TRON (TRX) Price Prediction 2024-2030: Will TRX Price Hit $0.5 Soon?

• The bullish TRX price prediction ranges from $0.1296 to $0.1321.
• TRX price might also reach $0.1531 in 2024.
• TRX’s bearish market price prediction for 2024 is $0.0718.

TRON is a blockchain project that was launched in 2017 on the Ethereum network. Its native token, TRX, was initially launched as an ERC-20 token before it migrated to the TRON blockchain. Ever since its launch, it has developed over the years, garnering the attention of developers and investors alike. With over 184 million accounts and 6.4 billion transactions, TRON boasts itself as the world’s fastest growing public chain.

If you are interested in the future of TRON (TRX) and would like to know the price analysis and price prediction of TRX for 2024, 2025, 2026, 2027, and 2028 up to 2030, keep reading this Coin Edition article.

TRON (TRX) Market Overview

What is TRON (TRX)?

As described in the document, TRON is an open-source public blockchain platform that focuses on supporting. When TRON migrated to its mainnet in 2018, it also enabled smart contracts on Ethereum to easily migrate to TRON directly or with minor modifications. Continuing to stand out in the blockchain industry, TRON also has its very own unique consensus mechanism to ensure high TPS for the TRON network. 

The consensus mechanism implemented by TRON is DPoS. Similar to finding witnesses for a network, the DPoS also selects some nodes as witnesses in the blockchain system based on the number of votes they receive. As the first step, when a certain number of tokens are issued, they will be given to the nodes in the blockchain system. The next step would require nodes to apply as “witness candidates” in the blockchain with some portions of the token. 

Since TRON focuses on offering compatibility and a seamless development experience, TRON’s smart contract development is based on Solidity, making it easier for developers who have Ethereum development experience. To ensure a seamless development process, TRON has also developed tools that are similar to Ethereum. Some of the tools provided by TRON for developing and deploying smart contracts are TronBox, Tron-IDE, and Tron Web. 

TronBox, a CLI tool used to compile and deploy smart contracts, is similar to Etheruem’s Truffle. Meanwhile, Tron-IDE is a GUI tool used to compile and deploy smart contracts, similar to Ethereum’s Remix. Finally, a similar tool to Ethereum Web3.js, TronWeb, is a Javascript SDK supporting TRON.

Playing an important role on the TRON network, TRX, one of the crucial cryptocurrencies for the blockchain platform, has a wide range of applications within the network. For instance, the rewards of the TRON network are issued in the form of TRX. At the same time, the TRX can be used to obtain resources and voting rights in the network after it is staked. In the DeFi lending market, TRX can also be used to act as collateral. Additionally, it can be used to make payments on different types of marketplaces. 

Another feature of the TRON network is that it also allows developers to create decentralized applications, also called Dapps. These Dapps utilize the limited resources of TRON’s network. To ensure that the network is normal, the team has promised that if a malicious Dapp is submitted in an infinite loop, the transaction will eventually run out of TRX and terminate, allowing the network to return to normal. 

TRON (TRX) Current Market Status

The total supply of TRON (TRX) is 88,133,509,945 TRX, while its circulating supply is 88,133,487,749 TRX, according to CoinMarketCap. At the time of writing, TRX is trading at $0.1128, which represents a 24-hour fall of 0.14%. The trading volume of TRON in the past 24 hours is $316,968,845, which records a 41.41% increase.

Despite recording a red mark on the daily chart, TRX is still able to maintain a 1.90% surge in the seven day period. The altcoin was able to maintain a distance from its starting price of $0.1109. Some top cryptocurrency exchanges for trading TRON (TRX) are Binance, HTX, Kucoin, OKX, Gate.io, Kraken, and others.

Now that you know what TRX is and its current market status, we shall discuss the price analysis of TRON (TRX) for 2024.

TRON (TRX) Price Analysis 2024

After developments within the network, TRX is ranked in the 11th position based on CoinMarketCap’s market cap ranking list. As the crypto industry and overall economic environment continue to change, investors and crypto enthusiasts will be eagerly questioning whether developments and upgrades within the network could increase the price of TRX.

TRON (TRX) Price Analysis – Bollinger Bands 

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

Even before 2023, it seems that TRX’s market was somewhat stable as the Bollinger Bands were positioned horizontally, a signal indicating that price action would be stagnant. Finally, the bullish sentiment in the market may have caused the prices to surge and expand the bands, thus creating a disturbance in the market condition. 

In the past year, TRX was able to form a candlestick that broke above the upper band of the Bollinger band, recording a higher value compared to its initial starting point. This particular price action was able to continue in all four quarters of the previous years. It seems the expansion of the bands also caused a deep fall for the asset; however, it was able to recover once again. 

So far, in 2024, the candlesticks have been testing the upper band for a long time. Although it broke above the upper band, the retracement was able to hold on to the lower band’s support. Currently, the candlestick broke above the upper band and is now going through a retracement process. 

Although the 1-day chart shows TRX is in a volatile market, the 4-hour TRX/USD chart shows that prices may move into a stagnant position as the bands continue to narrow. The BBWP also highlights that the band area could reduce as the indicator is currently about to touch the 0% section of the chart.

The stable market condition will last for a short period if buyers rally, creating a tremor in the price action. Additionally, if the bands in the 1-day chart reduce in distance, there is a high chance that the stable market condition could extend to days. The market condition could also change, as seen earlier in the chart. 

