Since its launch, TRON has raised high expectations about the performance of its digital content network. In addition, its technical team is one of the most complete in the crypto sphere and is led by Justin Sun, a young entrepreneur who is very media-friendly in the industry. With a severe downward correction in 2018 and a consolidation in 2019, this new year is filled with different opinions and analysis about the future of TRON. Making predictions for TRX for 2020 is an arduous task, and in this article, we address the issue through several fundamental, technical analyses and expert projections.
The Future of TRON in 2020: Recovering Lost Spaces
The TRON project and its TRX token constitute one of the most innovative ideas in the entire crypto sphere. This project differs from the competition by offering a unique approach, based on the democratization of the digital content we see every day on the Internet. However, the digital currency market is a complex and highly volatile environment. This is demonstrated by the balance sheets of previous years. The price of TRX shows instability, moving in the upward direction during the first half of 2019, but falling back into pessimistic territory towards the second half of the same year.
And so, at the opening of 2020, TRON has hit its lowest level since 2018. A situation that could represent a good entry point for bullish players. However, on a technical level the chart has left a twisted scenario, meaning bulls will have to overcome a series of successive resistances before there is a more forceful change in trend. In terms of development and marketing of its solutions, one of the most important edges in the commercial structure of TRON has been the launch of the BitTorrent token into its ecosystem, called BTT. The foundation’s workplan suggests several important events for the future of TRON in 2020. We list some of them below.
TRON 2020 Forecasts: Major Events, Updates and Key Facts
Here are some of the reasons why the option to buy Tron might be a good decision in the near future:
- The team behind this project is made up of various Chinese entrepreneurs and developers with extensive experience. The project is focused on the world of digital entertainment and is led by one of the most prominent figures in the industry, Justin Sun.
- It has been more than a year since Tron launched its own official blockchain, disassociating itself from Ethereum. As a result, its network is beginning to gain in value and awaiting wider adoption. Overall, it is more scalable than others in the competition.
- The niTRON conference in 2020 will take place in Seoul, South Korea. This is one of the most important technology capitals in the world.
- Its development environment is quite friendly and convenient for new users. TRON’s roadmap estimates the launch of the third phase of this project in mid-2020. It will focus on the capabilities of the network to facilitate ICO offerings and has become known as “The Great Voyage”.
- Although the TRON Foundation estimates that 2020 will be “the year of value” for the project, there are also several hurdles to overcome. The controversies surrounding leader Justin Sun have affected the project. One of the most recent was his cancellation of a strategy meeting with billionaire Warren Buffett, prompting TRX’s exit from the CoinMarketCap Top 10. On the other hand, this may prompt the bullish side to act, and so improve Tron’s situation.
Technical Analysis of TRON and Possible Scenarios (January 2020)
We present the following technical analyses to evaluate some of the possible scenarios for TRX in 2020. Although there is no certainty of what will happen, studying the historical graph of this cryptocurrency can help determine relevant levels, breakpoints and trends. As there are two pairs with very divergent behaviour, we have decided to analyse the price of TRON against the dollar, and also against the Bitcoin (TRX/USD and TRX/BTC). While attempting to accurately speculate on the future of Tronix (which is the actual name of the crypto coin), we feel that valuable data can be gleaned from both analyses.
TRX/USD: Important Observations and Areas of Interest
The graph shows several interesting elements that should be followed carefully:
- It ought to be taken as a premise that the analysis is done with daily candles (1 day) to study medium term scenarios.
- By the date of the analysis, 2 months have passed without TRON being able to overcome a key structural level. We have demarcated it in other previous analyses, and it is between $0.0157-$0.0171. If you look closely at the candlestick shadows, the closure tries to escape this yellow range. Its breakout will be key to further upward potential.
- In terms of support, the chart respects the almost lateral guideline that has reigned for more than 1 year. In case it is lost, the TRX could fall in high volatility rates and return to test lows since 2017.
- On the upside, the MA50, MA100, MA200 moving averages can serve as reference resistances. However, the S/R level is, for now, the most relevant level on the chart at around $0.0209. A breakout followed by a support confirmation could give us a better outlook for TRON in 2020.
- What the TRX did manage to do while I was writing these lines, was to break the 100-day moving average level.
- Oxygen is available for both buying and selling, with an RSI in the neutral zone.
TRX/BTC: Important Observations and Areas of Interest
TRON vs. Bitcoin (TRX/BTC) technical analysis for January 10, 2020. Binance data analysed with the TradingView tool.
