TRON's TRX token saw moderate gains on Monday, rising 2.14% over the past 24 hours from $0.08084 up to $0.08256. This extends TRX's short-term uptrend, now gaining almost 2% over the past week.

Trading Volumes Still Relatively Low

Despite the upside price movement, TRON's 24-hour trading volume remains muted at around $178 million. This is far below the $1 billion+ daily volumes that TRX saw during its price peak in early May 2022.

Lower relative volume signals that buying interest and upside momentum for TRON could still be lacking. A surge above $500 million would help confirm renewed market enthusiasm.

Technical Picture Improving in Near-Term

Analyzing TRX's price chart, the technical outlook has strengthened over the past two weeks. TRON broke out above its 20 and 50-day moving averages and shows bullish crossover patterns on the MACD and RSI indicators.

This points to building bullish momentum in the near-term, especially if TRX can close above short-term resistance at $0.085. Further upside appears likely over the coming weeks.

Long-Term Trend Also Turning Positive

Looking at the multi-month timeframe, TRON has reversed its downtrend and now shows a positive long-term trajectory. TRX has gained 16% in July and is up 34% over the past 6 months.

With strong on-chain activity and protocol development, TRON's long-term investment case remains compelling as adoption grows. This is reflected in the improving price action.

Prediction: Continued Upside Towards $0.10

Given the bullish confluence of technical factors and on-chain trends, my prediction is that TRX will rally further in the short-term towards the key psychological level of $0.10.

This would mark a nearly 25% gain from current levels. Look for TRON to gather momentum as trading volumes continue increasing week-over-week. The long-term investment case also remains very bullish.

Does TRON's Rally Signal a Resurgence for Altcoins?

TRON's steady 2% gain contrasts with continued weakness across most major crypto assets like Bitcoin and Ethereum. This could signal some resilience specific to altcoins in the layer 1/scaling solution sector.

Other similar altcoins like Solana, Polygon and Cardano are also up slightly on the day. Traders may be taking advantage of depressed valuations in this segment of the crypto market before a broader bounce materializes.

However, daily trading volumes across the altcoin sector are generally still low. Further follow-through and higher conviction upside moves will be needed to confirm an altcoin trend change. Near-term risks remain until Bitcoin gains momentum.

Should You Buy TRON After the Recent 2% Gain?

TRON's modest 2% single-day rally back above its 20-day MA presents a reasonable short-term buying opportunity. The technical picture shows improving momentum.

However, risks remain until TRX sees a spike in trading volume and further upside confirmation. Consider limiting position sizes and dollar-cost averaging over the coming weeks to manage risks. Have a plan ready in case the rally stalls near $0.085 resistance.

But for long-term investment timeframes, accumulating TRX during periods of consolidation makes strategic sense. TRON retains top-tier blockchain technology with significant upside as adoption increases globally.