TRIAS token [TRIAS] has witnessed a notable price upsurge of 35.51% in the past 24 hours, currently trading at $3.71. The trading volume over this period has reached $2,837,335, indicating heightened activity and increased trader interest.
Over the previous week, the token’s price surged by 41.80%, outperforming the broader cryptocurrency market, which only saw a 1.70% increase.
Despite its strong performance recently, TRIAS still trails behind other smart contract platform cryptos, which altogether have escalated by 294.30%. The current market capitalization of the token stands at $36,480,036, backed by a circulating supply of 10 million tokens.
Price History and Trading Ranges
TRIAS has displayed significant volatility within the past week, with its price fluctuating between $2.42 and $3.77 over a 7-day period.
In the last 24 hours, the token’s trading range was between $2.70 and $3.83, indicating an uptick in buying pressure at higher levels. Despite this surge, TRIAS remains a considerable distance away from its all-time high of $31.70, attained on May 9, 2021, signifying an 88.5% decrease from its peak.
The recent price increase has brought TRIAS closer to reclaiming higher levels, with market participants eyeing $3.98 as the next resistance level.
On the downside, support levels are anticipated at $3.26, offering a potential buffer for price corrections in case selling pressure intensifies.
Technical Analysis: Bullish Momentum Indicated
Technical indicators suggest that TRIAS might experience further price gains if the current momentum continues. The Relative Strength Index (RSI) currently stands at 58.83, suggesting strengthening bullish momentum without entering an overbought territory.
A breach above the 60 level could confirm a continuation of the upward trend.
The Moving Average Convergence Divergence (MACD) has witnessed a bullish crossover, with the MACD line surpassing the signal line. The widening positive histogram further bolsters the bullish scenario, indicating heightened buying pressure.
A sustained break above the $3.98 resistance could signal a breakout, while failing to hold above $3.26 may result in a retracement.
Recent Developments and Market Projection
On July 18, TriasLab announced the initiation of an upgrade swap for TRIAS tokens on the Binance Smart Chain (BSC). This move allows users to convert their tokens to the new contract, a step aimed at enhancing the token’s ecosystem.
While this update may not directly account for the recent price surge, it showcases ongoing efforts by the project to enhance its infrastructure and attract user engagement.