After trading steadily for weeks, Tron (TRX) has now crossed the $0.32 mark, sparking renewed interest from traders and analysts.
With its price at $0.3229 and a market cap exceeding $30.5 billion, TRX is showing signs of bullish consolidation. Over the past week, it has posted a respectable 3.32% gain, accompanied by a healthy 24-hour trading volume surpassing $1.1 billion.
The recent hourly chart shows a clear upward structure forming after a mid-month correction, with bulls regaining control and pushing past the $0.32 resistance zone. This trend suggests that a continued climb could be in play — especially if momentum carries through the early weeks of August.
Can TRX Push Higher in August?
Analysts are watching several key technical levels for TRX. A firm close above $0.325 could open the path toward a test of the $0.34 region — a level not seen in over a year. On the downside, support is forming around $0.31, which has repeatedly acted as a floor since mid-July. As long as volume continues to rise and selling pressure remains limited, Tron could be setting up for a steady August rally.
The ecosystem’s fundamentals also support potential growth. TRX remains one of the most actively used networks for stablecoin transfers, and its adoption in DeFi applications is increasing, particularly in Asia.
Momentum and Sentiment Improve
Although not the flashiest project, TRON’s consistency and large-scale utility continue to attract long-term holders. With other altcoins entering speculative phases, TRX’s relatively stable foundation could make it a standout if broader crypto markets recover in August.
If bullish momentum continues, TRX could retest the $0.34–$0.36 range before month’s end. However, a failure to break past resistance may lead to range-bound trading between $0.31 and $0.325.
Final Outlook:
The trend for TRX is cautiously optimistic. August could deliver steady growth if buying volume persists — and if key resistance levels give way, a larger breakout might not be far off.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/tron-trx-price-prediction-for-august/