Volatility characterizes the TRX/BTC pair, as well as a markedly bearish season that is not deterred by overselling. To trade this pair, we suggest very careful risk management.
- These intervals are also 1 day. As we have already revealed, the RSI is in the neutral zone and the oversold conditions were briefly touched in September 2019.
- On the medium-term downward path, we can only consider the lows of this cryptocurrency in the last year, where it bottomed at 135 SATS (0.00000135 BTC). If this support is not strong, the situation could become chaotic and the TRX would be tempted to test a weak support around 100 SATS before falling to a stronger one around 700 – 810 SATS.
- Fibonacci retracements leave several levels of attention on the upside. The first of these, and one of the most important, is near 0.00000305 BTC. Before reaching this level, TRX must overcome several intermediate resistances that can be studied in shorter time frames. Moving averages can also serve as a reference.
- The analysis will not work by itself if the Bitcoin domain is not considered together.
Other Technical Considerations and Projections for TRX
- TRON lows in the last year: This cryptocurrency fell to about $0.0117 in September 2019. Its lows with respect to Bitcoin were recorded close to the time when it touched 133 SATS.
- TRX highs in the last year: TRON took advantage of the bullish rally in the first half of 2019 to record a high above 0.04 USD. In terms of BTC, it has been exactly one year since its highs, where it exceeded 860 SATS (0.00000560 BTC).
According to both analyses, TRX’s downward trend will have several obstacles to face and its rise will be conditioned, to a certain extent, on the recovery of Bitcoin this year. At the moment, there is no bias in a specific direction and the scenario looks neutral.
Expert Predictions on the Future of TRON
Although we are not told in what proportion it will do so, the newspaper ‘U Today’ predicts that the TRX could increase in price in the coming months. In the report published in February 2019, they show the importance of TRON’s latest plans to get involved in the world of video games:
“TRON is looking to test new use cases for its platform and with the next step of adoption – which would be based on capturing the technology, there are many reasons to believe that Tron and the TRX token will be successful at least in the short or medium term”.
For his part, in a Bloomberg interview dedicated to Tron, Joey Krug (Pantera Capital CO-CIO), explains how the behaviour of this currency revives memories of the Bitcoin bubble. In addition to this prediction, it is difficult to find experts with more recognized profiles that give a perspective on this cryptocurrency. Mainly, this is because Tron is a lesser-known project in the industry and not many would dare to roll the dice and stake their reputations on future projections.
Other TRON Predictions for 2020
Due to the bullish season, some analysts went crazy and released early Tron projections that today seem unrealistic. However, being long term, there are still latent possibilities. Some experts have been a little more conservative. It should still be understood however, that the projections below were made at the beginning of last year.
The experts on the PricePrediction site believe that the price of TRON may reach $0.42 by the end of 2020. Experts in the uslifed crypto community predict that TRON could reach $5.72 USD per coin.
Tron Coin Price Prediction 2018, 2019, 2020 | TRX Coin Forecast https://t.co/YRmeLQhQ3g
— lupusRex (@bjam55) January 18, 2018
America Ru’s YouTube channel states its prediction for TRON at $1.37 by the end of 2020, and experts at the coincheckup site estimate that the price of TRON could reach $0.8053 by December 2020. Other analysts are leaning towards the downward side of the balance, given the controversies surrounding Justin Sun and its false advertising drums.
Workplan: Tron’s Development is Still a Long Way Off
The TRON story is just beginning. Half a year since the launch of its own network, (a stage known as “Odyssey”), there is still much to be done in terms of development and adoption. However, TRON has not wanted to make too many of its long-term plans available to the public. But there are some noted insiders who have disclosed some prospects of the project.
There would still be four phases for the future of Tron, which is outlined in the long-term. Its development would extend to the stage of stabilization and mass adoption, known as “Eternity”, whose completion is set for 2037. In 2020 the Great Voyage stage would begin, where TRON could become an ecosystem capable of launching ICOs. Then, would come the Apollo and Star Trek stages; Eternity would be the final icing on the cake. You can find more information in this article.
What do these TRON Predictions Conclude for 2020?
The future of the TRX price remains unpredictable, but considering that it is in its second stage, its value is expected to stabilize. The scenarios we have studied point to a lateral behaviour until a break of the mentioned levels or a general upward rally in the industry.
An important element about the future of this crypto coin, is the level of conviction that its founder maintains through a host of media domains and social networks. The project has been working on developing the foundations of its network. With a promising future that has not yet been reflected in its price due to a severe market correction, TRON continues to make efforts to recover and succeed.