{"id":1136,"date":"2021-07-22T03:40:44","date_gmt":"2021-07-22T07:40:44","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=1136"},"modified":"2023-01-28T22:44:33","modified_gmt":"2023-01-29T03:44:33","slug":"tron-price-prediction-tron-bulls-under-pressure-will-trx-hold","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/tron-price-prediction-tron-bulls-under-pressure-will-trx-hold","title":{"rendered":"Tron Price Prediction: Tron Bulls Under Pressure, Will TRX Hold Above $0.05USD?"},"content":{"rendered":"\n

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\"Tron
Tron Price Prediction July<\/figcaption><\/figure>\n\n\n\n

The crypto market has not been kind to HODLers, especially Tron.<\/p>\n\n\n\n

A glance at the market cap leaderboard indicates how TRX and Justin Sun’s project has been fading, gradually diminishing from the top-10, and now from the top 20.<\/p>\n\n\n\n

Indeed, value erosion is a concern for traders and project investors.<\/p>\n\n\n\n

Still, some positives can be picked from Tron and could be triggers for investment.<\/p>\n\n\n\n

Tron Market Overview<\/h2>\n\n\n\n

Technically, TRX has been relatively firm, soaking selling pressure, unlike most DeFi<\/a> projects that sellers obliterated in May and June 2021.<\/p>\n\n\n\n

TRX prices are still down over 70 percent from the H1 2021 peaks at the time of writing.<\/p>\n\n\n\n

The major takeaway, despite lower lows, is the absorption of the selling deluge and the resilience of bulls of June 22 and 23.<\/p>\n\n\n\n

Looking at candlestick arrangements in the daily chart, the TRX bull bar of June 23 is yet to be confirmed, even after a follow-through at the tail-end of June.<\/p>\n\n\n\n

Therefore, the retracement from $0.07 to spot levels could, therefore, especially if $0.05 holds, be the catapult for a possible breakout above $0.07 towards $0.17 in the upcoming sessions.<\/p>\n\n\n\n

A bullish bar printing from spot rates effectively marks May and June lows as bottoms and possibly a signal for a buy trend continuation.<\/p>\n\n\n\n

Tron Market Movers<\/h2>\n\n\n\n

Several fundamental reasons support this view.<\/p>\n\n\n\n

For one, despite sliding valuation, Tron is one of the earliest smart contracting platforms.<\/p>\n\n\n\n

The platform is compatible with Ethereum and is popular with gaming and gambling dApps. Adopting providers are attracted by Tron’s scalability, low transaction fees, vibrant ecosystem, and support from the Tron Foundation.<\/p>\n\n\n\n

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#TRON<\/a> is one of the world\u2019s largest and most widely used blockchain-based ecosystems. \ud83d\udcaa pic.twitter.com\/yB9UhM8s5W<\/a><\/p>— TRON Community (@TronixTrx) July 16, 2021<\/a><\/blockquote>