TRON Price Prediction: 2024, 2025, 2030

TRX price prediction: Key highlights

1. Primary support and resistance levels

• An examination of the weekly chart revealed that the lowest support level was established at $0.075.
• Meanwhile, the highest resistance level is expected to be at $0.148.

2. Market sentiment

• The dominant market sentiment is seen to be bullish in August 2024.

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, the average price of TRX is projected to exceed $1 in 2026, with a future increase to more than $10 in 2029.

Given below is an extensive weekly technical analysis of TRX, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

TRX technical analysis: Threat of corrections looms large

The market’s prolonged bullish stance on TRX has propelled it into the limelight. As stakeholders look to gauge its future trajectory, understanding market trends and other developments will be crucial in shaping the Tron price prediction in 2024.

The analysis commenced with the asset rallying from its lowest yearly support at $0.075. This uptrend drove it over the critical $0.101 mark, concurrently testing the $0.108 level in November. Following this, TRX consolidated within this range for nearly two months.

A bullish breakout in mid-January turned the $0.108 level into a firm support base. Furthermore, February witnessed a significant bull run, propelling the price to challenge its peak resistance at $0.140 in the month's latter half. 
 

AMBCrypto revealed that Tron’s growth was buoyed by optimistic network developments, including plans to launch a Bitcoin (BTC) Layer 2 solution, which could further bolster the blockchain's value.
 

However, this peak preceded increased selling pressure as investors began to exit their positions. Moreover, the broader market downturn returned the asset to $0.108 by the second week of April.
 

A late-month rally culminated in the asset exceeding $0.121 in early May. Nonetheless, the inability to sustain this high led to a slight retracement but not to previous lows. Unlike many other altcoins, TRX saw continued growth in June.

The rising adoption of USDT trading on the network and the steady growth of daily active addresses and transactions were major contributors to this uptick. After reclaiming $0.121 in July, the asset pumped to retest the peak resistance by the second week. 

The appreciation coincided with the increase in long-term holders and the substantial exchange outflows of $13.1 million worth of TRX, as reported by AMBCrypto. The asset has since maintained proximity to the highest resistance, exchanging hands at $0.129. 

Going forward, a sustainable run could potentially push the price beyond $0.140. However, any further upside might be limited by significant resistance at $0.148, with a substantial amount of TRX possibly being liquidated just around this mark.

If the market faces another rejection and moves southward, the price can again find support at $0.121. A drop below it can push the price back to $0.108, turning the market bearish.

Predictive models remain optimistic about the asset's future, projecting an upward trajectory. The average price could reach more than $1 within the next two years, and by 2029, it could soar to as high as $10.

TRX's 2024 roadmap: Key indicators to watch and trade

• The Bollinger Bands’ frequent expansions coincided with the candles’ contact with the upper band. The bands converged as the price fell below the 20-week Moving Average (MA) briefly in April and from late May to June.
• However, volatility remained low even as the price reinstated its dominance and touched the upper band again in July, indicating renewed buying pressure. 
• The trading volume reflected substantial investor presence throughout the period. Notably, even during price drops, the volume surged. Nonetheless, the recent rally was met with a receding volume, signaling caution.
• The Relative Strength Index (RSI) remained above the 50 line for most of the analysis period. It briefly ventured into the overbought region in late September, then for a substantial period between late October and November, and again between early February and March. 
• A pronounced decline succeeded the last foray over 70. This pushed the indicator briefly below 50 in the first half of April and again in late May before recovering by early June. As the analysis concluded, the RSI registered at 56.02. This highlighted the broader bullish trend.