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TRON's 2.12% Price Increase to $0.08369: Key Takeaways for TRX Traders

John Williams

Jul 28, 2023 — 1 min read

TRON's TRX token has seen gains over the past day, with the price up 2.12% to $0.08369. Trading volume came in at $241.98 million over the past 24 hours. Over the past week, TRX is up a notable 3.51% and over the past month it has gained 11.28%. The 6-month return is an impressive 31.39%, showing the strong upside momentum.

Analyzing the price action, TRX appears to be building momentum for a move back towards its 2022 high around $0.09. The gains have come on rising trading volume, confirming increased interest in the token. The bullish trajectory over the past month also suggests upside potential remains.

Should You Buy TRON Now?

For long-term investors, TRON remains appealing for its strong community and blockchain activity. The price is still far below its all-time high near $0.30, indicating massive upside potential. However, traders may want to wait for a breakout above $0.09 before entering fresh long positions.

What's Next for TRON This Year?

Given TRON's positive momentum, a challenge of the 2022 highs seems likely within the next few months. If Bitcoin sees renewed strength as well, TRX could potentially reach $0.12 or higher by year's end. However, downside risks remain until TRON can show a sustained breakout. Use tight stops on any new positions.

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