TRX Poised for Massive Upside Momentum, Confirms Breakout from Bullish Double-Bottom Pattern: Analysis

The overall cryptocurrency market seems to be recovering. Amid this, TRX, the native token of the Tron blockchain, is poised for massive upside momentum.

As the broader cryptocurrency market shows signs of recovery, TRX, the native token of the Tron blockchain, is displaying strong bullish momentum, thanks to favorable price action and surging trader interest, according to the on-chain analytics firm CoinGlass.

TRX traders are overwhelmingly bullish, with a long/short ratio of 1.15. Top traders have also piled into TRX, with 53.50% holding long positions and 46.50% holding short positions.

Moreover, TRX's rising open interest (OI) has increased by 15% in the past 24 hours and 7.9% in the past four hours. This surge in OI indicates increasing participation from intraday traders, further bolstering the bullish outlook.

A technical analysis by an expert reveals that TRX has confirmed a breakout from its bullish double-bottom price action pattern. It has also breached a crucial trendline resistance that it has faced since December 2024. Following this breakout, TRX sentiment has completely shifted from a downtrend to an uptrend.

Based on recent price action and historical momentum, if TRX sustains itself above the $0.24 level, it could soar by 30% to reach the $0.35 level in the coming days. However, the altcoin's Relative Strength Index (RSI) currently stands at 55, indicating that TRX is still in a zone where it could rally significantly.

With bullish sentiment dominating both on-chain and technical indicators, TRX appears well-positioned for a significant upward move in the short term.

TRX is currently trading near $0.259 and has experienced a price surge of over 4.15% in the past 24 hours. During the same period, its trading volume increased by 5% and appears to be gradually rising, indicating heightened participation from traders and investors compared to the previous day.