TRON is a blockchain-based entertainment content sharing platform that was launched in the 2017 year and according to its official website, TRON will transform the global entertainment industry. TRON has own cryptocurrency known as Tronix (TRX) and lots of financial institutions and technical specialists are already supporting the TRON network. According to some estimates, TRON has a bright future because this network allows users to create content, websites and applications without having to rely on centralized services. The positive thing is that lots of partners are already supporting the TRON network, TRON partners include the likes of Gifto, Game.com, oBike, Peiwo among others (on the official website, you can find all TRON partners). There are also rumors that a partnership between Tron and Alibaba may be in the works because several developers from the Alibaba group joined Tron’s development team two years ago. In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. In the chart below (a period from February 2019), I have marked major resistance and support levels which can help us to understand where the price could move. The current resistance levels are $0.020, $0.025 and $0.030, $0.015 and $0.010 represent the current support levels.
As for the technical picture, TRX remains in the bearish phase but if the price advances above $0.020 next targets could be located around $0.025 and $0.030. If the TRX falls below $0.015 that will be a strong signal “SELL” signal and the next target could be around $0.010. This is a highly speculative cryptocurrency and still very risky but TRX has a very good risk/reward ratio in the market right now which means you stand to gain a lot more for taking a comparatively smaller risk. In the chart below we can see how did the price of TRX performs in the last 30 days. On this chart, I have marked a “trendline” and if the price drops below this trendline that will be a “SELL” signal.
Recommendation: The price of TRX has advanced from $0.013 above $0.018 in less than three weeks and the current price stands around $0.017. TRON is a blockchain-based operating system and according to some estimates, TRON will transform the global entertainment industry. TRON allows easy and cost-effective sharing of digital content by eliminating the middleman between content creators and content consumers. In my opinion, this is a highly speculative cryptocurrency and still very risky but lots of analysts agree that TRON (TRX) is currently at a point where it has the potential to make very big gains. Despite this, I would recommend to everybody to be careful and to invest a small sum of money in this cryptocurrency. If the price advances above $0.020 next targets could be located around $0.025 and $0.030. On the other side, if the price of TRX falls below $0.015 that will be a strong signal “SELL” signal and the next target could be around $0.010.