Tron Price Chart

Tron price prediction remains bearish, as it has already breached a double bottom support level of $0.0547 and is now descending towards $0.o46. TRON DAO, the blockchain network’s official Twitter account, published some of the protocol’s performance highlights from November 7 to November 13 on November 16.

At the end of the given period, the total number of accounts connected to the blockchain was 119,949,499, and the total number of transactions facilitated by it was 4.19 billion.

TRON Total Value Locked (TVL) also surpassed $12.3 billion, and its blockchain height surpassed 45.83 million. This remarkable increase in network activity and value occurred during the same week that the FTX crypto exchange platform failed, severely affecting the crypto sector.

TRX/USD price decline was slowed by the news that TRON network activity is still positive despite the FTX crisis. TRX/USD began trading at $0.05156 on November 23. It has fluctuated between a high of $0.052 and a low of $0.048. TRX/USD is currently trading at $0.0511, a nearly 4% surge in 24 hours.

Here’s what’s going on with Tron.

Justin Sun Expresses His Thoughts on the Advancement of NFTs

On November 15, Justin Sun, the creator of Tron, gave an interview in which he discussed his predictions for the future of NFTs. In the interview, he stated that “the current generation of NFTs doesn’t offer much in terms of utility.” Fortunately, a number of new initiatives are testing out novel use cases, whether for Web3, the metaverse, or play-to-earn (P2E) and play-and-earn (P&E) games.

He went on to say that NFTs have been and will continue to be the foundation for many initiatives and achievements during this critical stage of Web3 development. Surprisingly, the Tron NFT space has expanded in recent weeks. The total number of NFT trades and trading volume in USD increased, which was good news for the ecosystem.

Several other on-chain data points, in addition to the NFT market development, suggested that TRX investors would soon be satisfied. This ecosystem expansion may also benefit the price of TRX/USD.

Recent Events Influence Tron Price Prediction

TRON was one of the cryptos with the highest Galaxy score, according to LunarCrush research. It was encouraging for TRX because it suggested that the price would rise in the coming days. TRON also released its weekly statistics on Twitter on November 21, which contained some important data about its ecosystem.

For example, the platform has completed its project submission for the third season of the TRON Hackathon 2022 and has successfully concluded its “Hacker House” event at Harvard University. TRX/USD appeared to benefit from these developments.

TRX, on the other hand, has been unable to maintain its position in the cryptocurrency world as its social volume has fallen in recent days. It could be the cause of the TRX/USD price decline.

Tron Price Prediction – Daily Technical Levels

Support Resistance

0.04994 0.05238
0.04837 0.05325
0.04750 0.05482

Pivot Point: 0.05081

Tron Price Prediction – TRX to Gain Support at $0.046

TRX/USD has broken through a descending triangle that was supporting Tron at $0.055. The same level is now acting as a barrier. Tron has formed a double bottom pattern at the $0.046 level, and a breakout of this could expose TRX price to the $0.04550 level.

Tron Price Chart

Furthermore, the RSI and MACD are bearish, as is the 50-day moving average, which is currently hovering around $0.060. Consider selling below $0.055 or buying above $0.046 today.

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