A naukri.com initiative
Coinjournal
1M
144
Image Credit: Coinjournal
TRON price forecast: active addresses surge amid a bullish breakout
- TRON's active addresses and transactions have hit all-time highs, indicating potential for a significant price breakout.
- The TRX price is close to breaking out from a bullish flag pattern, with a target of $0.50 in sight.
- The blockchain has shown resilience by holding above key support levels amidst both downside risk and upside opportunities.
- A surge in daily transactions and active addresses has boosted long-term bullish sentiment for TRON.
- TRON's price currently hovers around $0.279, showing signs of a broader upward trend with a monthly gain of 13%.
- Technical indicators suggest a bullish structure for TRON, with EMAs providing dynamic support.
- TRON is breaking from a bullish flag pattern on the daily chart, setting the stage for potential continuation moves.
- On-chain sentiment is divided, with derivatives market data indicating increased short positioning alongside expectations of a price decline.
- Fundamentally, TRON's outlook is bullish with record high active addresses and growing user engagement.
- TRON's increasing adoption in DeFi and peer-to-peer transfers, especially for USDT transactions, is driving its ecosystem growth.
Read Full Article
8 Likes
For uninterrupted reading, download the app