After a successful bullish week, Tron (TRX) aims for more!
Tron (TRX) is continuing to climb this week, even as other major coins struggle to report significant gains. However, the coin isn’t finished yet, and we could see additional increases in the days ahead.
Continue reading for more insights, but first, here are the key points:
- Tron outperforms the market and is up around 15% for the week, according to tracker CoinMarketCap.
- Tron (TRX) is up 3% this week.
- The coin will attempt to hit $0.085 in the near term.
- Tron’s price action indicates that it is gearing up for more gains.
- The momentum indicator suggests that TRX is bullish.
- Tron’s fundamentals are also strong, with the coin reporting solid partnership and adoption news.
Tron (TRX) enjoys a fantastic week, gaining over 3%. This is in contrast to most other major coins which have been struggling to report any serious gains. The coin however finds some resistance at the $0.024 mark and it remains to be seen if it can break through this level in the days ahead.
Tron (TRX) – Price forecast
The crypto market as a whole has had a slow week. In comparison to other cryptocurrencies, however, Tron has performed well. The token is now up around 15% for the week and still has more room to grow.
If the present momentum continues, TRX will almost certainly reach $0.085 in the days ahead.
This bullish scenario will only be realistic if TRX closes the day above $0.7. The currency has recently dropped somewhat below this level.
However, considering the previous 24-hour highs and lows, it is likely that TRX will close significantly above $0.7. When this happens, the token may seek support at $0.08.
Furthermore, the current momentum is pushing TRX ever closer to its 200-day average. If bulls break through this level, Tron could experience a sustained period of growth. Therefore, traders should keep a close eye on TRX in the next few days.
Why should you invest in Tron?
TRX is a top 10 worldwide blockchain infrastructure project, according to Forbes. If you’re looking to invest in cryptocurrency long-term, this would be a good coin to buy.
Even in the immediate term, TRX still provides a lot of possibilities. In reality, the coin tumbles significantly from its all-time highs. This plunge may provide investors with an excellent chance to make money on Tron’s recovery over the following months.
About Tron (TRX)
Tron is an altcoin that has been gaining popularity in the cryptocurrency space. Launched in 2017, Tron aims to revolutionize the way content is created and distributed on the web.
With its decentralized platform and token-based economy, Tron aims to compete with existing centralized platforms like YouTube and Facebook.
The coin is also known for being a highly scalable and fast platform, making it ideal for dApps and other applications. Additionally, Tron is supported by a large community of devoted users and investors, which gives the project an added layer of stability and support.
The Foundation has been working hard to promote the adoption of its blockchain platform. Recently, they announced a partnership with Simblock Studios, which is a blockchain game development studio.
The Tron Group has been making a lot of progress lately. The team has successfully launched their mainnet and is now working on expanding their dApp ecosystem.
Therefore, with Tron’s recent bull run, now may be the perfect time to invest in this coin.
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