{"id":445135,"date":"2023-10-04T20:24:29","date_gmt":"2023-10-04T20:24:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=445135"},"modified":"2023-10-04T20:24:29","modified_gmt":"2023-10-04T20:24:29","slug":"tron-price-estimation-trx-gearing-up-for-a-significant-surge","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tron-price-estimation-trx-gearing-up-for-a-significant-surge","title":{"rendered":"Tron Price Estimation: TRX Gearing Up for a Significant Surge?"},"content":{"rendered":"

Tron (TRX) price is up 1.5% in the last 24 hours and traded at $0.089180 as of 6:41am EST and it’s held onto gains above $0.0830 since August 19, sparking buyers’ interest.<\/p>\n

TRX’s trading volume for the day showed a 19.5% gain, reaching $363 million, and its price has risen 4.3% over the past week.<\/p>\n

Can Tron TRX Break Above The Ascending Triangle?<\/h2>\n
\"Tron
TRXUSDT Price Chart. Source: Tradingview.com<\/figcaption><\/figure>\n

TRX has shown upward momentum since August 19, reaching $0.091. However, at the time of writing, Tron TRX is showing intensified bearish pressure, as shown by the red candlestick. This is despite the overall upward trend.<\/p>\n

This upward trend receives additional support from the 50-day and 200-day simple moving averages, which are currently trading below the price at $0.072 and $0.081, respectively. Furthermore, the 50-day SMA acts as an immediate support for the Tron TRX price.<\/p>\n

Nevertheless, the Relative Strength Index (RSI) has displayed a downward movement, transitioning from above the overbought zone of 70 and crossing below, showing intense selling pressure during this period. At the time of writing, the RSI trades at 68.<\/p>\n

Tron TRX Price Estimation<\/h2>\n

Tron TRX price maintains a bullish bias, evident by the ascending triangle and support from the 50-day and 20-day simple moving averages. Considering this, bulls may drive the price above the triangle, targeting the $0.1 mark.<\/p>\n

However, if selling pressure persists, as shown on the chart and by the Relative Strength Index, bears could gain strength. They could push the price down to the $0.084 support zone. Further downward movement could lead to $0.079.<\/p>\n

Meanwhile, BTCMTX offers an enticing opportunity through its low-priced presale stage and stake-to-mine feature.<\/p>\n

Bitcoin Minetrix Presale Offers an Exciting Investment Opportunity<\/h2>\n

BTCMTX<\/u><\/a> is currently in presale and has secured an impressive $426,128 in funding. There’s strong investor interest in the platform’s offerings.<\/p>\n

\n

#BitcoinMinetrix<\/a> has yet again reached an important milestone!🪙<\/p>\n

Raising over $400,000. pic.twitter.com\/by85uMTqKE<\/a><\/p>\n

— Bitcoinminetrix (@bitcoinminetrix) October 4, 2023<\/a><\/p><\/blockquote>\n