News View Non-AMP

Breakout Alert! Tron (TRX) Poised for 30% Rally

Published by
Chandan Gupta

The overall cryptocurrency market seems to be recovering. Amid this, TRX, the native token of the Tron blockchain, is poised for massive upside momentum. The reason for this positive outlook is its bullish price action and the rising interest of traders in the altcoin, as reported by the on-chain analytics firm CoinGlass.

TRX’s Bullish On-Chain Metrics

According to CoinGlass, TRX’s long/short ratio currently stands at 1.15, indicating strong bullish sentiment among traders. The data further reveals that 53.50% of top traders hold long positions, while 46.50% hold short positions.

Additionally, TRX’s rising open interest (OI) has increased by 15% in the past 24 hours and 7.9% in the past four hours. The rising OI hints at increasing participation from intraday traders, further supporting the bullish outlook.

Tron (TRX) Technical Analysis and Upcoming Level

According to expert technical analysis, TRX has confirmed a breakout from its bullish double-bottom price action pattern and has further breached a crucial trendline it had been facing since December 2024. Following this breakout, TRX sentiment has completely shifted from a downtrend to an uptrend.

Based on recent price action and historical momentum, if TRX sustains itself above the $0.24 level, it could soar by 30% to reach the $0.35 level in the coming days. However, the altcoin’s Relative Strength Index (RSI) currently stands at 55, indicating that TRX is still in a zone where it could rally significantly.

With bullish sentiment dominating both on-chain and technical indicators, TRX appears well-positioned for a significant upward move in the short term.

Current Price Momentum

TRX is currently trading near $0.259 and has experienced a price surge of over 4.15% in the past 24 hours. During the same period, its trading volume increased by 5% and appears to be gradually rising, indicating heightened participation from traders and investors compared to the previous day.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Circle Secures UAE Approval to Boost USDC Operations in the Middle East

Circle, the company behind the $62 billion USDC stablecoin, has received in-principle approval from Abu…

April 29, 2025

USDC Issuer Circle Approved in Abu Dhabi, Taps Into Middle East Crypto Boom

Circle’s push into the Middle East just got a major push - with a regulatory…

April 29, 2025

FXGuys Presale 2025: The Ethereum Alternative Breaking Out During the Crypto Presale Boom

Are you looking for a digital asset with the features to deliver huge profits during…

April 29, 2025

Investors Flock to Bitcoin Solaris as Solana-Powered Token Aims to Replicate Bitcoin’s Historic Rise

Momentum is building fast around Bitcoin Solaris, and for many in the crypto space, it…

April 29, 2025

Terra Luna Repayment: How to File Your Claim Before May 16

The collapse of Terra USD and Luna coins left countless investors in turmoil. Now, as…

April 29, 2025

Celsius Founder Faces 20 Years in Prison; Token Price Soars 70%

Former Celsius Network CEO Alexander Mashinsky is facing a recommended sentence of at least 20…

April 29, 2025