TRON is having one of the best uptrends in the cryptocurrency market. Not only did prices double in the past month, but its price-action looks very stable. Usually, when a certain cryptocurrency skyrockets within a short period, a harsh correction happens soon after. For Tron, that's not the case, as its prices increased slightly but surely over the course of around 40 days. Currently, TRX broke the 10 cents resistance and it looks like it's heading towards even higher levels. Can you still buy TRX?

Tron is a blockchain that aims to reduce the processing time of transactions. While Bitcoin and Ethereum are able to handle 6 and 25 transactions per second, Tron claims to be able to handle 2,000 transactions per second (TPS). It is a decentralized platform that hosts content sharing and entertainment. Back in 2018, Tron acquired the famous BitTorrent, a well-known website for file sharing.

In their list of goals, Tron is looking to build an all-in-one platform for file sharing through financial rewards, and allowing content creators (especially in the gaming industry) to monetize their work. They also are among the most popular blockchains to host decentralized apps (DApps).

Contrary to Bitcoin and other cryptos, TRON (TRX) did not boost prices suddenly, nor witnessed a sudden crash. Its price-action rather was mature and had steady growth. The crypto market did in fact also grow within that very same timeframe, but also did adjust heavily. For TRX, the harshest adjustment was a mere 15%, whereas the upside was more than 100%.

We did also warn previously about the importance of buying TRON previously. We at CryptoTicker like the project and see the big potential of this project.

After looking at how XRP and ADA managed to reach a 1$ valuation per coin, many people are expecting the same for TRON. In fact, TRX has around 71.6 Billion tokens in circulation, while XRP and ADA have 46.5B and 32B respectively. That's almost double the supply. For that, we can expect a long-term price of maybe half of ADA, or the same as XRP. With this analysis, TRX can easily reach 1$.

On the other hand, TRX prices breached the $10 cents price mark, and us currently eyeing $15 cents. This represents another 50% price increase if you buy at current prices. But smart traders always account for the worst when investing, hence they place sensible stop-losses. For TRX, that level would be around the $9 cents mark, which marks a strong support.

There are many laggers in the cryptocurrency market. Those coins usually take time to follow the overall market trend. Tron (TRX) is one of those altcoins that saw a massive boom of close to 25% in the past 7 days. Other than its interesting project and mission, TRX's technical formation perfectly followed the rules of setting up a buy trade. After reaching its strong support area, TRX shot high and reached an important area. Should you Buy Tron now and still make a profit? Or will prices adjust heavily after such a rise in prices? In this article, we're going to talk a bit about what is Tron, if it's a good investment, and analyze its prices.

Tron is a blockchain that aims to reduce the processing time of transactions. While Bitcoin and Ethereum are able to handle 6 and 25 transactions per second, Tron claims to be able to handle 2,000 transactions per second (TPS). It is a decentralized platform that hosts content sharing and entertainment. Back in 2018, Tron acquired the famous BitTorrent, a well-known website for file sharing.

In their list of goals, Tron is looking to build an all-in-one platform for file sharing through financial rewards, and allowing content creators (especially in the gaming industry) to monetize their work. They also are among the most popular blockchains to host decentralized apps (DApps).

When approaching any asset to invest in, one must always look at the underlying technology and the problem that the project solves. For Tron, it is obvious that they are trying to create a nice decentralized community that helps content creators while building for efficiency and speed. Many projects are attempting to do that, but Tron tapped into a big industry first (entertainment) and will definitely expand from there.

Disregarding the breakouts from the average uptrend, we can clearly see in figure 1 how the price of TRX is increasing with time. Investing in such a project at the beginning of 2021 would have yielded big time.

In the past 26 days, Tron (TRX) managed to rise by more than 80% (figure 2). The TRX token increased from a price of $0.05 to reach a current price of $0.09 with relatively no proper adjustments. We might expect lower prices in the coming few days before prices continue on their uptrend. Plotting the Fibonacci retracement shows an adjusting area of $0.07 as a first step. This scenario might happen in case the entire cryptocurrency market is also adjusting lower. That's why it is advisable to wait for further adjustments in prices to catch TRX at better prices.

On the other hand, prices can continue higher, and TRX is eyeing currently its psychological price of $0.1.

Today, there are many exchanges that offer TRX in their crypto listings. Here’s a list of the solid exchanges we recommend here at CryptoTicker:

• Binance
• Gate.io
• KuCoin
• Kraken

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