Tron Price Prediction: TRX Gains Momentum
TRX, the native asset of the TRON network, has seen consistent gains in February. The coin value has surged 18% from its monthly low to reach $0.13, breaking above a resistance trendline. A recent analysis shows that 99% of TRX addresses are in profit, indicating optimism within the network and a low probability of panic selling.
Is TRX Price Ready to Regain $0.15?
Since mid-November 2022, the Tron coin price has been on a steady rally within an expanding channel. The bull run has led to a 192% growth, with the coin value reaching $0.13. The TRX price broke free from overhead resistance on February 14th, suggesting an even more accelerated rally.
The TRON network has experienced a surge in USDT transaction volume, consistently exceeding $10 billion daily since October 2023. This positions TRON as the leading blockchain for USDT on-chain transactions, highlighting its dominance and utility.
If the TRX price sustains above $0.128, potential targets for buyers include $0.148 and $0.18.
Technical Indicator:
- Bollinger Band: The coin price challenging the upper boundary of the Bollinger band indicator suggests favorable trading conditions for momentum traders.
- Vortex Indicator: The VI+ and VI- in a wide bullish crossover state reflect buyer dominance in this asset.
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