After the surge of TRON (TRX) in August, analysts are expecting a performance of a similar range from the coin in September. At press time, the coin is trading at $0.3402. The coin has a volume of $715.29 million and a market cap of $32.22 billion. The cryptocurrency almost got a gain of 4.92% in the month of August.
Also Read: Tron (TRX) on the Rise: Is TRX Set to Surge by Month-End?
Although all the altcoins had a bad time in keeping a stable ground in August, TRX performed steadily. September usually has a challenging side when it comes to the cryptocurrency industry. Since the coin showed much resilience in August, analysts are optimistic about September.
According to the data provided by CoinCodex, September has an average price of $ 0.354741 and a maximum price of $ 0.368775. The Potential ROI is set at 8.31%, which suggests a positive outlook.
According to the data provided by the Trading View chart, the coin is experiencing resistance (blue) at $0.3449, and the support level (yellow) is at $0.3393.The chart shows that TRX is now going through a bullish momentum since the Moving Average indicator is above the candlesticks. The Relative Strength Index shows that the altcoin is getting oversold, which means that there is a potential for buying, as the price could rebound.
The community sentiment data provided by CoinMarketCap shows that 82% of the traders believe in a bullish trend. The rest 18% doubt a bearish momentum.
September presents both hopes and risks for the coin, considering the whole market situation. Whether it smashes or dips depends on the macroeconomic events, traders’ interest, and the market trends
Also Read: TRON(TRX) Boom: $50K Turned Into Nearly $66K Through 2025 Rally
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