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4 June 2023
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3 reasons why TRON Token will turn bullish, is it a good time to buy?

  • TRX was bearish for the better of 2022 but has performed better than other altcoins in the market.
  • As the year winds up, a partnership with EAA is a strategic alliance in the ecosystem.
  • The coin is highly deflationary, with over $1 billion coins burnt to date.
  • The coin is trading at a discount and will likely lead the next bull run.

TRON Token TRX has been relatively highly volatile throughout the year. The coin was bearish for the better but has performed better than other altcoins in the market.

As we cross into 2023, the ecosystem DAO seeks to make more strategic investments and changes to make the community more inclusive.

Justin Sun, TRON founder, has been a great advocate of the crypto industry, and the community can anticipate major announcements from him.

Is it a good time to buy TRX? The following section explores three reasons why the coin will turn bullish in 2023.

If big money into crypto comes just as Justin Sun predicts, TRX might as well lead the bull run noting their growing strategic investments in the region.

Justin Sun has shown great support for the ecosystem; in a recent move to calm nerves, he deployed extra capital for the ecosystem’s overcollateralized stablecoin USDD. USDD had for a while depegged from its US Dollar counterpart.

TRON DAO also announced the creation of TRON DAO ventures (TDV), marking a further step into decentralization. TDV will focus on elite startups and investments that will empower their development.

TRX price analysis and prediction

TRON token flipped Polkadot, Litecoin, and Shiba Inu to become the 12th largest crypto in the world by market value. 

TRON token is trading at $0.05421, up 1% in the last 24 hours, with a market capitalization of $4,985,944,015.

3 reasons why TRON Token will turn bullish, is it a good time to buy? 2

The William alligator trendlines reveal that the coin has been consolidating since the beginning of the month. A significant breakout usually follows such a scenario in either of the directions. 

The Moving Average Convergence Divergence (MACD) shows little price momentum.

The Relative Strength Index (RSI) supports the scenarios and rests in a neutral position. 

TRON token is trading at a discount, and as market sentiment recovers, the coin will likely lead the bull market and make it in the top 10 cryptocurrencies by market value.


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