TRON (TRX) Primed for a Logarithmic Price Surge, Analyst Projections Remain Bullish

TRON (TRX) has recently registered a minor price dip on the charts, dropping from $0.1678 towards the beginning of the month to $0.1654 – A 1.8% decline.

TRON (TRX) price analysis for the last week of December reveals a minor price dip. TRX dropped from $0.1678 at the beginning of the month to $0.1654 on the charts, showing a 1.8% decline.

However, the altcoin’s market capitalization climbed by 0.59%, while 24-hour trading volume surged by 20.49%. This surge in trading volume is a sign of growing investor interest in TRX.

These metrics, together, highlighted the sustained optimism around the altcoin’s ecosystem. It’s also important to note that TRON, fueled by strategic initiatives like token burns, is designed to reduce supply and encourage long-term value growth.

To the surprise of many, TRX has managed to stay above the 200 Simple Moving Average (SMA) line since the start of August, on the daily chart. This showcases a long-term bullish trend for the altcoin, as the SMA line’s position has continued to reinforce this bullish outlook.

Volume levels were moderate at the time of writing, with no major spikes. This points to a steady, low-volatility environment for TRX traders.

The Alligator indicator also showed three lines (green, red, and blue) converging, which can indicate a consolidation phase. This setup may also be interpreted as a sign that TRX has been gathering strength, possibly preparing for its next move.

At the time of writing, approximately 97.89% of all addresses holding TRX were “In the Money,” indicating that these holders were in profit relative to their purchase price.

Only a small percentage, 0.76% of addresses, were “Out of the Money,” meaning that these holders were at a loss at the altcoin’s press time price levels.

Meanwhile, 1.35% of addresses were “At the Money” – A level where the purchase price is nearly equal to the crypto’s press time trading price.

Such a high percentage of profitable addresses is a sign of strong market confidence in TRON, with a majority of investors benefiting from recent price trends.

Analyst projections for TRX remain bullish, indicating a logarithmic price surge that can push TRON towards the $1.11 target. The $0.1635 support level has historically catalyzed northbound movement. And, a successful retest of this level will invite further bullish action, setting up a possible hike to $0.18 this week.

Technical indicators also point to a sustained rally. In October 2024, TRON executed a major token burn, removing over 149.6 million TRX tokens from circulation. These had an estimated market value of approximately $25 million.

This burn is part of Tron’s commitment to reduce token supply, fostering scarcity, which can positively affect price stability over the long term.