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TRON price analysis 22 May 2019; constant growth ahead

TRON may 14

TRX is one of those friends that recover from massive drama without even having one scratch on them. That’s basically what TRON did after all of that controversy with the ex-CTO dubbing the project as the most centralized platform in the blockchain world.

Nevertheless, TRX only suffered a very small drop and is on the trajectory of following Bitcoin‘s success in the end. Its DAPP already being used far more than Ethereum‘s, which is supporting the upwards spiral to a whole new level.

TRX price chart 22 may

 

 

 

TRX chart by TradingView

The Fibonacci extension tells us that Tron has already surpassed its goal, the 38% extension, which means its well on its way towards the 50% and then hopefully the 78%. Should TRX surpass 50%, it’s very likely that nothing will stop it in the short term.

In the long-term, however, once the bull calms down, it’s expected to see it freeze during the end of 2019.

Now for the resistance levels.

it is expected that the hardest one the coin will face is the $0.029 mark as it has been teasing it for quite some time now. However, the ensuring price point that will shoot the coin to a whole new level is $0.030.

Should TRX break through that line, it will have a full-speed bullish sailing from then.

As long as the $0.027 and $0.028 support levels are maintained, the coin will be relatively stable.

At this point, it’s best to have TRX as a long-term plan, as existing the position too early may cost you hundreds by the end of 2019.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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