A correction is underway on the crypto market after a recent upswing. Bitcoin (BTC), a cryptocurrency, reached a record high on November 12, 2024 of $89 864 13. BTC’s upward momentum led to a rally across the market in recent days. LookOnChain points out that, despite the corrections, Tron (TRX’s) market capitalization has reached a record high of more than $16 billion.
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The project has a market capitalization of $1.25 billion, but TRX’s price is still down 23.7% compared to its January 2018 peak, when it was $0.2317. That is almost seven years old.
Tron seems to be able to weather the market correction quite well. Tron (TRX) is up 5% on the daily charts and 8.7% on the weekly charts. It’s also more than 10% higher in comparison to the last month. TRX is up 60.6% in price since November 2023.
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Tron to hit $0.30 next?
Changelly’s analysts predict that TRX is going to experience a price correction in the coming days. Platform predicts that the asset will trade at $0.14 in 2024. The price will drop by 17.65% if it reaches $0.14. Changelly believes TRX won’t reach the $0.30 mark until August 2026 at least.
Telegaon predicts that TRX could reach $0.30 in 2024. Platform predicts that TRX will trade for a maximum of $0.53 in this year. Telegaon, despite its bullish outlook, does not specify which month TRX might reach $0.53.
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TRX could rally in the following days due to the fact that the market cap of the project has reached new records. TRX rally could be short-lived if BTC suffers a severe correction.
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Source: watcher.guru
