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Tron (TRX) Price Prediction 2022 — Network Upgrades, Short and Long Term Price Analysis

· in Analysis
Eric runs a private crypto investing community focused on high-value altcoins. Learn more here: https://bit.ly/2P1w5qt
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(Updated  January 29, 2022) Ever since the launch of the mainnet and acquisition of BitTorrent, last year, positive developments keep coming Tron’s way that promise to have a positive influence over the price of TRX over the next few months.

So far, three big items have been moving the price of TRX and will continue to influence it in the near future. They include: the imminent hard fork of the Tron Network, integration with Coinpayments, and the countdown to its Virtual Machine (TVM) launch.

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As it stands, TRX sits at #15 in total market cap with a coin price near $.015.

What Experts Think 

Lately, Tron has been on the up since managing to transition from the Ethereum Blockchain. The platform has got into some notable collaborations not forgetting the purchase of BitTorrent. The platform has also experienced a massive upgrade in privacy and security.

Experts call Tron the future of entertainment and they advise that this is the right time to invest in the project as the market continues to show signs of upward movement. Recently, Justin Sun labelled the platform as the “Ethereum killer” as TRON Dapps continue to dominate the cryptocurrency marketplace.

CoinSwitch expects Tron to reach $0.4 in 2020. But, the price is expected to fluctuate more compared to previous years. Therefore, the platform expects TRX to reach peak price in July, after which it will go down to the $0.3 level and eventually decline even more to the $0.24 level by the end of the year.

Udi Wertheimer, a Bitcoin developer, believes that TRX has the potential to beat ETH in 2020. Based on that assumption, then the price of TRX should increase considerably.

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Other factors that have been driving the price of Tron include;

Tron Network Upgrade

The price of Tron (TRX) is expected to rise with an imminent network upgrade around the corner. TRX is set hard fork on February 28, and according to Justin Sun, the platform’s founder, the fork will feature four main upgrades.

In a tweet made on Feb. 24, the new features will include; multi-sig and account management that is institution ready, the dynamic energy adjustment to real-time performance, better virtual machine safety and events server for dApps and 50 percent performance upgrade from the current levels.

The multi-signature and account management upgrade will provide more security for transactions on the blockchain. In another tweet, Justin Sun notes that the update is what is needed for institutional investors to get involved and Tron’s recent partnership with BitGO will make the platform institution ready.

The dynamic energy management system upgrade will improve the blockchain efficiency and streamline the networks performance and energy management.

The third upgrade would focus on performance even though there are no specifics on how 50 percent improvement will be achieved.

However, Tron has so far managed to outperform Ethereum when it comes to transaction speeds.

The fourth upgrade will see some security enhancements and improvements on the Tron Virtual Machine that caters for dApp developers. There will also be the launch of an event server.

These upgrades are expected to positively influence the price of Tron over the next few months, and this should be exciting for all crypto investors. Indeed, some rumours of a new partnership between Baidu and Tron allowed the virtual currency to move higher.

CoinPayments Adds Tron, Opening It Up To 2 Million Stores

Next, Tron has been added to the CoinPayments platform; enabling TRX holders to use the currency with over 2 million merchants internationally. CoinPayments was a first-of-its-kind payment processor that allowed altcoin holders to use their holdings commercially, and the addition of TRX is a boost to that coin as well as the CoinPayments platform. A full list of CoinPayments merchants can be found on its website, as well as the other coins it supports.

This is just another step toward usability for the TRX token; the more of which creates higher demand for investors, shoppers, and internet users to hold it. In May, though it was a different crypto market at that time, Verge saw a serious boost for its Coinpayments listing, an effect that may come later for Tron.

If Tron can keep earning partnerships like this—ones focused on TRX’s adoption in the real world—it starts to earn more of an edge over competing top-20 coins. This positions it to be a prime candidate for new fiat exchange gateways, a benefit discussed later in this article.

The Launch Of The Tron Virtual Machine 

Lastly, Tron holders are looking ahead with glee as we’re just a week out from the launch of Tron’s Virtual Machine (TVM)—the real starting place of the Tron ecosystem. With this, builders will be able to make applications in TVM, run ETH-based apps, and the Tron foundation will work to expand its transactions per second (TPS) to show off Tron’s speed against competitors. There will be a live stream and celebration for the launch of TVM, a landmark day for the coin.

