Story Highlights
- The TRX price records a new ATH after 7 years.
- Tron’s price jumps over 100% in 24 hours with a trading volume of $14.603 billion.
- Sustained bullish sentiment could push the price beyond the $0.5 mark.
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.
Tron (TRX) Price Analysis:
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.
Will TRX Price Hit $1?
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!
FAQs
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.
