Why is The Price of Tron Still Under Pressure Despite Network’s DAU Highs?

According to reports for the Tron news today, the platform has registered new dApp DAU highs. Off course many individuals in the crypto space will expect this recent development with Tron to affect the price of Tron. But has this really occurred? Should we expect the Tron USD live price to rally because of this development? Well, as of press time, the price of Tron is still under pressure despite the Tron news today saying the network has attained new DAU highs.

For the Tron price forecast today, the price of Tron is down by 3.5% in the last 24 hours and 4.3% in the last week. However, experts and other stakeholders remain upbeat about the price of Tron. One of such individuals is Misha Lederman who serves as Tron’s advisor of the dApp Evolution Ecosystem. Lederman is bullish despite the fact that the price of Tron is still under pressure. He is of the view that TRX will begin an upward movement after the latest milestone attained by the network.

TRON (TRX) Price Today – TRX / USD



Tron Price Prediction: Why Lederman is Optimistic About the Price of Tron

Tron’s value proposition lies in the network’s TVM. Launched only three quarters ago, this protocol is compatible with that of Ethereum. Another fascinating thing about the network is perhaps Tron’s irresistible offers. Hence, because of the above-mentioned incentives (including Tron Arcade) some projects shifted camps and migrated from Ethereum and to Tron in a bid to settle for better speed and scalability.

When you add that to Tron’s acquisition and tokenization of BitTorrent, you’ll discover that it is not difficult to tell why Lederman is optimistic about the price of Tron. In Lederman’s latest tweet, he cited that Tron’s superior dApp, as well as daily active user count, is proof of the network’s superiority over competitors. He went on to add that the platform’s potential is just beginning to show.

Tron Price Prediction: The Price of Tron is Under Pressure After Dropping by 3.5% in the Last 24 Hours and 4.3% in the Last Week

The price of Tron is under pressure and has gone on to drop by 3.5% and 4.3% in the last 24 hours and week respectively. All in all, the technical candlestick arrangements remain supportive of the bulls.

From the last TRX/USD trade plan, it was forecasted that the asset was trending in a bullish pattern. Currently, TRX prices are ranging around $2.5, which may be neutral but bullish.

It is after a sharp move above April 30 highs which will confirm the double-bar bullish reversal from April 25-26 that traders will be able to load up tight stops at April 30 lows and $3.1. However, for the purpose of trend continuation, the price of Tron must close above $3.1 as buyers start to flow back.

Tron Price Prediction: The Price of Tron is Flat at $2.5

As mentioned above, the price of Tron is trading flat at $2.5. Although buyers remain in control of the market as long as prices remain above $2.1 or within January 14 lows. Along with the next wave towards $3.1 must be high volumes starting to exceed $13 million attained on April 25 according to the last TRX/USD pair trade plan. Losses below $2.1 must be in high volumes.


Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.


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