Tron (TRX) is currently sold at $0.064 handle off the Asian low which is sold marginally at $0.5813. However, the coin is seen as one of the top ten cryptos in the world today, but it is down to about 21% from its original status that it attained on April 30. Indeed, purchasing it around $0.06 can be considered as a step forward.
Furthermore, even though the current situation of Tron (TRX) has improved marginally, TRX/USD needs an upsurge above the sloping trendline, which is at $0.0817, to repudiate the recent ‘positive’ momentum.
Tron’s MainNet launch into the market means that it will definitely experience a variable increase in price movements before and after the MainNet gets launched. Moreover, the price has shifted into a triangular form which implies that a breakthrough might occur in both directions in the future.
In the time of the TestNet launch, which was the last vital activity that was performed by Tron on March 31st 2018, there were sharp drops in price. On March 29th, Tron’s (TRX) was priced at $0.048, but by April, the coin was priced at $0.033 (which presented a significant price drop).
Furthermore, the decrease in the price of Tron (TRX) comes in a time when there were turbulences in the crypto-market, and during that period, the price of bitcoin was valued at $6,570 against its initial value at $8,000. The same inclination might occur with Tron’s (TRX) as its MainNet is about to be launched after 30 hours or so. Nevertheless, in the coming days, the digital currency has planned its activities to put TRX in an excellent state (well, at least, they are trying their best) in the crypto-market.
Firstly, the digital currency, Tron (TRX), has lined up strategies to migrate its token in June. Additionally, Tron (TRX) has also passed a TRX Airdrop to make its MainNet popular and help in the migration of its token. With these plans, Tron (TRX) is also set to launch the Genesis block on the 25th of June.
With all these events coming up in the next few days, we could safely say that Tron (TRX) is not ready to take any chances for a drop in its price that occurred a few months back immediately once MainNet is launched. This further implies that the token will continue to maintain its momentum and even increase its value in the coming days and years.
With the variable challenges facing big cryptos like Bitcoin (BTC), Etherium (ETH), Ripple (XRP), it is seen that these major ‘crypto-market players’ are in the red. It is for this reason that the U.S Department of Justice is aiming to manipulate Bitcoin (BTC).
So, it seems Tron has put together all the things ‘correctly’ to maintain its momentum strongly even after the Main Net launches. But, things could go the other side for Tron’s TRX too if the market keeps going down due to legal issues (the alleged US manipulations).
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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