CryptoQuant analyst: TRX price could explode soon

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As a seasoned analyst with over two decades of experience in the financial markets, I must say that Joao Wedson’s analysis on TRON (TRX) is intriguing and potentially promising. Having closely observed market trends across various asset classes, I can attest to the fact that technical analysis often provides valuable insights into a coin’s potential trajectory.

Joao’s focus on the Price Drawdown from ATH and trendline support indicators is commendable. The consistent adherence of TRX to this key trendline since 2019, coupled with its resilience during periods of accumulation and recovery, suggests a well-structured technical behavior that appeals to both traders and long-term investors.

Moreover, the descending trendline for the Price Drawdown from ATH over the past two years indicates that bulls have been gradually reducing bearish pain, with drawdowns becoming less severe. This is a positive sign, suggesting that TRX might be ready to break free from its current levels and embark on a new rally.

However, as always in the volatile world of cryptocurrencies, it’s essential to remember that past performance is not always indicative of future results. As Hyman M. Minsky once said, “Stability is destabilizing.” So, while TRX seems poised for new momentum, we must remain vigilant and prepared for any unexpected market fluctuations.

Lastly, I can’t help but add a bit of humor to lighten the mood: If TRON (TRX) does indeed embark on a new rally, remember to keep your seatbelts fastened – it might just be the rollercoaster ride of 2025!

As a seasoned cryptocurrency investor with over a decade of experience in the digital asset market, I have learned to keep a keen eye on analysts’ insights and predictions. Recently, I find myself intrigued by CryptoQuant analyst Joao Wedson’s analysis of the current crypto landscape as we approach year-end. According to his assessment, there is a minor uptick in the cryptocurrency market, and one altcoin showing particularly bullish potential is TRON.

Having followed the development of TRON since its inception, I am aware of its unique positioning within the blockchain ecosystem, focusing on decentralized applications (dApps) and content sharing platforms. The project’s ambitious goals, coupled with its strong team and impressive partnerships, have always caught my attention, and I believe that this altcoin could be poised for significant growth in the near future.

While it is essential to approach any investment decision with caution, considering the inherent risks and volatility of the cryptocurrency market, I find Wedson’s analysis compelling and am actively monitoring TRON’s performance as we move towards the end of the year.

TRON (TRX) was trading approximately at $0.2565 on December 31st, marking an increase of around 2.7%. This growth aligned with the general trend among the top 10 coins, as Bitcoin, Ethereum, and XRP also saw gains. In fact, TRX has experienced a substantial rise over the past few months, with its price increasing by approximately 140% in the last year. Analyst Wedson attributes this upward movement to several key indicators suggesting that TRON is on the verge of renewed momentum.

In my years of following and analyzing the cryptocurrency market, I have come to appreciate the insights shared by fellow analysts like Wedson. In a recent TRX price analysis piece published on Dec. 31, he presented an intriguing perspective that resonated with me, given my own experiences in the crypto world. Additionally, he included a chart of X below, which I found particularly insightful. His analysis has prompted me to reevaluate my own investment strategies and approach to TRX, and I believe his expertise could be valuable for other investors as well.

TRX has been holding strong at a significant trendline since 2019, demonstrating durability and milder drops rather than steep declines. At present, it’s a key area offering entry opportunities for investors. Could this be the beginning of a fresh upward trend? 🚀

— Joao Wedson (@joao_wedson) December 31, 2024

Based on the analyst’s explanation, the current state of this technical chart is primarily due to the decrease in price from the All-Time High (ATH), with assistance from technical support signals. The term “Price Drawdown” refers to comparing the coin’s drop against its peak value at any given point in time.

The pattern indicates that TRX’s price has consistently stayed above a significant line that originates from 2019, with the trendline serving as both a strong foundation during periods of accumulation and a boost during recovery phases. In other words, this line has proven to be resilient support in times when investors were buying up TRX, and it has also acted as a catalyst for price increases after downturns.

Wedson pointed out that the reliability of TRX suggests it follows a systematic pattern in its technical performance, which makes it appealing to both short-term traders and long-term investors.

Over the last two years, an analysis of TRX’s price reveals a downward trajectory in the Drawdown from All-Time High (ATH) trendline. This trendline indicates that the bulls have progressively reduced the extent of bearish pressure, as drawdowns are now typically “less intense.

At present prices, TRX is close to the suggested line where it might find support. This could potentially provide buyers with a new opportunity for strategic entry. The cryptocurrency peaked at $0.4407 on December 4, indicating a decrease of about 40%.

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2024-12-31 19:49