Tron (TRX) defies BTC and ETH and is poised for an upside rally as its on-chain metrics hint at a bullish market sentiment among traders.
At press time, TRX was currently trading near the $0.161 level after a price surge of over 2.56% in the past 24 hours.
During the same period, its trading volume jumped by 25%, which shows how investors and traders are participating in the asset following the recent breakout.AMBCrypto’s technical analysis suggests that TRX is bullish and may rally significantly in the coming days. Following its successful breakouts from the strong resistance level of $0.157, there is a high possibility that TRX’s price could easily break its all-time high and set a new record.Technical indicators such as the Relative Strength Index and the 200 Exponential Moving Average further support this bullish outlook for the altcoin.In addition to this positive outlook from technical analysis, on-chain metrics indicated that bulls were favoring holding on to the altcoin, instead of selling off.
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