Tron Price Hits New ATH! TRX Price Targets $0.5 This Week?
Story Highlights
- TRX price hits new high after 7 years.
- Tron’s price surged over 100% in 24 hours, with trading volume reaching $14.603 billion.
- Sustained bullish sentiment may push the price above the $0.5 mark.
Tron price hit an all-time high of $0.4407 during early Asian trading today as daily trading volume surged by approximately 515%.
Amid increasing bullish sentiment and high odds in the altcoin market, will the Tron ecosystem dominate the cryptocurrency market? In this article, we present a brief price analysis of the tenth largest crypto coin.
TRON (TRX) price analysis:
TRX price surged approximately 100% in 24 hours, with trading volume at $14.603 billion. Furthermore, it has gained 137.91% in the past month and is challenging USDC for the 09th position.
The 50/200-day EMA registers a significant upward trend in the Tron price chart. This indicates increased buying pressure on altcoins in the market.
The relative strength index (RSI) has broken through the overbought range and has risen sharply during the day. The TRX cryptocurrency is likely to continue to gain value this week as the average trendline crosses the same price range.
Will TRX price reach $1?
If bulls maintain price sentiment, Tron price may retest the $0.40 resistance. Furthermore, on a positive note, the altcoin could surpass its ATH this week and head towards its upper price target of $0.5.
On the other hand, if profit bookings increase, TRX token price may retest the $0.35 support. Additionally, if the bulls fail to sustain the price at this point, the TRX token may drop towards the lower support at $0.30.
Are you one of the many people considering buying the TRX token before the price reaches $1? read our TRON Price Prediction Unravel a long-standing mystery!
FAQ
If the bullish sentiment continues, TRX token price may reach highs of $0.73.
TRX has a year-to-date return of +264.64% and is gaining attention from top traders and institutions.
As adoption increases and bullish sentiment rises, this altcoin may break the $2 mark.
