bullish

Momentum

Higher

<p>Tron (TRX), holding its position among the top 10 cryptocurrencies by market cap, has surged to a 52-week high, capturing investors’ attention with its recent <strong>breakout</strong> and potential rally. Rising to a notable $0.1926, TRX is signaling bullish momentum, with technical indicators pointing toward the possible formation of a <strong>cup and handle pattern</strong>. Market participants are closely watching for sustained bullish movement, with eyes on key levels that may support further upside.</p> 
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<p>Currently boasting a market cap of $15.39 billion, TRX saw an <strong>11% jump overnight</strong> followed by a slight retreat, reinforcing its resilience despite recent price fluctuations. After a period of consolidation, the price movement has brought TRX into the spotlight. The cryptocurrency briefly broke through a <strong>rising wedge pattern</strong>, aiming for record highs, before experiencing a pullback that placed it at a critical juncture in its weekly performance. Investors are evaluating whether TRX can reclaim momentum and sustain its upward trajectory, aiming for a <strong>rally to new highs</strong>.</p> 
<h2 class="wp-block-heading" id="trx-hits-0-1926-but-experiences-a-brief-setback">TRX Hits $0.1926 but Experiences a Brief Setback</h2> 
<p>In a rapid upward move, TRX touched $0.1926, only to see a modest correction. Following this <strong>52-week peak</strong>, TRX retraced by 6.79%, reflecting the market-wide pullback, and is now trading at around $0.1747. On the weekly chart, a strong bullish candle showed support at the <strong>1.272 Fibonacci level</strong>, resulting in a 6.53% increase and positioning TRX for further gains. However, as <strong>Bitcoin’s recent downward movement</strong> has dampened buying interest, some investors are eyeing potential support levels below.</p> 
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 <img loading="lazy" decoding="async" width="1618" height="1200" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/chart15-1.jpeg" alt="chart15 1" class="wp-image-28962" title="Tron Reaches 52-Week High: Bulls Eye Higher Levels Amidst Breakout Potential 43" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/chart15-1.jpeg 1618w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/chart15-1-768x570.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/chart15-1-1536x1139.jpeg 1536w" sizes="(max-width: 1618px) 100vw, 1618px">
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<h2 class="wp-block-heading" id="rising-wedge-and-pullback-scenarios-key-levels-to-watch">Rising Wedge and Pullback Scenarios: Key Levels to Watch</h2> 
<p>While TRX’s rising wedge pattern hints at long-term bullish potential, some traders are noting market exhaustion, which could lead to a minor pullback. In the event of further retracement, support at the <strong>0.1688 Fibonacci level</strong> could become a crucial point. Staying above this level may reaffirm confidence in the ongoing uptrend.</p> 
<h2 class="wp-block-heading" id="technical-indicators-signal-bullish-momentum">Technical Indicators Signal Bullish Momentum</h2> 
<p>The weekly <strong>SMA lines</strong> show a positive trend structure, confirming bullish momentum. Additionally, the MACD and signal lines are avoiding downward crossovers, indicating support for a continued upward move.</p> 
<h2 class="wp-block-heading" id="can-trx-hit-0-2621">Can TRX Hit $0.2621?</h2> 
<p>The weekly cup and handle pattern reflects a bullish outlook, and TRX’s breakout above the neckline at <strong>$0.1434</strong> supports this trend. If TRX holds above the rising trendline through the weekend, market sentiment could favor another rally. In this case, <strong>$0.2011 and $0.2621</strong> are achievable targets, representing a potential 50% upside. Conversely, a dip below $0.1688 could signal a period of consolidation.</p> 
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 <img loading="lazy" decoding="async" width="1600" height="795" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/image-209.png" alt="image 209" class="wp-image-28960" title="Tron Reaches 52-Week High: Bulls Eye Higher Levels Amidst Breakout Potential 44" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/image-209.png 1600w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/image-209-768x382.png 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/image-209-1536x763.png 1536w" sizes="(max-width: 1600px) 100vw, 1600px">
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<h2 class="wp-block-heading" id="will-tron-s-bull-run-continue">Will Tron’s Bull Run Continue?</h2> 
<p>The question remains: Can TRX achieve a longer-term target of <strong>$0.50</strong>? Factors such as <strong>increased adoption</strong>, blockchain innovations, and market sentiment will play crucial roles in determining TRX’s trajectory. Investor interest in <strong><a href="https://www.turkishnyradio.com/" target="_blank" data-type="link" data-id="https://www.turkishnyradio.com/" rel="noreferrer noopener">Turkish NY Radio</a></strong> highlights the sustained potential for Tron as it navigates market dynamics and technical milestones.</p>

Tron Reaches 52-Week High: Bulls Eye Higher Levels Amidst Breakout Potential

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