With a surge of ~515% in its daily trading volume, the Tron price has achieved a new all-time high of $0.4407 during the early Asian trading hours today.
Amid increased bullish sentiment and a high possibility of an Altcoin market, will the Tron ecosystem dominate the cryptocurrency market? In this article, we have covered the short-lived price analysis of the 10th largest crypto token.
The TRX price has soared ~100% in 24 hours with a trading volume of $14.603 billion. Moreover, it has added 137.91% over the past month and is on the path of challenging USDC for the 09th position
The EMA 50/200-day record a significant uptrend in the Tron price chart. This suggests an increase in the buying-over-seeling pressure for the altcoin in the market.
The Relative Strength Index (RSI) has breached the overbought range with a sharp spike in the daily time. With the average trendline surpassing the same price range, the TRX crypto may continue gaining value this week.
If the bulls maintain the price sentiment, the Tron price could retest its resistance level of $0.40. Furthermore, with an optimistic outlook, this altcoin could surpass its ATH and head toward its upper price target of $0.5 this week.
On the flip side, if the profit-booking increases, the TRX coin price could retest its support level of $0.35. Moreover, if the bulls fail to hold the price at that point, the TRX token could plunge toward its lower support of $0.30.
Are you one of many who are considering buying a TRX token before it hits $1? Read our Tron Price Prediction to uncover the long-term mysteries!
If the bullish sentiment sustains, the TRX coin price may reach a high of $0.73.
With a YTD return of +264.64%, the TRX price is under the limelight of top traders and institutes.
With increased adoption and rising bullish sentiment, this altcoin may surpass the $2 mark.
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