The price of TRON (TRX) has been showing a very bullish trend recently, with an increase of more than 20% in the past week. The price of TRX is currently riding a wave of positive momentum, reflecting the upward trend of the global market. Moreover, this upward trend seems to have strong momentum to rise further, and there are more and more signs that the market will continue to rise.
TRON Price Overtakes Solana in Meme Coin Trading
TRON’s price has recently surpassed Solana to become the leading online platform for trading meme coins. This significant development comes after TRON launched its meme coin platform Sunpump, which has attracted more attention than Solana’s competitor Pump.
Comparing the meme coin activity on the two networks clearly highlights Tron's dominance. This sharp surge in popularity may just cater to those who are interested in high-risk investments and meme coin trading. The famous meme coin Bluechip$SunDog currently has a fully diluted valuation (FDV) of $189 million. This valuation marks its important position in the Tron network, although it is still not high in the broader cryptocurrency market.
According to Coinglass, total trading volume fell sharply by 30.06% to $498.46 million. However, open interest showed a positive trend, increasing by 3.93% to $191.85 million. This shift shows that despite the decrease in trading activity, the interest in positions is increasing, which is likely to indicate that market confidence will become stronger in the coming period.
TRON Price Prediction: Can the Bullish Trend Push TRX to $0.3?
TRON’s price has experienced significant gains, rising by 5% in the past 24 hours. During this time, the cryptocurrency has been trading within a range, reaching a high of $0.163 and falling as low as $0.154. This trend shows that the trend of digital currencies in the short term, although unstable, is overall positive.
At the time of writing, TRX price is hovering at $0.1615. This price point was observed early in the European trading session and marks a slight improvement in the upper limit of its daily trading range. TRON price is rising, showing a possible bullish trend in the market. If this upward momentum continues, TRON price may climb to $0.2 and may even reach a new high of $0.3. With the increasing bullish activity, TRX may surge to $0.05 in the upcoming rally.
The 4-hour technical indicators for TRX price highlight a period of mild volatility and trading interest. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, indicating the presence of potential upside momentum as the gap between the MACD line and the signal line widens. In addition, the relative strength index (RSI) is 63, approaching the overbought zone, but still indicating strong buying interest in the market.
Conversely, a downturn in market conditions could see TRON price stabilize around $0.16. A prolonged decline could push it to $0.15, signaling a bearish phase. Further pressure could push TRON price prediction down to the $0.13 support level.
