Tron’s Price Analysis

• 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.

Throughout December, Tron (TRX) has struggled to maintain an uptrend after the November rally that followed the U.S. election.

Thus, over the past three weeks, TRX has dropped from a high of $0.45 to a low of $0.22.

The recent market conditions have left analysts discussing Tron’s future trajectory. CryptoQuant analyst Burak Kesmeci shared optimism about a potential trend reversal, citing Tron’s local bottom.

Tron: Potential Local Bottom?

In his analysis, Kesmeci posited that Tron’s price heatmap might be indicating a local bottom. According to him, Tron’s price heatmap has played a significant supportive role during bull markets.

Currently, the market is experiencing a strong correction, and this level would act as support or potentially mark a local bottom. When a local bottom appears, it suggests the end of a downtrend and a potential start of an uptrend.

The altcoin price heatmap shows various narratives. Firstly, the green trend representing one year MA + 2 Sigma is at 0.23, the purple trend at 0.40, and the blue trend at 0.49.

These levels tend to increase with a surge in interest and demand during a bull rally. During this market cycle, the blue and purple trend levels act as resistance zones.

The analyst observed that if Tron’s prices fall below the green trend, it could signal significant weakness for a bull cycle. However, based on current data, if Tron holds this level, it could lead to another upward momentum.

As demand increases, the price may aim for the resistance zones around 0.49 and 0.40. A break above the 0.40 trend level would provide strong market confidence, resulting in upward pressure.

Despite TRX’s failure to maintain an uptrend, there is rising demand for the Tron blockchain. In fact, USDT supply on the Tron blockchain has surpassed $61 billion, signaling increased demand and adoption.

This supply has seen consistent growth, rising from $32 billion in 2022 to $61.76 billion in 2024, marking a 28.7% growth from $48 billion throughout the year. This growth is significant for Tron and its native token, TRX. Tron’s lead over other blockchains shows its potential to attract more users in the future. Increased user adoption will positively impact its price charts.

What’s Next for TRX?

If the demand for the altcoin holds, analysts suggest that it could see further gains. Coupled with the rising usage of the Tron blockchain, TRX has significant potential for the future.

If the trend reversal is imminent, as indicated by the price heatmap, TRX could attempt a move to $0.275 in the short term, with a potential break above to push the altcoin to $0.3. However, if the current trend persists, TRX might drop to $0.22.