The cryptocurrency market seems to be facing a correction after its recent surge. Bitcoin (BTC) hit a new all-time high of $89,864.13 on Nov. 12, 2024. BTC’s upward momentum triggered a market-wide rally over the last few days. Amid the correction, LookOnChain highlights that Tron’s (TRX) market cap has hit a new all-time high of over $16 billion.
While the project’s market cap is at an all-time high, TRX is down by 23.7% from its peak of $0.2317, which it accomplished in January 2018, almost seven years ago.
While the market is facing a correction, Tron (TRX) seems to be weathering the storm quite well. The asset is up by 5% in the daily charts, 8.7% in the weekly charts, 5.7% in the 14-day charts, and more than 10% over the previous month. TRX’s price is also up by 60.6% since November 2023.
Will Tron Hit $0.30 Next?
According to Changelly analysts, TRX will face a correction over the next few days. The platform anticipates the asset to trade at $0.14 on Nov. 17, 2024. Hitting $0.14 from current price levels will translate to a dip of about 17.65%. Changelly does not anticipate TRX to hit the $0.30 till at least August 2026.
According to Telegaon, TRX may hit the $0.30 mark in 2024. The platform anticipates the asset to trade at a maximum price of about $0.53 this year. Despite the bullish forecast, Telegaon does not clarify which month TRX may hit the $0.53 level.
There is a possibility that TRX will continue to rally over the next few days as the project’s market cap has soared to new highs. If BTC faces a drastic correction, TRX’s rally may be shortlived.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
