- Tron’s price heatmap signaled a potential local bottom.
- USDT supply on Tron blockchain has reached $61.67 billion, hiking by 28.7% in 2024.
As a seasoned crypto investor with years of experience navigating the volatile world of digital assets, I find myself intrigued by the recent analysis surrounding Tron [TRX]. The potential local bottom suggested by CryptoQuant analyst Burak Kesmeci is certainly a promising sign for those who believe in TRX’s long-term potential.
During the month of December, Tron (TRX) has found it challenging to maintain an upward trend following the surge triggered by the U.S. elections in November.
Thus, over the past three weeks, TRX has dropped from a high of $0.45 to a low of $0.22.
Due to the current state of the market, there’s been much discussion among analysts about where Tron might be heading next. One analyst, Burak Kesmeci from CryptoQuant, has expressed positivity, indicating a possible change in trend direction, based on what he sees as Tron reaching its local bottom.
Tron: Potential local bottom?
According to Kesmeci’s interpretation, the price chart for Tron could possibly suggest a potential low point in its current location.
According to him, Tron’s price heatmap has played a major supportive role during bull markets.
Given the current market’s significant downturn, this specific point could serve as a base for future growth or indicate a temporary low point.
When a local bottom appears, it suggests the end of a downtrend a potential start of an uptrend.
In this heatmap, you can observe several stories unfolding. The green line, which represents a one-year moving average plus two standard deviations, stands at 0.23. Compared to that, the purple line is at 0.40, and the blue line is slightly higher at 0.49.
As enthusiasm and need grow during a bull market’s upswing, these stages typically escalate successively. In the course of this market trend, the blue and purple progression points serve as areas where opposition is likely to build up.
Consequently, the analyst noted that a decline in Tron’s price under the green trend line might suggest a potential sign of strong bearish tendencies during an uptrend.
Given the present data, maintaining this level for Tron might trigger a new phase of increasing trends.
As the demand grows, the price could potentially rise towards the resistance areas at approximately 0.49 and 0.40. Once the price surpasses the 0.40 trend lines, it would significantly boost investor confidence, leading to a stronger push for prices to continue rising.
As a researcher, I’ve noticed a significant surge in interest for the Tron blockchain, even though the price trend of TRX has failed to maintain its upward trajectory.
Indeed, the amount of USDT circulating on the Tron network now exceeds $61 billion, indicating a growing interest and usage in this digital token.
Over the given period (2022-2024), this figure has consistently climbed, starting at $32 billion in 2022 and reaching $61.76 billion by 2024. This significant increase represents a growth of approximately 28.7% year over year from an initial value of $48 billion.
The substantial increase in Tron’s growth is noteworthy, as well as its primary coin TRX. This substantial advantage that Tron currently holds over other blockchain networks hints at its potential ability to draw in more users down the line, highlighting its promising future potential.
As user interest grows and the altcoin gains wider adoption, this trend will likely lead to an upward movement on its price graphs.
What’s next for TRX?
According to analysts’ predictions, if the interest in the altcoin continues, it might bring further increases. With the increasing adoption of the Tron blockchain, TRX seems promising for future growth.
Read Tron’s [TRX] Price Prediction 2025–2026
If the change in direction for TRX seems likely, indicated by the price map, there’s a possibility that it might aim for approximately $0.275 in the near future. If it surpasses this point, it could potentially drive the altcoin up to $0.3.
However, if the current trend holds, TRX will drop to $0.22.
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2024-12-26 21:12