Crypto Tron (TRX) Up Or Down? Here's The TRX Price Prediction

TRX crypto price prediction (Cryptototem)

JAKARTA – The crypto market has experienced a decline in the last few days. Traders made a massive sell-off. This also happened to Tron (TRX). Will the price of Tron go up? Currently, TRX is trading at Rp1,224. Tron once broke its all-time high price in 2018, touching the level of Rp3,111.

For information, Tron is a blockchain project owned by Justin Sun. In addition, Sun is also the owner of BitTorrent (BTT), which has experienced rapid growth in recent years. TRX and BTT cannot be separated from the condition of falling prices for both. The recent decline in crypto prices was triggered by the Fed's plan to raise interest rates and tighten monetary conditions.

Even so, the activity in the Tron network is quite strong. Data reports from TronScan prove the total value of staked TRX in the network is worth more than 10 billion US dollars. Meanwhile, the number of locked Tron coins has increased to over 29 billion.

In addition, online transactions also increased by more than 2.6 million. Likewise, the number of accounts increased to 66 million. TRX boss Justin Sun will reportedly hold a press conference to discuss the BTS platform which was launched on December 12 yesterday.

A report from InvestingCube reveals that the TRX/USD pair based on its chart is predicted to form a double-top pattern around US$0.093 or Rp1,288. In recent days TRX has been moving below the 25-day and 50-day EMA moving averages. The MACD indicator has also moved below the neutral level.

Hence, the pair is likely to continue falling as the bearish moment targets the next major resistance at 0.08 US dollars, which is around 5 percent below the current level. This view will be invalidated if the price rises above the key resistance at 0.086 US dollar.

As of writing, TRX prices are down 3.0 percent in the week. TRX was at Rp1,229, up 0.8 percent in the last hour as data from Coinecko reports. TRX minus 60.8 percent of its ATH.