$TRX Price Is Bullish, but There's Catch - Utoday Analytics

Irma - Sep 21 - - Dev Community

Tron (TRX) became the 10th-largest cryptocurrency on Sept. 16, surpassing Cardano (ADA). TRX hit a high of $0.153, the first increase since October 2022, but has since corrected to just below $0.152. It's struggling to break through resistance at this level, which could signal further upward momentum if surpassed.

Tron founder Justin Sun is optimistic, predicting TRX will soon rank among the top three cryptocurrencies by market capitalization, citing Tron's rapid development and competitive edge.

TRX's price has been in decline since August, but Open Interest (OI) has recently increased to $214 million. If market sentiment improves, TRX could target $0.17, reversing the current downtrend. However, the RSI is at 69.68, signaling "Sell." The next few days will likely define TRX's direction for October.

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