot of untapped upside potential that is going to be realized over the course of the ongoing bullish cycle that should last a lot longer than the previous flash-and-crash market of 2017. But before the price of TRON finally enters the phase of exponential growth, it will experience, according to our price prediction, some more sideways or even bearish price action.
As things stand, TRX is priced at $0.028, established after a period of high volatility that commenced last August after the price had violently broken the long-standing resistance at $0.024, which since then became the area of firm support.
1-year TRX chart. Source: Coinmarketcap
Upon the breach of the said resistance, TRX had exploded to $0.03 - $0.04 on two occasions but was ultimately pressurized down to $0.024 during the final quarter of 2020, which had proven to be highly volatile. Our 30-days TRON price chart clearly shows that the coin has been gridlocked inside the range between $0.0325 and $0.0275, with a single episode of stop-loss hunting, which saw the price collapse briefly to $0.025 only to take out the stop-losses of inexperienced cryptocurrency traders, and form what appears to be the head-and-shoulders pattern.
30-day TRX chart
The TRX price analysis on the weekly time frame tells that the year 2021 is likely to begin on a sour note for the altcoin under review as we see the mounting selling pressure as the price had failed to reach $0.04 after an excruciatingly long period of consolidation near $0.025. This failed attempt to establish a new higher high just before the year’s close has led to the emergence of the symmetrical triangle.
1-week TRX/USD chart. Source: Tradingview
So, if you were wondering whether now is the right time to invest in TRON, we would advise against jumping head-first into this market until the symmetrical triangle is being resolved, mainly because there is too much evidence of the presence of strong sellers in that market, who are likely to keep the price of TRX under the lid during the next few weeks or even push it to the downside a bit in an attempt to make a bearish trap.
This technical analysis is coincident with the suggestion from our algorithm, as well as the showings of our proprietary Crypto Volatility Index (CVIX), which helps us gauge the general sentiment of market participants that helps deliver the most accurate TRON price prediction for the next 5 and 10 years.
Right now, CVIX is at 44 and flashing yellow, which conforms with the behavior of the ATR indicator that forecasts the period of mild volatility in the next couple of weeks, during which the TRX price will keep on trying to resolve the symmetrical triangle. However, TRON can’t ignore the direction in which the entire cryptocurrency market is moving, which means that the probability of the continuation of the bearish period is quite low.
The price prediction model tells us that within the next 7 to 10 days, the price of TRON in USD is going to decrease by 8%, forming the bearish trap we’ve mentioned earlier. Once that trap occurs, it would present the best opportunity to buy TRON on a dip, because once the unwanted “passengers” will have been dropped off, the TRON price chart is likely to get colored green.
In a span of a month, TRON is going to have a price appreciation of 12%, putting its USD value at $0.032 and marking the successful breakout of the symmetrical triangle to the upside. These aren’t the gains that have been recently showcased by the likes of Bitcoin (BTC), Ethereum (ETH), and Theta Token (THETA), but it also might hint at the calm before the bullish storm because such a highly-ranked altcoin can’t sit on the sidelines for long, while the rest of the market is in a state of bullish frenzy.
1-year TRX prediction chart
This assumption is substantiated by our algorithm, which forecasts that by the end of the first half of 2021, the price of TRON will get a significant boost from the buyers who are going to propel the value of TRX to $0.47. Such a respectable growth is likely to be incentivized by improvements in fundamentals, most notably, the roll-out of the Apollo upgrade that is due to happen in late 2021 - early 2022, which we will touch upon later. By the end of 2021, TRX will arrive at the price level at $0.056, thus marking the 100% value appreciation.
To summarize, should the cryptocurrency market retain its bullish stance throughout 2021, the likelihood of which is reasonably high, given that the large institutional players have finally begun to recognize the inherent value of blockchain and its offsprings, cryptocurrencies, though they have been focusing primarily on buying Bitcoin en masse. Nevertheless, it’s known that the market follows where BTC goes, so 2021 holds the promise of a sustainable uptrend that will soon be joined by TRON.
What will be the price of TRON in the next 5 years? That’s the question that bothers all TRX traders and holders since this altcoin hasn’t been at its best lately. But we would like to assure you that the altcoin is going to do well, especially if the team behind it quits being sluggish when it comes to the introduction of crucial network upgrades, and refrains from being involved in different controversies like the one with the allegedly plagiarized whitepaper.
5-year TRON price prediction chart
When it comes to the TRON price prediction, our algorithm displays a promising outlook for the next five years as the value of the coin will continue to appreciate almost ceaselessly.
Like with all other long-term cryptocurrency price predictions, we’ve based this one around the analysis of key fundamental factors that are going to exert a significant influence on the price action.