TVM is the bread and butter of Tron. It’s the engine on which Tron will run and in which TRX will be used. Think of it as the App Store or Google Play store equivalent for Tron (other articles have called it the “McGyver” of crypto). It is where creators can use this technology to create the future. Eyes will be on this launch and what pours into the TVM in the first few weeks. A successful launch is vital; and will play into investors looking at TRX.

Long term, if Tron can use its TVM to prove that its technological enablement is on par with Ethereum, it will show investors that the value of the two coins deserves to be closer together (Ethereum will feature smart contracts, of course, but Tron can host those through TVM). Ethereum, by market cap, is 20x more valuable than Tron, a distance that could be equalized with positive projects positioned in the Virtual Machine.

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Long-Term TRX Price Factors To Consider

The long-term analysis looks at a few different factors. Let’s start with price movement. TRX ICO’d at about $0.0019, a long way down from where it stands today, though a much longer way down from the coin’s all-time high of nearly 30 cents.

Tron had one of the more mega-ICOs; bringing in $70 million USD. As of May, there were still over a million wallet addresses holding TRX, proof that many have held on from the beginning and new holders have joined.

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The next place to look is volume. TRX volume is strong and steady. It sees volume of about $200 million each day, give or take, and it’s spread across the two major trading channels: USDT trading and BTC trading. Mixed in there is ETH trading, but the highest of that (on this particular day) is only $5 million of the $200 million (2.5%) and fiat trading, the highest of which is paired with KRW (no surprise, Koreans are usually the highest fiat-traders). But even this is only $6.5 million. A very small portion.

So, fiat trading is still extremely unrepresented here. That means that TRX has an enormous opportunity to crack into more fiat selling; whether it be more KRW or TKY, or, more importantly, fiat transactions from China, the U.S., and Europe. Once this happens (be it Coinbase perhaps for USD trading), we should see a spike in volume (not all buying of course) that will likely lift TRX price.

China’s Deep Pockets and Tron

China is a great unlock with Tron. Simply put, they aren’t in the game right now (Chinese Yuan is estimated to be at 1% of total BTC trading). We aren’t seeing CNY pairing with TRON, or other coins, and we aren’t seeing Chinese firms truly started to get invested into the coin.

Tron is part of the big Chinese three to look at; along with NEO and VET. If and when (and it should be ‘when’) China does start to warm up to crypto, it will look to boost its national projects before international ones. You can see this with VET’s announcement of working with the Chinese government. Tron could see the same benefits.

China’s venture capital scene has exploded like never before. You can see charts and a write-up here, but the short is that VC firms and large-cap Chinese tech companies are pumping money into startups. Turning on the China switch could change Tron overnight. Even a hint that China is going to allow money—personal investors and institutional—back into crypt could double Tron price overnight.

Tron Price in 2020 and 2021

Tron (TRX) is another virtual currency that has been out of the radar in recent years. It is worth taking into consideration that the virtual currency faced tough competition in recent years with the expansion of Polkadot (DOT), Cardano (ADA), Solana (SOL), Terra (LUNA), Polygon (MATIC), and many others. 

Despite that, it was able to find very good ground in 2021 that pushed its price higher compared to previous years. Indeed, after the crisis with the Coronavirus in 2020, the coin fell to the lowest price that it registered since it was released to the market. This was very negative to this virtual currency and it took an entire year for this coin to recover. During the 2020’s crash, TRX was traded close to $0.01. 

Thins got better in 2021 when cryptocurrencies started to move higher. This is something that we see not only in Tron but also in other cryptocurrencies in the market. Despite the fact that Tron was not able to hit another all-time high, we see that the price has been for a long period of time above $0.05 and close to $0.10. This is very positive for TRX holders that have been accumulating TRX since 2018. 

Indeed, those investors that would like to sell their coins would be able to do so if they bought at any moment between 2018 and 2021 and they would still make a profit (if they did a dollar-cost average purchase between 2019 and early 2021. 

When it comes to fundamentals, it would be very important for Tron to offer better services than other recently released blockchain networks. This is going to make it better for Tron to continue with its bull market and attract new projects and users from all over the world.

