Tron (TRX) is always a hot topic in the cryptocurrency space, especially after the recent price volatility and the hype surrounding new developments. Today, many are wondering: what’s next for TRX? Will it go to zero? Or is there hope for a recovery? In this Tron price prediction article, we will take a deep dive into recent trends, factors that could affect the price of TRX, and what the future holds for this popular cryptocurrency.
How is the price of Tron (TRX) going in the near future?
TRON’s current price is $0.155078, with a 24-hour trading volume of $708.51 million and a market cap of $13.44 billion, accounting for 0.58% of the crypto market. Over the past day, TRX’s value has increased by 0.51%.
TRON is currently priced at $0.155078, with a 24-hour trading volume of $708.51 million and a market cap of $13.44 billion, accounting for 0.58% of the cryptocurrency market. TRX has gained 0.51% in value over the past day.
TRON reached its all-time high on January 5, 2018, at $0.302062, and its lowest point was on September 15, 2017, when it was worth $0.001091. Since the peak, TRX's lowest price has been $0.00735, and its highest rebound since the low of the cycle was $0.179725. Currently, the market sentiment around TRX is bullish, with the Fear and Greed Index showing 64 (Greed).
TRON’s total supply is 99.28 billion, with 86.65 billion TRX currently in circulation. The annual supply inflation rate is -6.17%, which means that 5.70 billion TRX were generated last year.
Tron Price Prediction: Why is TRX Price Stable?
TRX’s price stability can largely be attributed to a significant drop in transaction volume on the Tron blockchain. After a surge in mid-August, trading volumes fell sharply to a three-month low.
A reduction in large transactions generally means weaker trading activity, which in turn leads to lower volatility and ultimately stable prices. Without a significant increase in trading volume, the likelihood of price breakouts is reduced, keeping TRX's price within a stable range. In addition, broader market conditions have not provided any substantial catalysts to drive large price movements within the Tron ecosystem.
A surge in trading volume in mid-August was associated with the SunPump launchpad, which caused a temporary increase in trading volume. However, with the number of daily active addresses on the Tron network now near all-time lows, it’s clear that user engagement and transaction traffic are not enough to create significant price momentum.
Nevertheless, most TRX holders are still in profit as the average holding price is still below the current market value. This situation encourages holders to hold their positions and wait for potential future gains rather than sell, which further contributes to price stability.
Interestingly, the market sentiment is tilted towards the bullish side, as evidenced by the rising long-short ratio. The shift from 0.88 to above 1 suggests that short traders are closing their positions, while long traders are becoming more active.
This reflects the growing confidence of market participants in a possible upward trend in TRX's future. Although the current stability is the result of low trading volume and minimal catalysts, the increase in long positions indicates that the market is preparing for a potential positive change in TRX's price in the coming period.
Will the TRX price drop to zero? How high can the TRX price go?
Given its current market performance and key metrics, it is highly unlikely that TRX will fall to zero. Over the past year, TRX's price has increased by 76%, demonstrating its resilience and growth potential. This positive momentum, coupled with TRX outperforming more than half of the top 100 crypto assets (53%), indicates that its position in the market is solid.
Additionally, TRX is trading above its 200-day simple moving average, which is often considered a long-term bullish indicator, suggesting that its overall trend remains upward. Moreover, TRX has been performing positively, trending up 15 out of the past 30 days, showing market strength and demand.
High liquidity, backed by its large market cap, makes it harder for TRX to experience significant price drops, further reducing the likelihood of a crash. With an annual inflation rate of -6.17%, TRX also benefits from a deflationary structure, reducing the circulating supply and potentially supporting price appreciation over time.
As for how high TRX can go, recent data suggests that it has further potential to grow. Although not as good as Bitcoin, TRX has been performing positively compared to its token sale price and remains a relatively strong performer among crypto assets.
The aforementioned stability, coupled with reduced volatility and the liquidation of short positions, could set the stage for future price increases. If market sentiment remains bullish and activity within the Tron ecosystem picks up, TRX could see a significant surge.
Given its current position above the 200-day simple moving average and historical performance, a breakout above the prior cycle high of around $0.179725 would be a key milestone and could see TRX set new highs if the broader market supports.
However, the extent to which TRX’s price rises will depend on a variety of factors, such as a recovery in transaction volume on the Tron blockchain, increased user activity, and potential catalysts such as partnerships, developments, or a broader market rebound.
If these factors align, TRX could see a massive uptick that could take it close to its all-time high of $0.302062, or possibly even higher. Nonetheless, market conditions can change quickly, and despite bullish indicators, continuous analysis of market dynamics and ecosystem developments is crucial to accurately predict potential highs that TRX could reach.
The article is for reference only and does not constitute investment advice.
