Bitcoin and Ethereum have been lagging in terms of gains garnered during the recent market rebound. Tron’s monthly gains have surpassed 60%, and the coin is now headed towards new highs. Despite these gains, TRX’s all-time high is still far away, and the coin needs to make a major rebound for this to be achieved. TRON is trading at $0.104 at the time of writing after a 5.9% gain in 24 hours.
Tron Price Analysis
Over the past 24 hours, TRX has managed to make a significant uptrend that has pushed the coin from lows of $0.009 to $0.1. Most of these gains are attributed to the market support garnered from the broader market, as BTC and ETH are gunning for $50K and $4000, respectively.
If market support and buying pressure continue to support the uptrend, we could see TRX retest the upper resistance of $0.108 and $0.11. This level will be achieved soon with support from the bullish sentiment across the broader market. If bulls stretch towards the remainder of the month, TRX has a high chance of reclaiming the high of $0.16 created in April. Reaching the 2018 all-time high of $0.23 will also be possible if overall market support holds.
On the other hand, we could also see TRX headed towards the lower support levels of $0.0098. The coin has retested this support severally in the past 24 hours, but the strong bullish sentiment across the broader market has enabled this support to hold.
TRON Founder, Justin Sun, is currently venturing into non-fungible tokens. Sun recently made a purchase worth $10.5 million for NFTs. The “Joker” NFT was part of the Tpunks NFT series recently launched on Tron, which seeks to copy the style of the popular Cryptopunks series. The NFT is currently taking place on the Tron blockchain.
Where to Buy TRX
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