TRON Price Prediction: Top Gainer TRX Soars 66% As Pepe Unchained Presale Closes On $70M With Time Running Out

TRON Price Surges 66% in 24 Hours

The TRON price has experienced a significant surge, rising by 66% in the last 24 hours to trade at $0.3942 as of 02:25 a.m. EST. This remarkable growth has propelled TRON to the top of the market cap rankings among the top 100 cryptocurrencies, according to CoinMarketCap.

Sustained Price Rally

An analysis of the price chart indicates a strong bullish trend. In the past few days, the price has climbed significantly from a relatively flat consolidation phase around mid-November, where it hovered within the $0.20 range.

Trading Volume and Technical Indicators

Accompanying the price spike is a sharp increase in trading volume, suggesting significant buying interest. However, the recent candle formation indicates some profit-taking, as evidenced by a pullback from the recent high.

TRON is currently trading above both the 50-day and 200-day Simple Moving Averages (SMAs), signaling the ongoing uptrend. Additionally, the Relative Strength Index (RSI) stands at 79, indicating intense buying pressure. While such high RSI levels often accompany euphoric buying, they can also serve as a warning sign for potential cooling-off.

The MACD line (blue, 0.0424) remains well above the signal line (orange, 0.0215) in positive territory, confirming the persistence of bullish momentum. However, the rapid expansion of the MACD histogram suggests that momentum may be peaking and could decelerate soon.

Price Prediction

Based on a 4-hour timeframe analysis, TRON is currently in a sustained uptrend. Continued buying pressure may push the price towards $0.50 or higher. Nevertheless, profit-taking and overbought conditions make a pullback likely. Support levels to monitor include $0.30 (psychological level and previous resistance) and the 50-day SMA at $0.22.