- TRIAS surged 35.51% in 24 hours, trading near $3.71, with $3.98 resistance being closely watched.
- Technical indicators like RSI and MACD show bullish momentum, signaling potential for further price gains.
As a seasoned analyst with over two decades of experience in the ever-evolving world of cryptocurrencies, I find myself intrigued by TRIAS’ recent surge and bullish technical indicators. With such a steep increase in just 24 hours, it seems that this token might be on the verge of something big.
In the past 24 hours, the price of Trias token [TRIAS] has skyrocketed by an impressive 35.51%, currently sitting at $3.71. The substantial trading volume of $2,837,335 over the same period suggests intense trading activity and significant trader interest.
Over the last seven days, I’ve seen a significant surge in the value of my tokens – an impressive 41.80% increase. This outpaces the overall crypto market, which has climbed by only 1.70% during the same period.
Although TRIAS exhibits solid performance, it trails other cryptocurrencies based on smart contract platforms, collectively surging by an impressive 294.30%. The current market capitalization of this token stands at $36,480,036, with a circulating supply of approximately 10 million tokens in circulation.
Historical price data and trading ranges
Over the last seven days, I’ve noticed that my TRIAS investment has displayed significant fluctuations. The price has moved within a span of $1.35, reaching as low as $2.42 and as high as $3.77.
Over the past day, the value of this token fluctuated between $2.70 and $3.83, showing a rise in demand at higher prices. Currently, TRIAS is significantly lower than its record high of $31.70, which was reached on May 9, 2021. This represents a drop of about 88.5% from the peak value.
Lately, TRIAS has been moving towards regaining greater heights, as investors look forward to $3.98 as the potential next hurdle or resistance level.
In simpler terms, the price might find some stability around $3.26. This level could act as a safety net if the downward trend becomes more pronounced due to increased selling activity.
Technical analysis: Indicators suggest bullish momentum
Based on the analysis of technical indicators, it appears that TRIAS may continue to rise if its current upward trend persists. The Relative Strength Index (RSI) stands at 58.83, which suggests a growing bullish momentum without yet reaching the point of being overbought.
A move above the 60 level could confirm a continuation of the uptrend.
In simpler terms, the Moving Average Convergence Divergence (MACD) has displayed a ‘buy’ signal, as the MACD line is now higher than its signal line. This pattern is strengthened by an enlarging green bar in the histogram, suggesting that more investors are buying than selling, which supports a bullish outlook.
As a researcher observing market trends, I find that consistently surpassing the $3.98 resistance level might indicate a potential breakout. Conversely, if we’re unable to maintain positions above $3.26, it could signal a possible correction or pullback in the market.
Developments and market outlook
18th July saw TriasLab unveil a token upgrade swap for the TRIAS tokens within the Binance Smart Chain (BSC). With this advancement, users can now exchange their tokens to the updated contract, a step designed to strengthen and improve the token’s overall ecosystem.
Although this update might not immediately clarify the recent price rise, it demonstrates continuous endeavors from the project to enhance its system and boost user engagement.
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2024-11-29 05:11