Will Tron (TRX) rise?

Tron, one of the major altcoins with its market value and blockchain activity, has lost nearly 10 percent of its value since last night. TRX, which rose above $ 0.19 the other day, is trading at $ 0.175.

Tron, the blockchain with the highest trading volume of Tether (USDT), has had difficulty keeping up with the potential bull run. AMBCrypto has examined TRX, which has shown a relatively weaker performance compared to other major altcoins.

In the analysis, it was stated that TRX, which reached an all-time high of $ 0.1920 the day before, may continue its rise.

TRX gained momentum with the statements of Tron founder Justin Sun and development activities in the ecosystem. The $TRX price has increased by 66 percent since the beginning of 2024. In fact, TRX remained weak compared to $BTC , which gained momentum with the US presidential elections.

An analysis prepared by AMBCrypto stated that the Bollinger Bands formed on the TRX chart signaled further increases. The analysis emphasized that the increase in TRX's trading volume and the recovery of investor interest were important factors.

“TRX showed strong upward momentum, last reaching April 2021 highs on the monthly chart. This movement shows that TRX has potential amid the intensified cryptocurrency bull cycle following Trump's recent election victory.”

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