The Tron price has continued to display strong bullish action by adding significant value to its portfolio amid the ongoing market recovery. Further, Tron-based altcoins have recorded a similar action with some tokens experiencing a three-digit gain this month.
With this investors are curious to know the short-term prospects and its potential path to achieve the $0.2 mark. Moreover, questions like “How high will TRX price go?” and “Will Tron hit a new ATH soon?” are storming the internet.
Scroll down as, in this article, we have uncovered the market sentiments, price action, and possible short-lived price targets of the Tron (TRX) crypto token just for you.
Tron Price Successfully Regains Momentum:
The TRX price has formed an expanding channel pattern in its 1D time frame and continues to trade within it for a brief period. This altcoin has successfully outperformed the top 15 cryptocurrencies this month. This highlights increased market favourability for this crypto token.
Notably, the Tron price has jumped 4.39% in the past day with a trading volume of $928.26 Million. Moreover, it has added approximately 23% in the past week and 23.78% over the past month. It has rewarded its long-term investors with a YTD return of 52.89%.
The Relative Strength Index (RSI) continues hovering above the overbought range in the 1D time frame. This highlights increased price action for the altcoin in the cryptocurrency market.
Further, the Simple Moving Average (SMA) constantly supports the price chart. This suggests that the Tron price will continue gaining value in the coming time.
Will TRX Price Hit $0.2?
If the bulls continue to dominate the crypto space, the Tron price will prepare to test its resistance level of $0.1760 in the coming time. Maintaining the bullish sentiment will set the stage for TRX crypto to head toward its upper resistance level of $0.190.
On the flip side, if the bears regain power, the altcoin will retest its support of $0.1635. Further, if the bulls fail to regain momentum at that point. This could result in its price plunging toward its low of $0.1525 during the upcoming weeks.
