Justin Sun’s Tron (TRX) made a comeback last year. The altcoin was on the sidelines with the advent of new cryptocurrencies entering the market over the last few years. But TRX managed to get back into the coveted top ten in 2024. Even though the asset started 2025 on a good note, TRX witnessed a slight setback. But the Tron community remains optimistic about a potential uptrend in the coming days.
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Revisiting TRX’s Setback
Source: Coins.ph
Over the 24 hours, Tron’s TRX recorded a 1.34% drop in its price. At press time, the altcoin was trading at $0.2475. Just earlier this week, it was $0.2736 but it was clearly sinking at the moment. Throughout the past seven days, TRX has dropped by more than 4%.
Source: CoinMarketCap
Along with its price, the market cap and daily volume of the asset also dropped. TRX currently stands as the 10th largest cryptocurrency, with a market cap of $21.32 billion. The 24-hour volume of the altcoin is $1.23 billion.
About a month ago, the altcoin hit an all-time high of $0.4407. Tron’s cryptocurrency is now trading 43% below this price level. However, an analyst revealed that TRX could move beyond this peak and record a new high sooner rather than later.
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Analyst Sets Target
Source: X
According to a prominent analyst who goes by CW on X, Tron’s TRX is on its way to hitting a new peak. The expert revealed that the asset is currently forming an ascending channel. This formation is usually considered bullish. Further elaborating on the same, CW added,
“In the last rally in December, it was resisted by the middle line of the channel. The high point of this cycle is likely to be the upper line of the channel. Depending on the time of arrival, the target price will vary, but it is likely to be around $1.65~$2.2.”
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As seen above, the analyst set a target of $1.65 to $2.2 for TRX. This potential spike will likely bring increased benefits to the asset’s holders.
