Tron (CRYPTO: TRX) is riding a wave of altcoin optimism, with traders forecasting additional upside based on historical bull-market patterns.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Tron (CRYPTO: TRX) | $0.3751 | $32.4 billion | +60% | +86.9% |
| Ethereum (CRYPTO: ETH) | $3,705.58 | $446.2 billion | +3.5% | +6.4% |
| XRP (CRYPTO: XRP) | $2.56 | $145.9 billion | -2.6% | +79.3% |
Trader Notes: Crypto trader Javon Marks highlighted Tron's bullish momentum, suggesting it could surge another 369% based on logarithmic price movement analysis, potentially reaching $1.11—a historic high for the asset.
$TRX (TRON) continues HEAVILY on what can be soon noted as a historical bullish move but prices, by Logarithmic Measured Movement, can be far from done!
— JAVON️MARKS (@JavonTM1) December 3, 2024
These prices could be headed right to the $1.11 areas in another >369% climb... pic.twitter.com/j87CcT6zIh
Meanwhile, trader Jacob Canfield noted Tron's origin as an Ethereum clone and pointed out its impressive 300% gain in 2024 compared to Ethereum's 63%.
MMCrypto observed that TRX could surpass its 7-year-old all-time high and continue chasing Bitcoin's trajectory over multiple cycles. He added that while his spot position remains intact, he's waiting for an ideal long entry.
Statistics: IntoTheBlock data shows large transaction volume increasing by 128.7% and daily active addresses up by 2.9%.
Transactions greater than $100,000 are up from 722 to 2,422 in a single day. Exchanges netflows surged by 196.9%.
CryptoQuant's analysis indicates Tron's 180-day Sharpe Ratio at cautionary levels historically associated with market tops.
Despite this, 100% of TRX holders are currently in profit, and the altcoin has climbed into the top ten cryptocurrencies, overtaking Avalanche.
Crypto trader Pentoshi congratulated Justin Sun, Tron's founder, with a playful nod to his influence in the space.
$TRX now in the top 10. Normies absolutely out-performing CT making in days what CT makes in decades
— Pentoshi (@Pentosh1) December 3, 2024
You absolutely love to see it. Congratulations to Justin, a true pioneer and hero who has always been there when the space needed him. He is the light in our darkest times ... pic.twitter.com/TcBm4lIBTs
- Costliest Snack Ever? Crypto Investor And Tron Founder Justin Sun Eats $6.2M Duct-Taped Banana: 'The Real Value Is The Concept Itself'
Image: Shutterstock
