Tron (TRX) has been in bearish grip since the start of 2020, but after mid-January, the price trend shows the currency bent on pushing away the bear pressure. If we look at the past 30 days’ price movement, TRX coin traded mostly with upward momentum. The price of TRON crypto has been fluctuating in the range between $0.014 – $0.022 in the said period.
TRON Price Analysis
TRX price has been mostly in the lower range for the most part of the past 30-day period. On January 13, the currency was trading at $0.01458 and then, it started showing upside movement and managed to reach $0.01805 in the next five days. After this hike of 23.61%, The coin faced a further reduction in price and the price fell to $0.01587 on January 24, the downward movement being at 11.66%. Later, the price of TRON had an upward rally to the tune of 22.89% at $0.01946.
On February 04, the price of TRX coin again fell marginally and touched $0.01841 by 4.91% drop. After this moderate correction, the currency started trading upwards with a steep hike of 24.04% and reached $0.02290. However, at this high, TRON couldn’t manage and dropped to $0.02154 by 5.95%. Today, the price has shown recovery to the tune of 8.37% at $0.02334.
TRX price has been severely hit by the bearish pressure since the beginning of the year, but this has not deterred the price from moving in the upward direction for the past few days. Analysts are banking on this capability of the coin to bounce back at regular intervals and expect the coin to show more stability during the year. Investors should continue to hold their investments and think from a long-term perspective. Short-term investors and day traders can continue to trade by carefully studying the ongoing volatility in the crypto market.