Tron Price Prediction: TRX Nears $0.128 Resistance – Will it Surge Above?

The native token of the Tron blockchain, TRX, is approaching a significant price level of $0.128. TRX has been growing and outperforming strong contenders in the crypto market for a while.

In the past 24 hours, TRX has recorded an increase of almost 2%. Also, over the last seven days and 30 days, TRX has surged more than 3% and 10%, respectively, as reported by CoinMarketCap.

The broader crypto market has also increased by almost 1% in the past 24 hours, at $2.28 trillion. So, based on the rising bullish sentiment in the market, can TRX break its $0.128 resistance level?

Tron (TRX) Price Action - TRX Bounces Back

Tron's TRX token has shown impressive resilience this month. The cryptocurrency hit a low of $0.10 on May 28, marking a significant dip.However, since then, TRX has been on a steady upward trajectory. The token has regained lost ground and pushed beyond previous levels.

TRX traded at a price level of around $0.122 with a volume of $206 million. Its price action has formed a clear upward trend on the charts,setting higher lows and higher highs, a classic sign of bullish momentum.

If this trend continues, TRX could test new resistance levels in the coming weeks.

Tron (TRX) Price Analysis: Bullish Signals and Approaching

The daily chart reveals TRX moving within a rising wedge pattern, signaling a potential further upside.This pattern suggests growing buyer interest and increasing price momentum.

Also, TRX is approaching the significant resistance level at $0.128.This price point is crucial for the token's short-term future. A breakthrough above this resistance could trigger a more substantial rally.

Several technical indicators support the bullish outlook. First, the SuperTrend indicator flashes a buy signal, suggesting positive market momentum.The Relative Strength Index (RSI) also stands at 68, indicating strong bullish sentiment without being overbought.

Furthermore, TRX is testing the upper Bollinger Band. This behavior often precedes breakouts and confirms the bullish trend. It shows that buyers are pushing the price to new highs.

In addition, the Moving Average Convergence Divergence (MACD) is also above its signal line. This crossover typically signals bullish momentum and potential for further price increases.

Given these indicators, TRX appears poised for potential gains. However, traders must decide whether to buy now, anticipating a breakout above $0.128, or wait for confirmation of the breakout before entering.

If TRX continues its upward trajectory, buying now could offer better entry prices. Conversely, waiting for a confirmed break above resistance provides more certainty but potentially higher entry prices.

TRX shows strong bullish signals, but the approaching resistance adds an element of caution.As such, traders should consider their risk tolerance and strategy when deciding their entry point.

Factors to Aid Trader's Decision: IntoTheBlock Data Hints at Bullish Signs

According to data shared by IntoTheBlock on June 26, Tron's daily active addresses are reaching new heights. This growth indicates increasing adoption and usage of the Tron network.

Since January, Tron has seen a steady rise in active addresses. The network is now approaching a daily average of 2.5 million active addresses.

Since the beginning of the year, the number of active @trondao addresses has steadily increased, approaching a daily average of 2.5 million, far surpassing other leading Layer 1 networks pic.twitter.com/TCiatVqVOM

- IntoTheBlock (@intotheblock) June 26, 2024

Such growth in active addresses is a strong bullish indicator for TRX. More active addresses typically mean more transactions and network usage.

As more users engage with the Tron network, the utility of TRX naturally increases.Moreover, this growth demonstrates Tron's competitiveness in the blockchain space. This, in turn, could further boost TRX's value.

Justin Sun's Token Transfer: Is it a Bullish Sign for TRX?

On June 27, Justin Sun, a prominent figure in the Tron ecosystem, transferred 173.8 million TRX tokens to Binance. At the time, this transaction was worth approximately $21.4 million.

Large transfers to exchanges can typically be seen as bearish signals. They often indicate that whales or influential holders are preparing to sell.

However, despite this substantial transfer, TRX's price has remained relatively stable, suggesting intense buying pressure in the market. Another good news is that investors searching for short-term return opportunities could consider a new meme coin making waves in its presale.

Wiener AI: Meme Coin with AI Utility Secures $6M+ in Presale Funding

WienerAI is the coin making a splash in the crowded meme coin market with its unique presale.This new project combines humor, advanced AI technology, and an innovative community.

Already, it has raised over $6.4 million, signaling strong investor interest.WienerAI's approach sets it apart from typical meme coins, offering both entertainment value and practical utility.

Why WienerAI's Presale Stands Out?

WienerAI's presale success stems from its funny story and practical features.The project shares a story about an AI-dog hybrid mixed with a sausage.

This narrative has helped build a dedicated community called the Sausage Army." Beyond the humor, WienerAI offers real utility through its AI-powered trading bot.

This tool aims to help users make smarter trading decisions on decentralized exchanges.Additionally, the project provides attractive staking rewards for token holders.

According to the project, more than 5.9 billion tokens have been staked. The current reward is 174% APY. The presale's popularity is also due to well-planned tokenomics.

A large portion of tokens is allocated for community rewards and growth.This approach has gained support from influential crypto YouTubers, increasing the project's visibility.

Furthermore, WienerAI's roadmap includes important milestones like smart contract audits and exchange listings.These plans show the team's commitment to long-term success and development.

Currently, one token can be bought for $0.000723 through its website. WienerAI's unique approach could spike its price, potentially leading to significant returns for early investors.

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