Crypto Sleeping Giants: TRX price - A 7x bull run by 2025
- TRX price points to strong bullish macro technicals.
- TRON price has auctioned within the same $0.06 zone for over five months.
- Invalidation of the bullish thesis is a breach below $0.0468.
Tron’s TRX price shows strong macro technicals pointing to a potential 2,000% rally from 2024 to 2025.
TRX price could shock the world
Tron’s TRX price has been coiling in a mundane fashion for most of the summer. When reviewing the macro technicals, it appears that a triangular pattern is taking place, justifying the lackluster price fluctuations.
Since 2020, TRX price has rallied 2,000 percent to all-time highs at $0.18. If the Elliott Wave Theory is correct, an additional 2,000% rally could be in the cards providing that the bulls can establish a successful weekly close above $0.12895, which is currently 100% above the current market value. The five-month unfolding triangle could be the catalyst to induce a 180% rally into the macro confirmation zone. The volume profile shows a significant tapering pattern which confounds the bullish macro idea
TRX/USDT 2-Week Chart
Because the triangle breakout has not occurred at time of writing, traders in the market should keep a wider invalidation point at $0.0468. Under no circumstances should this level get breached. In doing so, the bears would completely invalidate the triangle idea and could prompt further decline into the $0.0250 area zone, resulting in a 60% decline from today’s current price.
In the following video, our analysts deep dive into the price action of TRON, analyzing key levels of interest in the market - FXStreet Team
Author
Tony M.
FXStreet Contributor
Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.
