TRON price analysis 25 May 2019; closing the day at a disadvantage

TRON is very reliant on its trading volumes, most of which is done on the Binance exchange. Around 90% of all TRX transactions is done there, so that should explain why the price fell so much a couple of days ago while Binance was not active.

However, the coin has still suffered quite a lot during the day. It had only one moment to shine only to have it taken away at the end. It is currently looking like it will close May 25th at $0.027 per coin. Although it managed to reach nearly $0.029 today. But there’s still hope.

TRX price chart 25 may

TRX chart by TradingView

Since most of the rumours about Binance introducing margin trading to the platform turned out to be true, it is expected that TRON’s trading volume is going to triple or even quadruple in the coming future.

Since the coin is so reliant on trading volumes to drive its price forward, it’s expected that in the first week of margin trading on Binance, TRX will jump to twice the price it will have at that time.

Seeing how there are around 2 maybe 3 weeks remaining until that time when TRX will be around $0.035 most likely we may see it reach as high as $0.07 or even $0.08 by the end of Summer 2019.

As for the short-term analysis, it still needs to pass resistance levels such as $0.029 by the end of Wednesday or it will fall in the bear market that’s predicted to repeat next week.

As long as the $0.0274 support level is maintained no serious bull rushed is to be expected. Therefore it’s very likely that TRX will be around $0.0269 next Friday.

At this point, it is best to wait for the bear to settle before entering a TRX trade and waiting for the Binance margin trading feature to be available.