Tron’s native TRX token has been in an uptrend since the start of the year.
TRX is the native cryptocurrency of Tron DAO, a blockchain network where users can trade cryptocurrencies, use decentralized apps, and earn interest on their assets.
For the past year Tron’s TRX token has been on the rise. Since the end of 2022, TRX has climbed 46% from $0.050 to $0.09 and continues upwards.
Many traders believe the token has more room to grow as it is currently in an uptrend. Nobody knows when the uptrend will end, but traders are willing to take advantage of the situation by investing in TRX.
Speculators believe that if TRX fails to break resistance at $0.10, the token will have a stern correction possibly back down to $0.07 as a level of support before retesting $0.10 again.
If TRX successfully breaks through $0.10 the next leg up may be $0.13. The token’s all time high of $0.23 was reached in January 2018.
With the crypto market currently coming towards the end of a brutal bear market, the future looks bright for TRX investors.