Following this week’s impressive rally, the TRX price has broken above the previous bull run peak from 2021 in the $0.16-$0.17 area. This means that Tron is one of the rare cryptocurrencies that has managed to surpass its all-time high from the previous market cycle.
In fact, only Bitcoin has accomplished this among the top 10 cryptocurrencies, leaving behind the likes of Ethereum and Solana.
Tron’s Outperformance of Solana
Yesterday, we reported that Tron is currently outshining other Layer 1 blockchains in terms of various metrics, even the once-dominant Solana. This relative strength is likely driven by a combination of factors, including network updates, increased adoption, and new developments within the Tron ecosystem.
The chart shared by crypto analyst Ben Walther on CoinMarketCap paints a clear picture of Tron’s price action. The TRX/USDT pair on the daily timeframe reveals a well-defined upward trend, with the price consistently respecting a rising channel. The price has been trading within this ascending channel since late 2022, bouncing between the upper and lower trend lines.
Source: CoinMarketCap/@ben__walther23
The recent price action shows TRX entering the upper band of this channel, touching the upper resistance around the $0.166 level before slightly pulling back. This price behavior has been relatively stable, with moderate corrections rather than steep declines after each peak.
The post emphasizes the sustainability of TRX’s uptrend, noting that the asset has grown over 200% since November 2022 without appearing overheated. This is visually supported by the gradual ascent within the well-defined channel. Ben also highlights that TRX has pumped nearly 40% recently, entered the top 10 by market cap, and touched the upper resistance of its upward channel.
However, the he suggests that TRX might not go much higher at this point without broader market support, particularly from Bitcoin. Instead, consolidation within the upper band of the channel is expected, with a gradual move higher. The possibility of a parabolic move is there but deemed unlikely unless Bitcoin rallies strongly.
So, the broader market, particularly Bitcoin’s performance, will play a crucial role in determining whether TRX can break out of its current channel and potentially go parabolic. Overall, Tron is in a healthy uptrend, with sustainable growth and clear support and resistance levels, but the path forward may require patience and a favorable market environment.
Read also: How Realistic Are Solana ETFs in 2025? Bloomberg Analyst Weighs In
Best TRX Alternative?
In case TRX is already too big of a market cap for you, PandaWorld could be an interesting alternative to consider. This is an early-stage meme coin project, currently in the ongoing presale.
Unlike traditional meme coins that rely solely on hype, PandaWorld has built an ecosystem that generates revenue from various sources, which is then shared with token holders who stake their PADW tokens. Users can earn PADW tokens by playing games, with more tokens earned through increased gameplay. These tokens can then be staked to earn additional rewards.
PandaWorld also operates an online casino where users can play games using PADW tokens, with a portion of the casino revenue added to the profit pool that is shared with stakers. The project is developing a content platform where users can create, share, and earn from their digital content, such as art, memes, and other creative works. The revenue from this platform also contributes to the profit pool.
The revenue generated from the P2E games, casino, and content platform is pooled together, and PADW token holders who stake their tokens receive a share of this profit pool proportional to the amount they have staked and the duration of their stake.
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The post Forget Solana: Tron (TRX) Price Will Go ‘Parabolic’ but There’s a Catch appeared first on CaptainAltcoin.
