TRON’s price has surged notably in recent days, fueling a bullish momentum in the cryptocurrency market. As a decentralized blockchain system, TRON stands out among major cryptocurrencies with significant gains. Over the past week, TRON has fluctuated between $0.10 and $0.15, showing promising signs. The TRX token has impressively surged over 10%, marking a remarkable period of growth and investor confidence in its potential.
TRON price is above the $0.1100 mark, showcasing a dominant bullish trend. At the time of this report, TRX is valued at $0.1159, representing a substantial 24-hour increase of over 7%. The trading volume for TRX has witnessed a remarkable surge of more than 124%, now at $654 million. This uptick signals a heightened interest and involvement in the TRON market. Currently ranked at 11 on CoinMarketCap, TRON boasts a live market capitalization of approximately $10 billion, reflecting its growing prominence and investor confidence in cryptocurrency.
Mercado Bitcoin Listing: A New Chapter for TRON
Mercado Bitcoin, Brazil’s foremost cryptocurrency exchange, is excited to announce the addition of Tronix (TRX), TRON network’s native token, to its digital asset lineup. This inclusion signifies a major advancement in the exchange’s diversification strategy, underscoring its commitment to offering its customers a wider array of reputable digital assets. The addition of TRX to Mercado Bitcoin’s platform is anticipated to fuel a bullish trend for the token soon.
Hey fellow crypto enthusiasts! Exciting news to share today: #TRX has finally made its way to the prestigious Mercado Bitcoin! As a loyal TRON supporter, I couldn’t be happier about this major development. With Mercado Bitcoin being Brazil’s leading crypto exchange, this listing… pic.twitter.com/n8aOPbhLgX
— Life Style (@LStyle1269) January 12, 2024
The future trajectory of TRON’s (TRX) price hinges on key market movements. If the bulls gain the upper hand and propel the price beyond the $0.20 resistance level, a renewed momentum will likely lead TRX toward its next significant resistance at $0.30. Successfully maintaining this level could pave the way for an ambitious attempt to breach the $0.50 mark.
Conversely, a shift in market dynamics favoring the bears could see a reversal in TRON’s fortunes. A decline below the momentum threshold might result in TRX descending to its support level of $0.1 in the near future. A persistent bearish grip on the market could push the price toward a lower support level of $0.095.
TRX/USD 4-hour price chart, Source: Tradingview
The Moving Average Convergence Divergence (MACD) indicator reveals a positive trajectory as its ascending green histogram. Furthermore, placing the MACD and signal lines above the zero mark solidifies the current bullish trend. Moreover, the Relative Strength Index (RSI) has risen above 70, indicating an overbought condition, the prevailing bullish momentum in crypto.
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