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You are here: Home / News / Tron (TRX) Breakout Confirmed: Analyst Predicts 40-45% Bullish Wave
April 28, 2024 by Ammar Raza
Tron (TRX) is now gaining a lot of attention from the cryptocurrency market because it is showing an exceptional increase in its value. Even though the general market has been undergoing a bearish trend, TRX has shown itself to be not only resilient but also highly performing, especially over the last week, where it managed to gain 9% in value, which is quite impressive.
According to the latest update, the price of TRX today is $0.120037, with a trading volume of $21.67 billion over the past 24 hours. This surge in trade volume indicates that there is indeed heightened interest and activity around this particular asset within the markets. Moreover, TRON has a market capitalization of $11.08 billion, which makes it one of many significant players in the cryptocurrency space as well.
Source: CoinMarketcap
Despite the crypto market’s volatile nature, TRX has maintained its upward trajectory, with a modest increase of 0.29% in the last 24 hours. This consistent growth amid market fluctuations further underscores the resilience and strength of TRON’s market performance.
Analyst Predicts Tron (TRX) 40-45% Bullish Wave
Looking at Tron (TRX) from a technical perspective, it has breached the lower boundary of an upward trend channel over the medium to long term. This suggests a potential slowdown in the rate of ascent initially, possibly signaling the beginning of a more sideways movement.
Tron (TRX) finds support around the 0.11 mark and faces resistance around 0.14. The negative volume balance implies that sellers are assertive while buyers are subdued, exerting downward pressure on the currency and undermining its strength.
Despite this, in a recent analysis, the esteemed crypto analyst World Of Charts delved into the intricate movements of Tron (TRX) prices, offering valuable insights to investors and enthusiasts alike. With a keen eye on market dynamics, they highlighted a pivotal moment: confirming a breakout for $TRX. This confirmation signals a momentous shift in the market landscape, indicating that TRX is poised for a sustained uptrend.
This evaluation made by World Of Charts is not just a speculation but it is a deep analysis based on understanding how cryptomarkets function. According to their optimistic prediction, it is believed that TRX will rise further and might also have a very strong bullish wave between 40% – 45%. Such expectations encourage traders and investors as they suggest that significant profits can be achieved through this venture.
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