TRON (TRX), the original token of the decentralized blockchain platform TRON, has been going up every day and every week while the market as a whole has been going down. As the positive trend grows, TRX’s price starts to show signs of a major shift.
Most coins are down, but TRX is going against the general bearish trend. The asset is going up because there are more busy users and more traffic on the network. This is different from the rest of the market because the global crypto market cap has dropped from $2.6 trillion to $2.2 trillion due to a decline in many assets.
As a result, Bitcoin’s price has dropped below $61,000, which is similar to how altcoins and meme coins are feeling. In spite of this, TRX stands out as a bright spot, and its price is expected to rise even more.
TRON Defies Market Trends
At $0.1255, TRON has gone up by 2.78% today, more than any other major cryptocurrency. TRX’s value has grown by 12% in the last 30 days, bringing its market cap to $10.9 billion.
Its value has grown by 5% in the last week. According to CoinGecko records, the amount of TRX traded every day has increased by 14% to $246 million. A lot of activity on the blockchain is adding to this bullish push.
Some experts think that TRX will break through a number of resistance levels, but others warn that the general bearish outlook could slow its progress upward. But this week, TRX’s active addresses have been around 2.5 million per day, which shows that growth will continue to rise throughout the year.
Technically, TRX’s price has taken back the daily exponential moving average and looks ready to break through the levels of support that are currently in place. A strong Relative Strength Index (RSI) is helping the price of the asset move in a wedged pattern.
On the other hand, other coins are losing value as the market continues to change. Bitcoin’s price has dropped 0.47% to $61,030, and Ethereum’s price has dropped to $3,388, a drop of 1.78% in the last 24 hours and a 3% drop over the week.
This month, BNB started off strong, but it has dropped to $571, a 2.48% drop this week. In the same way, Solana, Ripple, and Avalanche have all seen daily losses. Even though market sentiment is low right now, some experts are still optimistic that rising bullish sentiment could bring assets closer to their highs from the first quarter of 2024.
