Tron (TRX) hasn’t had the best trend in the past few weeks, but it’s currently on the path for a bull run in the coming weeks. Even at the current price of Tron, it is safe to say that this is the best time to invest in this cryptocurrency.
Tron is approaching a bullish run as its value increased more than 6.5% in last 24 hours, currently surpassing the 55-day and 100-day resistant levels. The fact that the cryptocurrency surpassed the significant resistant levels is a sign that its price value will increase. The breakout from the major resistance levels serves as the fundamentals for the cryptocurrency in the coming weeks in which it could surpass $0.10 price value. It is important to note that once the cryptocurrency upsurges and maintains its momentum, it could be as high as $1 in the crypto market.
Tron’s recent migration from Ethereum blockchain went successful, and its mainnet launch has been tremendous so far unlike other cryptos such as EOS. Although Tron’s current path to a bullish run is influenced by the sudden rise of Bitcoin (BTC) earlier last week – even at this, Tron has a solid foundation to maintain the momentum due to its mainnet structure.
The fact that Tron’s recent migration from Ethereum blockchain had been successful, lots of developers are attracted to Tron’s blockchain network. However, the increase in the number of developers in the blockchain network is undoubtedly an advantage.
Furthermore, Tron has recently been adopted by companies such as PornHub, Brazzers, and Trafficjunky. The rate of adoption of Tron’s blockchain will play a significant role in its bullish run. Another major company, Posteezy, recently adopted Tron as a medium of payment for its esteemed customers.
And yes, the recent BitTorrent acquisition by Tron’s CEO, Justin Sun is worth noting too. Additionally, Tron also caught the eye of gaming industries such as Natakugames and game.com; this will give Tron a fast growth in the coming weeks. If the adoption of Tron by major companies continues, it will foster a long-term value.
Another factor to Tron’s bullish run in the coming weeks is the launch of the Tron Virtual Machine (TvM) on the 31st of July. Tron’s TVM is compatible with Ethereum programming language; with it, Ethereum developers can make use of Tron’s blockchain by merely migrating their projects into it.
Ethereum developers can migrate to Tron’s blockchain network due to the fact that it is efficient and superior when it comes to transaction speeds. Also, Tron’s blockchain network is scalable and cost-effective. The migration of Ethereum developers will foster and maintain Tron’s bullish move.
Tron is a futuristic blockchain network, and despite being on the lows in the last few weeks, it has partnered with ‘big’ companies. Also, most companies are currently adopting Tron’s blockchain network for transactions because it is easier and faster.
Even at Tron’s current price value – with its slight increase this week, it is an excellent time to invest in Tron. The coin will maintain the momentum of its current price, and it is likely that it will increase. Tron sits on a long-term support level and will not trade below $0.05 anymore shortly.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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