- TRON has factored in an additional price increase of 3.52% in the last 24 hours.
- The altcoin’s daily trading volume has surged by 121.92% as per CMC data.
The crypto market has remained fairly bullish this past day. While certain altcoins followed Bitcoin into price breakouts, others including some leading altcoins have shown price drops. For instance, Solana and Chainlink showed initial downward movements. Meanwhile, Tron Network’s TRX has maintained its bullish movements.
In the past day, TRON has factored in a 3.52% additional price increase. This is the token’s second consecutive day of bullish movements after its significant drop last week. On December 4, TRON hit a new all-time high of $0.4407 amid the bullish market.
However, in the following days, it fell to the support level of $0.24 much to investors’ surprise. In the past few days, the cryptocurrency has begun climbing upwards once again, thus showing recovery signs. At the time of writing, TRON was trading at $0.2909 as per CMC data.
Zooming out, over the past week, TRON price shows a 5.10% increase as the token attempts to reclaim its bull run. At the week’s beginning, it was trading at a low of $0.26 after which it climbed to current levels. The altcoin’s weekly high stands at $0.3094 as per its charts.
Can TRON Price Reclaim its All-Time High?
Analyzing Tron’s technical indicators, the Moving Average Convergence Divergence (MACD) signal line still resides below the MACD line. This is an indication of a negative sentiment. However, its RSI stands at 56.18 suggesting a neutral market sentiment as per TradingView data.
This, when jointly interpreted with the current recovery signs can be suggestive of TRON’s reclaiming its bull run in the coming days. In the case of a bull run, TRON might face resistance at $0.3010 and $0.3290.
Furthermore, the Tron Network has seen several advancements these past few months. Recently, the network hit a new high in daily transactions in the month of August. Additionally, the network also reported a significant 170% growth in annual revenue.
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