$TRX

The "Divine Candle" of TRON has appeared, TRX skyrocketed by 70%, how high can it fly?

Brothers, TRON has been on fire lately! TRX surged 70% in just 24 hours, reaching a historical high of $0.45, with market capitalization soaring by 65%, making a comeback to the top ten in cryptocurrency market cap, sparking market discussions. Is this "Divine Candle" the starting point of a new bull market or just a brief celebration? Let's talk about it together.

Market Highlights:

Surge Data: TRX has risen a total of 140% from the low of $0.16 on November 5, with over 94% increase in just the past 7 days. On December 4, the spot trading volume surged to $14.6 billion, with a month-over-month increase of 510%.

Open Interest Hits High:

TRX's overall open interest surged by 180%, reaching $438.3 million, a new three-and-a-half-year high, with a clear increase in demand for leveraged long positions.

Market Cap Returns to Top Ten:

Market cap reached $32.8 billion, surpassing AVAX and firmly holding the tenth position. Sun Yuchen stated: "TRON remains one of the top ten players."

Market Opinions:

Bullish:

Technical analysis shows that TRX has broken through the historical high of 2018, with a target looking towards $1.00 to $1.80. The increase in open interest and financing rates supports the upward trend, and the altcoin season may have already started.

Bearish:

The current rise is too rapid, and it may pull back to around $0.33. The cost of high leverage funding may also drag down short-term performance.

Action Suggestions:

Aggressive: Focus on $0.35 support; if it holds, consider attempting to buy the dip, targeting $0.50 or higher.

Conservative: Wait for a pullback confirmation to avoid chasing the high risk.

Brothers, TRX's momentum is as fierce as a flying pig, how far do you think it can fly? Share your thoughts in the comments!