TRON [TRX] has recently experienced a noteworthy increase in value over the past five days, rising from $0.223 to $0.262. Despite this surge, TRX is currently stuck in a consolidation phase, trading within the $0.22 to $0.27 range.
As of the latest update, TRX is priced at $0.255, reflecting a 6.02% gain over the last week.
Following five consecutive days of upward movement, cryptocurrency experts have begun discussing TRX’s future potential. Joao Wedson from CryptoQuant is among those who have pointed out a potential upside, highlighting TRON’s compound annual growth rate (CAGR).
Positive Indications from TRON’s CAGR
In his evaluation, Wedson noted a potential upward trend for TRX, as the intermediate CAGR suggested room for further growth in the market.
Wedson referenced TRX’s climb to an intermediate CAGR level, indicating that TRX has stabilized at a moderate pace compared to its historical peaks.
For instance, in 2021, TRON’s CAGR reached exceptionally high levels fueled by a period of rapid appreciation and adoption.
Currently, TRX is positioned at an intermediate level, but given the current market scenario, the altcoin could experience an upsurge in growth shortly, driven by more favorable market conditions and increased adoption.
evidently, the rise in adoption and improved market conditions are evident in TRON’s Sunswap reaching record levels.
According to CryptoQuant, TRON’s Sunswap peaked at a monthly high of $4.5 billion after showing continuous growth throughout 2024, hitting a historic high of 20 billion WTRX.
Such a notable increase indicates improved market conditions within TRON’s ecosystem.
Analysis of TRX’s Market Trends
Market analysis showed that TRX has been exhibiting bullish sentiment in the short term, with investors anticipating a price surge.
Presently, the altcoin is witnessing significant buying pressure, indicating a buyer-dominated market where sellers are losing traction.
Currently, this trend is supported by a positive delta finding, further reinforced by a rise in buy imbalance, signifying buyer dominance.
Additionally, bullish sentiments are seen as TRON’s Futures basis records a positive trend, indicating that Futures are trading at a premium to spot prices – reflecting optimism for TRX’s future trajectory with investors eyeing further gains.
In summary, market conditions for TRX look favorable with optimistic investors anticipating an impending price hike for the altcoin.
Hence, if the current momentum persists, TRX is expected to break out of its consolidation range and reclaim the $0.27 mark. A successful breakout could drive the altcoin towards $0.3 in 2025. Conversely, a failure to sustain this momentum might lead TRX to drop back to $0.22.