Amid increased uncertainty in the crypto market, the Tron project has outperformed all the top 20 cryptocurrencies including Bitcoin with a surge of over 20% in the past month.
Following this, Tron-based altcoins gained significant attention from the investors resulting in many tokens recording three-digit gains within a short period. With this, investors are actively following this blockchain and are curious to find out the outcome of TRX-based tokens.
In this article, we cover the market sentiments, price analysis, and possible price action of Tron & SUNDOG crypto tokens.
TRX Price Retests Its Support Trendline
Despite recording a correction of 0.39% within the past day with a trading volume of $285.84 million. The Tron price has jumped over 2% during the past week and 19.86% in 30 days. With a YTD return of +41.62%, it has secured the 10th position in the market.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram. Further, its averages have started stabilizing in the Tron price chart. This suggests that the price may regain bullish sentiment in the coming time.
If the market holds the TRX crypto price above its support level of $0.1525, it will prepare to retest its resistance level of $0.1650 this month. Conversely, a trend reversal could pull the price toward its support zone of $0.140.
SUNDOG Price Records Higher Lows
Amid rising volatility, the SUNDOG crypto has plunged ~10% in the past 24 hours. However, it has added 30% over the past week and 340.39% since its inception. With a market cap of $285.96 million, this project has secured the 211th position in the market.
The Relative Strength Index (RSI) successfully retests its neutral point in the 3H time frame. This indicates a strong bullish influence in the crypto market. Moreover, the SMA is on the verge of recording a bullish convergence. This highlights a positive outlook for the altcoin in the coming time.
If the market continues to gain momentum, the SUNDOG price may retest its upper resistance level of $0.40 in the upcoming weeks. On the flip side, if the bears regain momentum, it could plunge toward the support trendline of the rising channel pattern.
Also read, Tron Price Prediction 2024 – 2030
