This Tron [TRX] metric surges: Will bulls regain momentum?

TRX was finally on an upswing due since mid-January. Proposal 83 could be behind the spike in daily transactions. Tron [TRX] was finally showing bullish excitement at press time after struggling for directional footing since mid-January. Nonetheless, the reason why the bulls were back in control might just be as interesting as the rally itself. […]

since mid-January. Nonetheless, the reason why the bulls were back in control might just be as interesting as the rally itself.Recent findings revealed that Tron’s daily transaction fees registered a strong surge in the last 24 hours until the time of writing. Moreover, a quick look at DeFiLlama showed that fees peaked at $1.56 million. This was the largest amount of daily transaction fees that Tron had recorded in the last two years..

traded at $0.069 at press time after a 4.49% upside within the last 24 hours. This rally put it within the same range as its press time ATH, so sustained demand may push it to a new high.But what are the chances of a new local high? An extended upside is more plausible, especially as the 50-day MA was crossing above the 200-day MA at the time of writing. TRX’s ability to sustain the upside would require favorable sentiment and substantial volume.

TRX’s weighted sentient achieved a slight recovery from its four-week low during the same period. However, it was low relative to its monthly high and remained within the bearish range.

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