Cardano (ADA), Tron (TRX) Price Prediction: The Fight for the Coin Market Cap’s Tenth Position
The first weekend of Q2 2019 has started strongly and go with that force !. Bitcoin has fulfilled to the letter all predictions of reaching the coveted cap of $ 5800, and this suggests that the forecast of $ 6000 is just around the corner as many have predicted.
As a result, the rest of the market has moved with a good level, intoxicated by the good optimism of the ecosystem and part of it can be seen in three key crypts to know in depth what is predicted in the coming days.
At the time of writing, the market has grown from $ 177 billion at a phenomenal jump of $ 185 billion, up + 4.5% in the last 24 hours, with BTC at 55.1%, growing up to 11.4% w / w.
It is the tenth cryptocurrency in the market with a trading price of $ 0.0696 per token, + 1.33% in the last 24 hours and a capitalization market of $ 1.8 billion.
In the short term, ADA has an ascending pattern generating at this moment the second wave of Elliot that is expected to complete over the course of the weekend and then go to the rally up to the level of R1 ($ 0.0759).
The estimated breaking point of the short and maximum cut in the short term is $ 0.0738 (+ 6%).
ADA still remains above the 50-day moving average, which is a good indication that we will have a higher next support for the altcoin, which is currently S1 ($ 0.67).
The Aroon indicator projects a similar pattern to Elliot Waves, with both indicators (bullish and bearish) heading to the bottom. As expected to achieve point D of the current wave, and then follow its bullish course to R1.
In the medium-long term, the horizon does not look different for Cardano. An upward trend in general can be seen from February 2019 when the cryptocurrency began to take off until reaching the level of R1 close to ten cents per altcoin.
After making a spin-ball, ADA projects that the medium-term correction is coming to an end and that the bullish market momentum could push prices to levels even above R1 (‘Y' point) by mid Q2 2019 This would imply a double-digit profit of up to 25% for the altcoin, based on its current price.
This pattern is confirmed by RSI, which presents high average levels of the last two bullish patterns similar to the current scenario.
The worst case scenario for the ADA is that it returns to levels of S1 ($ 0.053) 50% lower than the level of R1 achieved at the beginning of April when it started the current bull run.
The cryptocurrency of Justin Sun recently experienced a small setback due to the negative announcement of suspending their promised end-of-month rewards at Tether for the reasons we all know about this stablecoin and Bitfinex.
However, the altcoin of Sun has not stopped generating new cases of use through important alliances and that has been reflected in its price. At the time of writing, TRX is listed on high, with a spot price of $ 0.0241 (+ 1.60%) that allowed it to keep box 11 of the general classification ranking of cryptocurrencies.
Tron's case is particular. The cryptocurrency thanks to the bullish momentum of the market has benefited and avoided falling obviously in their prices for the effect that has had the incentives of Tether that many expected to operate in its blockchain.
Tron in the short term is just as bullish, but with less strength than the other two cases studied in this post. Its price is currently completing the second wave of Elliot and then take off next week at the level of R1 close to $ 0.256.
While it is not an excellent profit, it is also true that TRX does not represent an investment opportunity because of the large volume that can be moved with a small amount of money. Furthermore, its price has remained above the 60-day moving average and this allows us to infer, together with the bullish behavior of the Stochastic indicator, that the third wave (DE) will be generated in the short term.
To confirm the previous scenario, we found that at the medium-long-term level, for the 1D chart, TRX moves in a similar way to what was done at the end of last year.
This can be seen in the Elliot Wave Triple Correction indicator and in the RSI indicator, where the levels coincide with the price movements in these periods.
However, we must be alert with the cryptocurrency, given that a possible bearish scenario is expected to occur at the end of May, as a natural part of its price corrective scenario and then take off at levels of R1 ($ 0.030) previously reached in early April 2019
Given the proposed scenario, it will be important to closely monitor the movement of the cryptocurrency, in this crossing EMA 30 vs EMA 100, which will be essential to determine the trajectory of TRX in the medium term.