TRX Surges Despite Market Downtrend, Analysts Expect It To Move Up To $0.05200

As the weekend began, the entire cryptocurrency market was worried to see another mishap taking place. Given the recent history of events, most of the cryptocurrency industry is not very hopeful.

Therefore, they are not expecting a great surge but are mentally prepared to face any kind of setbacks. This is a clear indication of bearish sentiments among investors.

Due to the recent happenings, the majority of investors have lost hope in crypto. They are not hopeful about the cryptocurrency industry making it back any time soon.

Because of that, the investors are not putting in much effort to drive the trading prices of their preferred tokens or cryptocurrencies.

Tron (TRX) has Performed Well

As always, the general market sentiments are bearish and they were the same as the weekend began except for one cryptocurrency.

The TRX investors seem to be in high spirits when it comes to pushing the trading price of the asset. The weekend started out quite well for the community and the situation only got better over the weekend.

The Tron community saw TRX go up and it has happened for the second day in a row. This is quite the sight for the entire TRX community and something that the rest of the crypto industry would need.

TRX Price Surged 3%

In the past 24 hours, the TRX community saw the trading price of the asset surge by 3%. Although it is not a very strong rally in favor of TRX it is quite an achievement to maintain a rally for 24 hours.

Given the current market conditions, any cryptocurrency that is even able to maintain a 1% rally is a great achievement. This is because the overall sentiments have remained bearish.

The fear factor is very strong in the industry and combined with the uncertainty factor, even a minor rally gets sold pretty quickly.

In such an environment, it is a miracle that the price of TRX has recorded and sustained a 3% rally in the mentioned amount of time.

Before the bulls lined up to push TRX, it traded at a low of $0.05042. However, the strong buying sentiments have managed to push TRX to a high of $0.05197.

TRX has crossed a Resistance Level

Due to the recent price surge, TRX has even managed to overcome a resistance level. The resistance level for TRX was at $0.05190 and it proved to be a challenge for the bulls.

However, as the rally had formed, the bulls were able to muster up the strength and push through the $0.05190 barrier.

At the time of writing, the RSI for TRX is at 36.31, and it is now moving in an upward direction. As the sentiments of the investors remain strong, the price of TRX may surge to $0.05200.