TRON (TRX) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

The RSI has already crossed the overbought region several times, indicating high buying activity. It seems that investors would take advantage of the overbuying surge, as TRX would fall immediately after crossing the overbought region. In the past year, TRX has already touched the overbought region almost nine times, indicating that even in the bear market, traders are interested in the altcoin. Additionally, the development in TRON’s ecosystem could be one of the reasons behind TRX’s potential surge and crypto enthusiast’s rising interests. 

Similar to what Bollinger Band stated, RSI also highlights that candlesticks could sway sideways for some time in short-term 4-hour charts. The sideways momentum happened after the candlesticks hit the upper RSI band and made a retraction. The RSI’s momentum is similar to altcoin’s price movement. As such, the 4-hour chart would serve as a crucial early signal for traders looking to decide the trend of the market.  

TRON (TRX) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator helps the trader easily identify the trend of an asset and its current sentiment. Basically, MACD shows the difference between two Exponential Moving Averages (EMA) and helps traders see the crossover between them. By default, MACD has a set value of 12-day EMA, 26-EMA, and 9-day EMA. The MACD allows users to easily see the price trend through its line and histogram visualizations.

 One of the strangest phenomena is that the candlesticks would show a slight change even though MACD signaled a bullish and bearish trend. However, the trend’s strength would increase when the height of the indicator also grew. Even though it is a lagging indicator, MACD was able to pinpoint the slight trend changes in the short term period, as seen in the chart above. 

Currently, the MACD indicator is forming green bars on the histogram chart, a sign of a bullish trend. Meanwhile, the MACD line is continuing to grow, further confirming that the trend is bullish. Looking at the histogram closely, two additional green bars are growing, which is often considered a sign that the trend could continue. If the trend continues, there is a high chance that the candlesticks could cross through several resistance levels. At the same time, traders are suggested to look at a trend reversal, which can happen anytime.  

TRON (TRX) Price Prediction 2024-2030 Overview

TRON (TRX) Price Prediction 2024

retracement after recording a surge in its performance. In fact, the TRX would reach its highest peak within a particular time period, crossing several resistance levels, and after some time, it would face a pullback to the 0.382 and 0.612 Fib levels. Despite making subsequent falls during the retracement process, the candlesticks were able to maintain a higher position compared to their initial starting point.

During the August 2023 rally, the candlesticks did not fall below the 0.612 Fib level. This could be attributed to investors and holders’ confidence in TRX. Finally, during the fourth quarter, the candlesticks began to consolidate, swaying sideways for a while. The candlesticks were then able to climb aboard the bullish trend, forming positive candlesticks in the chart.

Once again, the altcoin faced the retracement procedure. Currently, the altcoin has started to move into a consolidation phase and test the 0.1134 resistance level. Although TRX has the potential to touch the $0.1296 target in the long term, traders should also expect a subsequent fall as part of the price correction. On the other hand, the bullish price prediction shows that the area between $0.1200 and $0.1166 could be the area where candlesticks could show positive performance. 

The bullish price prediction could become possible with only the support of the buyers. The buyer’s activity could create a positive sentiment in the TRX’s market as well as the overall crypto market. On the other hand, if the bears come into play, TRX could fall to the 0.382 and 0.612 Fib levels. And if it fails to hold on to those supports, TRX could even fall to the trend, which is the crucial support line for the altcoin. Finally, if the trend line fails to provide support, TRX could witness a bearish trend for some time. 

TRON (TRX) Price Prediction – Resistance and Support Levels

Looking at the chart above, the candlestick experienced a similar surge in the past when anticipating a bull run during the previous BTC-halving. Although TRX experienced a massive spike in the past during the well-known 2021 bullish period, it quickly observed a downtrend. If the altcoin follows a similar trend, it has the potential to hit the same peaks as before. 

However, it should be noted that the extreme bullish price action can only be achieved once again if the buyers rally to the altcoins’ side. However, if investors take advantage of any short-term surge due to a lack of patience, then TRX would never be able to hit $0.1513.

TRON (TRX) Price Prediction 2025

TRX could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, TRX will continue to rise in 2025, forming new resistance levels. It is expected that TRX will trade beyond the $0.414 level.

TRON (TRX) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, TRX could tumble into its support region of $0.402. Moreover, when TRX remains in the oversold region, there could be a price correction soon. TRX, by the end of 2026, could be trading beyond the $0.512 resistance level after experiencing the price correction.

TRON (TRX) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears. TRX is expected to rise after its slumber in the bear season. Moreover, TRX could even break more resistance levels as it continues to recover from the bearish run. Therefore, TRX is expected to trade at $0.672 by the end of 2027.

TRON (TRX) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, TRX will continue to form new higher highs and is expected to move on an upward trajectory. Hence, TRX would be trading at $0.883 after experiencing a massive surge by the end of 2028.

TRON (TRX) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, TRX could be trading at $0.952 by the end of 2029.

TRON (TRX) Price Prediction 2030

After witnessing a bullish run in the market, TRX and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, TRX could be trading at $0.982

TRON (TRX) Price Prediction 2040

The long-term forecast for TRX indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, TRX may face a slight fall before starting its upward journey once again. It is expected that the price of TRX could reach $6 by 2040.

TRON (TRX) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, TRX could surpass the resistance level of $17.92.

Conclusion

TRX has been on the watch-out list of many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in TRX and add these tokens to their portfolio, then it could continue to rise. TRX’s bullish price prediction shows that it could pass beyond the $0.1296 level in 2024. Moreover, TRX could surpass the $17.92 level by the end of 2050.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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