Picture of the author

Bit Analyst

2024/12/05 03:11

Tron (TRX) Price Eyes to Reach $1 The Tron price

Tron (TRX) Price Eyes to Reach $1

The Tron price surged gigantically by over 100% in just a few hours,  pushing it towards a new ATH at $0.44. The prime reason is an increase in liquidity with a surge in Tether minting new USDT across Ethereum & Tron networks. As a result, the token’s trading volume surged over 500%, making it the 4th largest traded asset for the day after USDT, BTC, and ETH & XRP. 

The bulls appear to have gained huge strength, but the current trade setup suggests there could be some scope for a pullback. The price is testing the upper resistance of the rising wedge and if it breaks out, the price will surge to $0.7 and face a retracement to $0.5 followed by a rebound to $1. However, the monthly RSI has reached above 91, suggesting a relaxation phase may soon begin. This could keep the price consolidated within the wedge until it reaches the apex and later breakout beyond $1. unnamed (73).png

3Поделиться

Все комментарии0НовыеВ тренде

НовыеВ тренде
noContent

Нет записей