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TRON (TRX) continues to demonstrate its strong position in the cryptocurrency market, with a market cap of approximately $12.50 billion and a 24-hour trading volume of approximately $736.20 million. Ranked #10 on CoinMarketCap, TRX is trading near $0.1435, reflecting continued investor interest.
TRX Key Statistics
- Current price: $0.1435
- Market capitalization: $12.50 billion
- Trading volume (24h): $736.20 million
- Circulating supply: 86.94 billion TRX
- Total supply: 86.94 billion TRX
- CoinMarketCap Ranking: #10
Over the past 30 days, TRX has increased by 3.17% from its peak, and over the past 7 days, it has increased by 5.58%. Furthermore, compared to the lowest prices recorded during these periods, TRX has jumped by 22.27% over the past month and 14.37% over the past week. This consistent upward movement underscores TRX’s resilience and growing investor confidence.
TRX/USD Market Analysis
Key levels:
Resistance: $0.144, $0.145, $0.150
Support: $0.139, $0.129, $0.118
The TRX/USD pair is currently testing a critical resistance at $0.144. The Bollinger Bands suggest that the TRX pair is trading near the upper band, indicating strong bullish momentum. The position of the MACD line above the signal line supports this assumption, suggesting further gains are possible. If the TRX pair breaks above $0.144, it could target the next resistance levels at $0.145. However, if it fails to break above this resistance, the TRX pair could retreat towards the support at $0.139 and $0.129, where renewed buying interest could emerge.
Will TRX Maintain Its Uptrend?
TRON’s recent bullish momentum raises the question of whether TRX can maintain its upward trajectory. The cryptocurrency has shown remarkable resilience, bouncing back from previous lows and pushing towards higher resistance levels. If TRX manages to successfully close above the $0.144 resistance level, it could trigger a continued rise towards $0.145 and potentially $0.150. This scenario would likely attract more buyers, reinforcing the bullish sentiment. The expanding MACD histogram and the price’s position above the middle Bollinger Band suggest that the market is leaning towards further gains.
TRON VICTORIOUS AGAINST THE SEC
TRX/BTC Performance Information
TRX has shown significant strength against Bitcoin, with the TRX/BTC pair recently hitting 0.00000238 BTC, marking a 3% gain over the past 24 hours. This move puts the pair above the upper Bollinger Band, signaling a robust uptrend. The MACD also reflects continued bullish momentum, suggesting that TRX could target the next resistance around 0.00000239 BTC.
In a tweet by @cryptodeadline, TRON (TRX) could be facing significant price impacts. It was reported that the TRON ecosystem is experiencing a surge in memecoins following an alleged $10 million allocation for these tokens. As a result, TRX’s volatility has increased nearly sevenfold.
So Memecoins on #TRON Ecosystems are exploding because #TRON would have allocated $10 million for #Memecoins and now developers are running towards the #TRON blockchain.
The number of tokens created on the platform has reached almost 5,000.
TRX volatility has increased nearly 7x, now totaling… pic.twitter.com/phdokSXQA5— 𝕃𝖊𝖆𝖉𝖑𝖎𝖓𝖊 ☠️ (@cryptodeadline) August 19, 2024
Alternatives to TRON
As TRON continues to hold its ground, another cryptocurrency that has garnered considerable attention is PlayDoge ($PLAY). PlayDoge is rapidly gaining momentum, backed by a vibrant community and an impressive presale, which has raised over $6 million to date. This strong support underscores the growing interest in the project and hints at its potential for substantial returns.
PlayDoge pre-sale ending soon
PlayDoge stands out for its innovative features and the energy of its community, positioning it as a promising contender in the cryptocurrency space. As the official launch of $PLAY approaches, the project presents a unique opportunity for investors looking to diversify their portfolios with assets with high growth potential. With the momentum rapidly building behind PlayDoge, this could be a great investment.
Visit PlayDoge
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