After displaying a neutral trend for a brief period, the Tron price is on the path of achieving a new yearly high. Notably, this altcoin has surged over 12% over the period of 4 days and is presently exchanging hands at $0.2559. Moreover, with a market capitalization of $24.29 billion, this altcoin has secured a position among the top 10 cryptocurrencies.
On the other hand, with the cryptocurrency market back above the $2.70 Trillion mark and top tokens successfully breaking out of their important resistance levels, marketers speculate this week to be a bullish one for the community.
TRX Price Jumps Double-digit in 96 Hours!
The Tron price today is on the verge of closing its 4th consecutive positive candle for the first time since 02ns March, highlighting an increase in the buying-over-selling pressure for the altcoin in the market. Furthermore, with a 77.86% surge in its daily trading volume, this altcoin now dominates at 0.9057%.
The Moving Average Convergence Divergence (MACD) witnesses a constantly rising green histogram in the daily time frame. Moreover, with its EMA 12 & 26-day recording a similar price trend, the TRX coin price may continue gaining value.
While the cross EMA 50-day displays a positive crossover, the 200-day acts as a strong support to the price trend. This highlights a strong rise in the bullish sentiment for the altcoin.
Will Tron Price Hit $0.33 This Week?
Considering the present market sentiments, the chances of the TRX crypto token retesting its immediate resistance level of $0.2775 is high. Notably, a sustained bullish action could push the price of this altcoin toward its upper target price of $0.33 in the upcoming time.
On the contrary, if the bears dominate the crypto space this week, this could pull the price of Tron token toward its crucial low of $0.2110 within a short period.
Also Read: Tron Generates $12M in Fees This Week, 2X More Than Ethereum
