Coinspeaker
Tron (TRX) Price Prediction: Bullish Technical Patterns Signal Potential TRX Price Rebound
Tron network’s native token,
TRX
$0.25
24h volatility:
1.2%
Market cap:
$21.16 B
Vol. 24h:
$531.11 M
, has been stuck in a bear market after falling 47% from its highest price in 2024. On Thursday, the token dropped to $0.2395, bringing its total market value down to $20 billion.
Like most altcoins, Tron has struggled amid the recent market downturn. However, according to current market trends, three key factors suggest that Tron’s price could rise again soon.
Three Key Catalysts That Could Boost TRX Rebound
Memecoins have been gaining traction in the crypto space, and Tron’s ecosystem is seeing signs of life in this sector. Sundog, the biggest memecoin on the Tron network, jumped 77% in the last 24 hours, pushing its market cap to $69 million.
Likewise, Tron Bull Coin and Suncat tokens have also seen positive movement as their prices surged by 38% and 24%, respectively. This price increase has pushed their joint market cap to nearly $90 million.
Meanwhile, user activity in the SunPump ecosystem on the network has surged, pushing total fees to $5.65 million. The growing interest and demand in Tron’s memecoins could boost TRX’s price to a new height.
This trend is similar to how the rise in memecoins influenced Tron’s price in the past, as reported by Coinspeaker.
Another potential factor that could help boost the coin’s price is the efficiency of its blockchain. Due to its lower fee, the platform has become the biggest network for Tether (USDT) transactions, compared to Ethereum.
On Wednesday alone, on-chain data revealed that Tron handled $65 billion in Tether transactions, with daily volume often surpassing $100 billion. This steady growth has made Tron one of the most profitable blockchains in the industry.
So far this year, the network has earned $441 million in fees; over the past year, it has made $2.4 billion, more than Ethereum.
Coinspeaker reported that the monthly revenue of the Layer 1 blockchain increased by 46.5%, surpassing the Ethereum, Solana, and Bitcoin networks as of last year. Tron’s strong network and steady growth helped push its token price up. If history repeats itself, this trend could lead to another price recovery.
Tron Outlook Shows Possible Recovery Signs
Even though Tron is facing a bearish drawdown, its core support level has stayed above the 200-day moving average. This means the current drop might be temporary, with a chance of bouncing back soon.
TRX/USDT 4H Chart. Photo: TradingView
Tron is also forming a ‘falling wedge’ pattern, which traders see as a sign of an upcoming price jump. This is visible with the Relative Strength Index (RSI) pushing past the neutral zone. Another positive sign is an ‘inverse head and shoulders’ pattern. This pattern suggests that Tron could climb back to $0.4500 if the price holds steady.
This is a possible 85% increase from its current level. However, this positive outlook could change if Tron falls below the 200-day moving average at $0.2075.next
Tron (TRX) Price Prediction: Bullish Technical Patterns Signal Potential TRX Price Rebound
