TRON (TRX) has emerged as a major contender in the cryptocurrency market, with its latest surge sparking speculation about a potential long-term rally.
The token recently broke above a crucial resistance level, indicating a shift in momentum that could fuel a sustained bull run.
Market analysts suggest that TRX could surge by over 505% from its current valuation, with projections pointing to a price target of $1.11.
The latest rally is in line with historical patterns that precede strong uptrends, and on-chain data suggests growing demand for TRX amid its growing presence in the decentralized finance (DeFi) ecosystem.
While technical indicators support the bullish outlook, traders remain cautious about short-term corrections and profit-taking.
The question now is whether TRX has the strength to sustain its upward trajectory or whether external factors could slow its momentum.
TRX Price Surge Drives Recovery
TRX's recent breakout from a multi-month consolidation phase has shifted market sentiment in favor of the bulls.
The price successfully broke above key resistance levels as strong buy orders pushed TRX higher.
According to the latest market data, TRX is testing the resistance zones of $0.2354 and $0.2422, levels that could determine the token’s next move.
Fonte: TradingView
From a technical standpoint, the formation of a Golden Cross — a scenario in which a short-term moving average crosses above a long-term moving average — indicates increasing buying momentum.
The 13-day moving average has moved above the 49-day moving average, reinforcing the uptrend.
Meanwhile, the Relative Strength Index (RSI) is currently at 51.96.
A rise above the 50 mark could signal a new wave of buying.
The Moving Average Convergence Divergence (MACD) indicator suggests a possible shift in momentum, with a bullish crossover forming.
If confirmed, this could further accelerate TRX’s price movement towards its long-term target of $1.11.
However, a failure to hold support at $0.2215 and $0.2150 could lead to temporary pullbacks before the next rally.
DeFi growth drives demand for TRX
Apart from technical indicators, TRON’s growing DeFi ecosystem is playing a crucial role in supporting the token’s bullish outlook.
The total value locked (TVL) on TRON’s decentralized exchanges (DEXs) has been steadily increasing, reflecting investors’ growing confidence in the network’s capabilities.
The shift from centralized exchanges (CEXs) to TRON-based DeFi platforms has led to increased utility for TRX.
As more users seek decentralized alternatives, TRX’s integration into lending platforms, staking pools, and decentralized applications (dApps) has strengthened its demand.
This trend reflects a broader shift in the cryptocurrency market, where DeFi activity is gaining traction as investors seek alternatives to traditional trading platforms.
Increased DeFi adoption could act as a catalyst for TRX price growth, ensuring long-term stability and reducing volatility.
With new projects being launched within the TRON ecosystem, the token’s use cases are expanding, making it an attractive asset for both individual and institutional investors.
Can TRX reach $1.11?
The market focus remains on whether TRX can maintain its positive momentum and reach the projected target of $1.11.
Analysts argue that continued buying pressure, combined with strong activity in the chain, could support further price appreciation.
External factors such as macroeconomic conditions, regulatory developments and broader market trends may impact the trajectory of TRX.
Short-term resistance at $0.2354 and $0.2422 remains crucial. A confirmed break above these levels could validate TRX’s uptrend, while a rejection could lead to temporary corrections.
Traders are also monitoring the support at $0.2150 as a drop below this level could delay the rally.
Overall, TRX’s technical setup, coupled with its growing adoption in the DeFi sector, positions it as a strong candidate for a major bull run.
While short-term fluctuations are inevitable, the long-term outlook remains bullish, with TRX potentially eyeing a move towards $1.11 if momentum continues to build.