- Tron price trades near $0.35 on Friday after an eight-week rally totaling over 35%.
- On-chain data show TRX transactions surpassing 11.1 billion, while Open Interest hits a record high.
- Technical outlook points to further gains, with bulls eyeing the $0.45 all-time high.
Tron (TRX) is riding strong bullish momentum, holding near $0.359 on Friday after an eight-week rally of more than 35% and reaching a new yearly high the previous day. On-chain metrics paint a supportive picture for further upside, with transactions surpassing 11.1 billion and open interest hitting record levels. Technical indicators suggest the rally could extend toward TRX’s all-time high of $0.45.
Tron’s Open Interest hit record highs
CoinGlass futures’ OI in Tron at exchanges rose to $610.47 million on Friday, the new all-time high, and has been constantly rising since July. Rising OI represents new or additional money entering the market and new buying, which could fuel the current TRX price rally.
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TRX open interest chart. Source: CoinGlass
CryptoQuant data shows that the Tron Transaction Count has surpassed 11.1 billion, highlighting a growing network. The historical comparison shows that the current daily run rate is approximately 7–9 million transactions per day, with peaks approaching 10 million; this is significantly higher than the levels seen in early 2024, suggesting a strong growth compared to the previous cycle.
TRON Transaction Count chart. Source: CryptoQuant
Tron Price Forecast: TRX hits new yearly high
Tron price reached a new yearly high of $0.37 on Thursday after rallying nearly 35% since mid-June. At the time of writing on Friday, it trades around $0.35.
If TRX continues its upward momentum, it could extend the rally toward its record high of $0.45, set on December 4, 2024.
The Relative Strength Index (RSI) on the daily chart reads 73, placing it in overbought territory, pointing upward, indicating strong bullish momentum. The MACD showed a bullish crossover on Monday, and with rising green histogram bars, further supports the bullish thesis.
TRX/USDT daily chart
If TRX faces a correction, it could extend the decline toward its next support at $0.34.
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