Will TRX Price Smash a Double-Digit Figure This Week?

Will TRX Price Smash a Double-Digit Figure This Week?

Key Takeaways: 

  • The Tron (TRX) price ended the previous day’s close at INR 6.76 with a market capitalization of INR 6,38,13,73,63,589 and a circulating supply of 98,55,31,90,549 TRX
  • The TRX price is maintaining a strong uptrend since the beginning of May and appears to be primed to rise a minimum of 10% this week to hit INR 8

Tron Price Analysis:  Will TRX Price Hit INR 10 This Week of May?

The TRX price after a massive rejection from close to INR 10, is attempting for a parabolic recovery. And hence may continue to range high, nullifying the negative market sentiments. The price is heavily consolidating along with INR 6.5 levels and as it gets a decent boost may propel high to hit INR 7 initially. 

As the price is maintaining a strong uptrend line since the beginning of May and hence may continue to range within the ascending triangle throughout this week. And eventually may slice through INR 7 resistance level and head towards INR 7.5 to INR 7.8 by the end of this week. 

Tron Price Prediction: TRX Price Trend Comparison with XRP (Last 30 Days)

Source: Tradingview

Tron and Ripple are independent blockchains similar to Ethereum and Cardano. Both maintained a steady trend throughout April’s trade but decoupled heavily in the last few days. The trend was continued since the beginning of May’s trade as the TRX price is rising, while the XRP price has plunged drastically. 

The TRX/USDT price after rising from -10.46% smashed +27.45% at the press time. While XRP/USDT after it decoupled from TRX, dropped heavily and slashed from -11% to as low as -35.09% at the press time. 

Check out the Latest Prices, Charts, and Data of  TRX/USDT.

Correlation of TRX/USDT and TRX/BTC (Last 30 Days)

Source: Tradingview

After an extended consolidation of almost the entire month of April, May’s trade appears to be pretty thriving. As both the trading pairs are maintaining a significant uptrend and despite multiple price slashes, the trading pairs recovered notably. Therefore, maintaining a strong uptrend, both the pairs appeared primed to head towards the north. 

The TRX/USDT pair rose from -11% to as high as +23.76% and presently swinging around 19.27%. On the other hand, the TRX/BTC pair rose from 3.55% to hit 65.03% and currently trading at 60.51% above the average levels. 

Additional Read: MIR Weekly Price Prediction of May

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
dYdX(DYDX) INR 304.91 +11.59%
Near Protocol (NEAR) INR 897.15 +10.94%
Axie Infinity(AXS) INR 2,513.18 +8.80%
ICON(ICX) INR 50.90 +7.99%

Top Losers

Crypto Price* 7-Day Percentage Change
Civic(CVC) INR 18.75 -7.41%
Apecoin(APE) INR 899.94 -6.48%
0x(ZRX) INR 48.41 -6.55%
Flamingo(FLM) INR 11.95 -4.78%

*Prices are of May 09, 2022, at the time of writing the article

What’s New on CoinDCX? New Coin Listings on CoinDCX App

Crypto Price*
Storj(STORJ) INR 61.95
JasmyCoin(JASMY) INR 1.24
Audius(AUDIO) INR 59.06
Waves(WAVES) INR 1029.72

*Prices are of May 09, 2022, at the time of writing the article 

Download CoinDCX App, India’s safest and simplest crypto exchange. 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


What do you think?

Written by admin

BTC May Slide Down Another 10% to 15% This Week

BTC May Slide Down Another 10% to 15% This Week

AXS Price Primed to Hit INR 4000 in May

AXS Price Primed to Hit INR 4000 in May