The price of Tron (TRX) significantly increased in early December, reaching an all-time high of $0.4407 on December 4. However, it has not seen any notable gains since then. The TRX price currently trades at $0.257793, a steep drop of 40.24% from its highest price just 24 days ago.
Despite this decline, the Tron crypto price is still up 31.79% compared to a month ago and has increased by 11.45% in the past week. In the last 24 hours, TRX has become a top performer among the top 10 cryptocurrencies by market cap, rising by 4.75%.
The trading volume for Tron (TRX) on the last day is also notable; it was $1.19 billion, which is about a 50.09% increase from the previous day, according to Coinmarketcap data.
With Donald Trump’s inauguration as President-elect scheduled for January 20 and predictions of a big bull market and altcoin season peak in 2025, the price of Tron (TRX) could reach $1 or more in the coming weeks.
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Tron price poised to record 444% gains, targeting $1.11
On December 27, crypto analyst Javon Marks shared insights about the TRON cryptocurrency ($TRX) with his 49,000 followers. He pointed out that $TRX has risen nearly 300% after breaking out of a “logarithmic wedge” pattern. This pattern is a bullish sign where the price moves within narrowing trendlines before making a strong upward move.
Marks predicts an additional increase of 444%, suggesting the price could reach $1.11. This prediction is based on technical analysis, where the pattern size is used to estimate the potential price after a breakout.
The current technical indicators on CentralCharts show that TRON ($TRX) is stabilizing with a positive outlook. It is trading at $0.257793. The Bollinger Bands show less price fluctuation, with the TRX price near the Bollinger Average of $0.26954.
Key support levels include Major Oblique Support at $0.246 and the 50-day SMA at $0.23915, which could help support a breakout.
Resistance is at the Bollinger Upper Band of $0.31, which nears recent highs. If the Tron price goes above this level, it could indicate renewed upward momentum.