Last year marked the unprecedented rise of blockchain adoption, which will undoubtedly get into gears in the next five years, thanks primarily to the introduction of central bank digital currencies (CBDC), built on the foundation of this revolutionary technology. But the adoption of blockchain by large financial institutions and governments will shape the overall trend for the cryptocurrency industry, while TRON will thrive in totally different, and arguably more promising, areas, namely content creation, gaming, and gambling. And while it might not sound as sophisticated as CBDC and global finance, the reality is that those three areas have long proven to be the most appreciative of blockchain and its solutions, while not being constrained by the regulatory shackles.
The content creators have long been suffering from what we call the digital dictatorship of large social media and video hosting platforms, namely YouTube and Facebook. Their draconian monetization policies, huge data security breaches, and sometimes mindless censorship have scared off thousands of talented content creators, who migrated to Steemit (the decentralized blogging platform owned by TRON Foundation) or DTube (the alternative to YouTube, owned by the same organization).
This trend has been going on for a couple of years now and will only intensify in the next five years that will play into the hands of Justin Sun and his TRON Foundation, and will have a positive effect on the price of TRX. Of course, TRON faces very strong opposition in this particular niche, coming from the likes of THETA, Hive, Mamby, Narrative, and Appics, but it has more than enough intellectual and financial resources to establish a strong presence there in the next five years. TRON Foundation is likely to get the upper hand here after the release of the mentioned Apollo upgrade that will provide means for contents producers to create their unique tokens on the TRON blockchain that should substantially boost the user engagement and greatly incentivize the token economy that will reflect positively on the price of TRON in USD and BTC as well.
But the main rivalry lies in the field of the decentralized application (dApp) creation, where TRON faces the behemoth that is Ethereum, which currently accommodates nearly twice as many dApps as TRON and has recently launched the initial phase of its huge network upgrade dubbed Ethereum 2.0. The list of this organization’s other top competitors include Quadrant, Bigchain, Brave, and Lisk, but TRON is likely to keep and even increase its market share by 2025, adding more Xs to the TRX price in the next five years.
Justin Sun’s main ace card in this situation is the proven speed and scalability of his blockchain network, as well as the better transaction throughput, something that Ethereum has been struggling with for years. Should the Foundation properly adjust its incentive and governance mechanisms, TRON will have all it needs to become an indispensable part of the cryptocurrency industry by offering the most efficient layer-2 solution on the market and ultimately substantiate the rise of TRON price to new heights above the all-time high.
Besides, this organization is actively establishing an extensive network of business partners that currently includes Samsung, Opera, Swisscom Blockchain, and Poloniex. We are certain that over the next five years, a lot of other prominent brands will supplement this list and provide TRON with means for staying in the top crypto league. Let’s not forget that there are several side projects like BitTorrent and Steem that will allow this blockchain to remain relevant for years to come.
But gaming and gambling are the playgrounds where TRON can really thrive because hardly any other blockchain project has provided a better solution for the provably fair gambling that allows the bettor to check the hashed records of all hands, spins, and deals in real-time, and assure himself of the non-corruptness of the random number generator (RNM). TRON’s blockchain products have already been widely incorporated by numerous online gambling platforms, especially during the COVID-19 crisis that forced many brick-and-mortar casinos to migrate online.
There are two major upgrades in fundamentals that will take place in the next five years. The first one is called Star Trek, and it should arrive sometime in 2023 and introduce a new platform for decentralized gaming and forecasting. The final upgrade on TRON’s roadmap is Eternity - it will ensure the unseen before level of decentralization across the gaming industry and will also allow the participants to carry out the fund-raising campaigns on the blockchain and monetize the content produced by entire communities.
All in all, the next five years won’t be easy for TRON as it will have to face a lot of challenges and outperform the competitors, but the focus on the gaming industry will allow this coin and the organization behind it to thrive.
Our analysis shows that TRON will retain its position close to the top of the global cryptocurrency ratings throughout the years, though it might fall out of the top 10, superseded by more innovative blockchain projects. Nevertheless, as the world is going to become more virtual, with the growing share of gaming and gambling, TRX will see its price heading upward until the very end of the global bull market, which we presume would happen in 2027 - 2028.
By that time, TRX is likely to reach $0.9 and even take a shot at an immensely strong psychological price level at $1, ultimately beating it by a small margin. Whether TRX would establish a strong foothold there or drop back to $0.6 or $0.5, which we believe is the fair value of this particular cryptocurrency, will depend on how viable the expected upgrades and solutions would be, especially in comparison to its main competitors like Ethereum.
You buy TRX now as its price will get back to bullish ways in 2021, but it would be better to have some patience and buy when the price drops another 8%.
TRON’s blockchain is fast and scalable, while the company offers a number of interesting solutions for the industries of gaming, gambling, and dApps creation.
In 2021, TRX will finally get onto the bullish wagon and see its price rise to $0.056.
By the end of 2025, the price of TRX will stand at $0.64.
If the TRON Foundation successfully implements the remaining two upgrades (Star Trek and Eternity) and extends its business network, the price of its native cryptocurrency will have decent chances of rising to $1.
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