The post TRON PRICE ANALYSIS & PREDICTION (August 18) – TRX Sets For A Big Explosion Following Recent Monthly Bounce appeared on BitcoinEthereumNews.com.

Following a recent monthly bounce, which brought the bulls back after a short break, TRX advanced higher this week with another 10% gains. It appeared strongly bullish, looking set for a bigger price movement. Recent data from Token Terminal has shown that Tron’s protocol revenue has outperformed Ethereum’s by 50%. If the trend continues, the revenue could even surpass $2 billion this year according to Justin Sun – the founder of Tron. However, its native token – TRX has increased by roughly 4% today in continuation of the monthly gain. It is currently pacing strongly on the daily chart, aiming to break out of a key trading zone in the mid-term.  Although the $0.135 level may pose a little threat on the way up but we can expect an explosive rally when a major breakout occurs at $0.145. While the broader market sentiment is becoming greedier by the day, there’s still room for huge growth as the future looks so promising for the asset from a long-term perspective. The monthly outlook shows that the price is still trading in a liquidity zone. As of now, there are no signs of selling in the market. if by chance the bears show up again, we may see a small pullback before resuming bullish at full speed. TRX has technically maintained a higher high and higher low pattern since April. More positive actions should be expected as long as it maintains this bullish pattern. Tron’s Key Level to Watch Source: Tradingview Reclaiming last month’s $0.1395 resistance should pave the way for a major break out of the yearly high of $0.144 to $0.155. A higher target level for buying would be $0.2 in the near term.  If the price drops, we may see a pullback to the $0.127 support. Failure to bounce off…

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Filed under: News - @ August 18, 2024 3:49 am