The TRON coin has been among the best gainers in the cryptocurrency market. TRX, just like most altcoins, has been on a steady uptrend since late July. The uptrend has led to the altcoin making new highs and breaking significant barriers.
TRON is trading at $0.0861 at the time of writing after an 8.1% gain in 24 hours.
TRX Price Analysis
The gains made by TRON in recent days mean that the coin’s value has increased by around 27% in the past week. TRX has increased steadily over the past two weeks, and despite some resistance, it has broken past critical barriers.
If the uptrend continues, the next resistance for the coin is at $0.095, which could create a rally for the token towards breaking the next critical resistance of $0.1. This will be a positive sign for the coin, as it could pave the way for the upswing towards reclaiming the all-time high of $0.23 set by the coin in May.
On the other hand, we could also see TRX heading towards lower levels. In this case, it will retest the lower level of $0.075, which could create an ideal entry position for new traders that could gear up a bull run. Nevertheless, market support remains strong, which means that TRX’s upswing could continue, at least for the short term.
The TRON Foundation recently made a big strategic investment after launching TRON Arcade. The foundation is launching a $300 million fund together with APENFT and WINKLink. This fund aims to grow the GameFi ecosystem and incubate GameFi and NFT projects in the next three years.
Justin Sun, the founder of TRON, has been renowned for being an agile digital; art collector, hence his interest in expanding the GameFi ecosystem.
Where to Buy TRON
If you intend to buy TRX during the current market bulls, you can create a cryptocurrency exchange account on a reliable social copy-trading platform such as eToro. eToro is a renowned exchange because it supports user-friendly features like low trading fees. The platform also supports a wide range of cryptocurrencies and trading pairs. It even has a demo trading account that a new trader can use to train.
Looking to buy or trade TRON (TRX) now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provide.