The price of #TRON✅ ($TRX ) has been one of the top performers in recent months, partly due to its vocal and dedicated founder, #JustinSun . However, reaching the $0.5 mark may not be as quick as some investors expect. While meme coins can sometimes cause rapid price spikes, TRX might take a slower, more gradual path to achieve this milestone.

Currently, the price of TRX is around $0.1598, reflecting a 0.4% increase over the past 24 hours. While growth is positive, investors must ask themselves how long it will take for their investment to rise by 200% and reach the $0.5 target.

The Path to $0.5: How Long Will It Take?

Many investors hope that hitting $0.5 will be quick, but the reality might be different. As of October 2024, TRX is trading around $0.16 and is in an ascending channel. Data from Token Terminal shows that TRON has seen a rise in daily active addresses and revenue, which is typically a bullish signal.

TRON's price has respected this rising channel since late 2023, but if it doesn't break upward soon, it could take 608 days for the asset to reach $0.5, potentially putting the target at January 2026.

The price is also approaching its previous all-time high, indicating a strong resistance zone. If the price continues its slow ascent, it could break $0.186 in October or November 2024, but might not reach $0.22 until 2025.

Short-Term #TRX✅ Price Potential

Despite the long-term challenges, TRON shows the potential for an 8% increase in the short term. The TRX price chart reveals a bullish continuation pattern, indicating possible growth in the near future.

The price has broken above a rising wedge, a very bullish sign. The immediate resistance is at $0.162; a breakout above this level could open the door to higher targets around $0.171, representing an 8.51% increase from the current level.

The RSI (Relative Strength Index) is at 59.49, which suggests that TRX is still in a healthy upward trend. While there is room for more gains, caution is advised as RSI approaches 70, a potential overbought signal.

TRX Support and Potential Risks

The ascending trendline provides strong support near $0.156. If the price of TRON falls below this level, it could signal market weakness, and the asset might find lower support around $0.1540, $0.1500, and $0.1470.

While technical analysis suggests that reaching $0.5 in 2024 is unlikely, the volatile nature of crypto markets leaves room for surprises. An upcoming bull run or significant catalysts could shift the trajectory of TRX and bring the $0.5 target sooner than expected.

TRON’s Journey to $0.5

Although TRON shows a steady upward trajectory, the path to $0.5 will likely be gradual, and based on current trends, it could take until January 2026. While short-term gains of 8% are possible, technical analysis suggests that hitting $0.5 in 2024 is unlikely unless major market changes occur. Investors should prepare for slow and steady progress, managing expectations accordingly, as the volatile nature of the crypto market could influence TRX's price trajectory in the future.

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