Although 2018 was predicted to be THE year for the blockchain space, while blockchain-based projects and ICOs bloomed in the terms of technological achievements, the market trends were not as benevolent to digital assets for the past couple of months.
TRON TRX successfully went through with some of the most important milestones in the roadmap of TRX, also having the CEO of TRON, Justin Sun, purchasing the biggest data sharing platform, BitTorrent, for the purpose of creating decentralized web, or otherwise known as Web 3.0.
Despite the fact that TRON launched their mainnet also declaring the Independence Day for Tronic back in June 25th, alongside with coming up with a way to incentivize content creators on Twitter in form of TRX, TRON is seen dropping against the fiat, dealing at the price more than 10 times lower than its all-time high.
Is TRX able to reach back to its record price by the end of the year and what are the odds of doing so in the next following months?
Can TRON Make it Back to Its Record Price by the End of 2018?
The current year of 2018 was said to be THE year for cryptocurrencies especially with the fact that at the beginning of January, more than 90% of the cryptocurrency market went up bouncing off while scoring record prices. While Bitcoin hit the roof with 20,000$ per one unit back at the time, other cryptos were heading towards their top prices by far.
TRON made it with 0.25$ per one unit, while it lost -91% since reaching its all-time high back in January. Moreover, during the last couple of weeks, TRX has had some great chances for rebounding, rising from 0.018$ in mid-August to 0.026$ at the beginning of September.
However, TRX fell to 0.017$ only a week later, once again rising back up driven by the sluggish and already predictable, stubborn negative trends in the market.
Despite the launching of the mainnet in June, TRON kept on dropping against the fiat, confirming the already obvious situation where negative market trends are in charge by a common case in the past several months, so TRX is not an alone in this situation.
While it is expected to see additional declining in prices during the last week of September, the beginning of October can be a bit more benevolent to the cryptos as per the previous market trend records.
During the previous week, TRX showed a clean tendency towards adopting bullish trends, so we can see it rising on the weekly chart by 7%, also showing a positive return of 12% in the period of the last two weeks, clearly showing that TRX is following up with active market trends, positive or negative.
Still, TRX has a good chance to acquire a smooth rebound by the end of the last quarter of 2018 that way getting back to its all-time high of 0.25$. TRON already has several “aces” up its sleeve, with new projects upcoming alongside with the announced Project Atlas, which is directly related to putting BitTorrent to use in favor of TRON foundation.
At the current price of 0.020$, traders have a solid chance of turning the bearish market in their favor if they break through the resistance of the current value. However, if bear trends continue during the week as expected, TRX might get back to 0.018$ once again before it is able to make another rebound.
TRX Needs a Boost in the Market Prior to Acquiring a Smooth Rebound
The market is definitely acting bearish on cryptos once again in what has become a continuous set of frequent cuts whenever there is a rebound previously taking place in the market.
That is why in order to acquire a smooth rebound TRX would need some kind of a boost against the fiat.
As far as the policy of achievements and developments concerned, TRON seem to be thriving with new listings and getting new trading pairs, including the most recent addition of Binance Coin (BNB) and TRON (TRX) trading pair on Binance, however, that doesn’t seem to be enough to send TRX to the moon due to the constraining negative market trends.
Regardless, TRON makes up for one of the most active and most prominent digital assets available in the market, currently hovering around the top ten list and taking the spot of the 13th-largest digital asset at this moment.
If we are to look upon the last year’s trend in the market during Q4, TRON should surprise Tronics with a sudden boost already in December, and familiarizing with the promotional strategy of Justin Sun, the CEO of TRON foundation is most certainly preparing something interesting for this year’s “finale.”