TRON (TRX) Price Prediction TradingView Analysis Updated January 29, 2021



Trading Signal For TRXUSDT Tron by pullbacksignal on TradingView.com

This TRX/USDT analyst shows that Tron is currently being traded in a stable range in which the coin fluctuates between 0.054 USDT and 0.058 USDT per coin. Now, the expert considers that the coin could be facing some resistance at 0.058 USDT per coin and that this could make it difficult for TRX continue moving higher. He considers that the coin should eventually break through 0.058 USDT and move towards 0.0619 USDT and 0.07140 USDT. 

However, there is a small chance for TRX to start falling and hit 0.052 USDT. This would be a position to have a stop loss ready in case the market could continue moving lower in the coming weeks. It would be very important to follow Bitcoin and see how this virtual currency moves as it would influence the whole market in the future.


LONG TRXUSDT | Risk / Reward: 3 by chuplein on TradingView.com

This TRX/USDT analyst considers that there seems to be an M pattern being drawn in the charts. This pattern is currently spreading as time passes. As the expert explains, it might be possible to take a long position from the current levels. Additionally, the RSI is pretty low and this could be another long trade signal. 

However, the coin has recently broken a symmetrical triangle in which the coin has been throughout most of 2021. Due to the recent market slowdown, we see TRX that it has tested a very important support level at 0.06 per coin. This support level is very important as it has allowed the virtual currency to bounce back and it could get ready to test the 0.07 USDT resistance level. Nonetheless, this would be highly dependent on Bitcoin and the move of the whole crypto market.


BULLISH by AMITANSAL369369 on TradingView.com

This TRX/USDT analyst has made a clear analysis of this trading pair for the coming months. He shares that TRX was recently in a strong support region where it bounced and it started a move higher. However, there are some things that we should take into consideration for this virtual currency. 

The first thing that we should pay attention to is the resistance level that is above TRX’s current price. We see that it might need to break through a strong resistance level at $0.86 per coin before continuing its move higher towards $0.10 per coin. 

This price movement could take some months before it becomes reality. We have also seen decreasing volumes over teh last few weeks. Hence, we should wait for a strong volume inflow in order to break these resistance levels and move higher during the first months of 2022.


TRON IS CLOSE TO BREAK NEAREST SUPPORT (0.08700) by AtlasTrades on TradingView.com

This TRX analyst considers that Tron could start moving downwards in the coming days. This comes after a few days in which themarket tanked and recovered for some days. There are three main important support levels. These levels include 0.087 USDT, 0.08 USDT and 0.073 USDT per coin. 

As the analyst says, if the price falls these key support levels, we might see it moving lower. This would highly depend on the general trend of the crypto market. We have seen Bitcoin moving lower every single week and it is now close to $46,500 after hitting an all-time high of $69,000 a few months ago. The question is whether TRX would be able to sustain its price at these support levels or continuing its trend lower in the next few weeks.


TRXUSDT Analysis by trytofeelpositive on TradingView.com

This cryptocurrency analyst has properly spotted the support level for TRX. He showed that TRX could eventually fall to 0.079 USDT per coin, and this is what in the end happened. This was a very important support level for the virtual currency and it worked as expected. 

This massive price drop comes after Bitcoin’s price decrease in recent hours. It is worth mentioning that cryptocurrencies are now closely related to traditional financial markets. This analyst said that future targets for TRX could be 0.125 USDT, 0.14 USDT and 0.165 USDT, however, these targets were created before the recent price action. Now Tron should focus on recovering the 0.09258 price region.

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Conclusion

The positive developments that have been taking place around Tron over the past year all and the bullish charts above all point to a positive future for the price of TRX. It would be wise for all investors to add some TRX on their crypto portfolio as the market prepares to rally towards the end of the year.

If interested, you can follow the link below to learn how to buy TRX on Binance.

[Follow this link to learn how to buy TRON TRX on Binance]

Want to learn more about TRON? Read about how Tron’s transactions have passed other major coins in our in-depth article. You can also read about how Tron’s price was boosted earlier this year with the rumor of a big partnership.

The best place to buy or trade for TRX is on Binance. After, you can utilize the great features of TronWallet to hold your TRX. At the same time, Exodus has extended support for Tron, meaning users can now hold their TRX securely and without major issues.