The price of the tron remains in a bear market after leaving 47% from its highest level in 2024, but three major catalysts can make it higher in the near period.
Tron (TRX) fell to $ 0.2395 on Thursday, causing its market capitalization to $ 20 billion. Its recent decline has reflected extensive altcoin weakness, with withdrawal of most digital assets this year.
Tron has three potential factors that can drive more priced in the near period. First, the tron meme coin is showing symptoms of ecosystem recovery. Sundog, the largest meme coin on the network, increased by 77% in the last 24 hours, leading to its market capitalization to $ 69 million.
The price of Tron Bull Coin increased by 38%, while the Suncat increased by 24%. These rallies increased their joint market capitalization by 57% in the last 24 hours, by about 90 million dollars. Additionally, cumulative Fee Up to $ 5.65 million in sunpump ecosystem.
Second, the ecosystem of the tron remains strong. Tron has become a leading blockchain for Thernic transactions due to its low fees compared to the atherium. Tronsacan Data suggests that the network processed $ 65 billion in Tithi transactions on Wednesday, with daily transactions quantities are often more than $ 100 billion.
This transaction growth has helped make Tron one of the most profitable blockchains in the cryptocurrency industry. Tron has produced more and more $ 441 million This year’s fees and crossing $ 2.4 billion in the last 12 months, Etharium (ETH) in profitability.
TRX is strong technology in value
Third, the technical indicators of the Tron suggest a potential rebound. Despite its sharp decline, the TRX remains above the 200-day moving average, indicating that the pullback may be part of an average repatriation recently-a process where an asset retretes towards its moving average.
Additionally, Tron is formed a falling veg chart pattern, which is usually a rapidly reversible indication of recognized rapid indication. This pattern consists of two declines and convergence trendlines, with a breakout they usually have near the convergence.
Tron has also developed a small inverted head and shoulder pattern, another rapid indicator. If it holds the setup, the next major level to see will be $ 0.4500, which represents an increase of 85% from the current price. However, a drop below the 200-day moving average at $ 0.2075 will invalve the outlook at this rapidly.
