TRON, the popular cryptocurrency with a current price of $0.084149, has seen a slight decline of nearly 3.50% in the last 24 hours. Despite this dip, TRON remains ranked at #10 on CoinMarketCap and has a live market cap of $75 million. The digital asset has a circulating supply of 89,700,960,494 TRX coins, while the maximum supply is still undisclosed.
With its impressive performance, TRON is positioning itself to become one of the top 10 cryptocurrencies worldwide. Investors are increasingly intrigued by TRX and are wondering if it has the potential to become the next big thing in the crypto market.
In this Tron price prediction, we will examine TRON’s recent price movements, market rankings, and its path to reaching the upper echelons of the crypto world. We will also explore other alternative coins like Wall Street Memes and Burn Kenny, which are gaining momentum in the market and attracting investor attention.
The recent breach above the resistance level of $0.08244 has transformed it into a support level for TRON. The presence of a bullish engulfing candle closing above this level adds to the likelihood of the ongoing uptrend continuing.
However, a closer look at the 4-hour timeframe reveals that TRON has crossed below its 50-day exponential moving average, which previously acted as a support level around the 0.08300 mark. This breakdown suggests an increased potential for the downtrend to persist. Additionally, both the relative strength index (RSI) and the moving average convergence divergence (MACD) indicators currently indicate a bearish outlook.
Given these technical indications, it is advised to consider initiating a short position if TRON drops below the $0.08244 level, with a target set at the $0.07783 level. On the other hand, a bullish breakthrough above the $0.08499 resistance level may present potential buying opportunities, with upside targets at $0.08853 and $0.09079.
In addition to TRON, there are other promising altcoins worth watching closely. One of them is Burn Kenny Coin, a meme coin opportunity that sold out its $500,000 presale in under 48 hours. Its launch on Decentralized Exchanges (DEXs) on July 24 is generating significant interest. Inspired by South Park’s Kenny gag, Burn Kenny Coin is gaining attention in the meme coin market.
Another altcoin to keep an eye on is Wall Street Memes. This online community for individual investors has achieved an impressive fundraising rate of over $17 million within a few weeks of its meme coin, $WSM, presale. Investors can acquire $WSM for $0.03222 per coin during the presale phase, with the price gradually increasing to $0.0325. Participating in the presale could potentially yield guaranteed gains.
It’s important to note that investing in cryptocurrencies carries a high level of risk. This article is provided for informational purposes only and should not be considered investment advice.