Machine Learning Algorithms Set TRON (TRX) Price on April 30, 2023

Machine Learning

Justin Sun’s TRON native token, known as TRX, will soon be delisted from the US branch of crypto exchange Binance.

Binance said its decision was the result of regular evaluations that were influenced by a variety of criteria, including changes in the token’s risk profile, changes in trading volume and liquidity, and the token’s regulatory status in the United States. Announced. condition, and proof of fraud.

The exchange has not specified the exact reason that led to the delisting of the token, but it will be closed on April 17th at 10pm ET, although withdrawals will still be possible. TRX investors are skeptical about where Tron’s price will head in the coming weeks, as the US arm of the world’s largest exchange has been delisted.

With this in mind, Finbold looked at machine learning algorithms in its crypto-tracking platform. price prediction Measure the potential price of TRX at the end of the month.

Algorithms that rely on Technical Analysis (TA) indicators such as Moving Averages (MA), Moving Average Convergence Divergence (MACD), Bollinger Bands (BB), Relative Strength Index (RSI), Average True Range (ATR) 30 April According to the latest data obtained by , TRON is expected to trade at a price of $0.62779 on April 30, 2023.

30-day price forecast for TRX. Source: PricePredictions

Tron price analysis

As it stands, as recent data shows, TRON is currently trading at a price of $0.06417, registering a 3.79% decline for the day, bringing its total market capitalization to $5.8 billion.

TRX daily price chart. Source: Finbold

TRON Sentiment on the Daily Gauge on Financial and Cryptocurrency Monitoring Websites TradingView bearish So that summary suggests a ‘sell’ at 12. This is the result of the oscillator at 8 pointing to “neutral” and the moving average at 10 in the “sell” zone.

TRX Day Sentiment Gauge.Source: Trading View

Impact of delisting on TRX

After the announcement, TRX dropped more than 5% to trade at $0.06, but recovered about half of that loss by 7:15 am ET on Wednesday, April 11.

Tron founder Sun told Reuters that he appears unfazed by the decision and that the impact from Binance will be minimal. U.S. delistings are considered “relatively small.”

He also added that TRX traded less than $1 million per day on Binance.US, compared to $400 million for the entire token.

Disclaimer: The content of this site should not be considered investment advice. Investing is speculation. Your capital is at risk when you invest.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *