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Tron, the native asset of the Tron network, drew attention with a strong rally last weekend. Moreover, TRX, which has seen a 2.86% increase in price in the last 24 hours, has reached a market value of $7.78 billion, putting it among the top 10 cryptocurrencies.
The four-hour TRX/USD price chart clearly reflects the noticeable rise in the altcoin’s price. TRX/USD rose to $0.0857 with this upward momentum. Additionally, TRX’s Moving Average rose to $0.08533, confirming the positive momentum.
Volatility is showing a slight decrease, indicating that the ongoing upward trend could strengthen in the near future. Currently, TRX’s Bollinger Band has an upper limit of $0.0864 and a lower limit of $0.0845. The recent significant increase in price also triggered an uptick in the Relative Strength Index (RSI) chart, with RSI rising above the 50 level.
Both the daily and four-hour price charts support the bulls. The daily chart shows green candlesticks, indicating that the recent uptrend is gaining momentum. Increased buying activity confirms that the rise is supported. The analysis of the four-hour chart also shows a similar upward trend in the altcoin. TRX’s recent price increase gained momentum following Bitcoin‘s unexpected surge above $2,000 due to strong whale accumulation.
According to Viral AI Chatbot ChatGPT, TRX is Headed for $0.1
Furthermore, TRONSCAN reporting over 6.5 billion transactions on the Tron network indicates a significant increase in network activity. This high activity demonstrates increased interest in Tron supported by the GP-Protocol. In this context, the famous AI-based viral chatbot ChatGPT has a positive view of TRX’s future value. According to ChatGPT, TRX’s price could reach $0.1 by the end of the year.
As another development, Tron stands out by collaborating with APENFT and the Giacometti Foundation to host an art exhibition in Paris from October 7, 2023, to January 7, 2024. This collaboration aims to bridge the worlds of art and blockchain technology. Additionally, Tron introduced TronBox, a versatile smart contract toolbox that facilitates the development, testing, and implementation of Tron smart contracts, making blockchain technology more accessible to a wider user base.
