Tron’s Memecoins Poised for a Resurgence as TRX Targets Previous High

• TRX profitability shows 99.8% of addresses in profit, signaling strong investor trust.
• Breaking the $0.167 resistance could propel TRX to the next key level at $0.170.
• Rising volume of $372M signals robust trading activity supporting TRX’s bullish trend.

Tron (TRX) is showing strong signs of growth, driven by impressive address profitability and active community support. As highlighted by H.E. Justin Sun, founder of TRON, with TRX’s price on an upward trend, investors are watching for a potential surge in Tron-related memecoins.

This growth phase differs from previous rallies, which featured more widespread market attention and trends like the Tron meme season. Currently, Tron’s growth is more subdued, presenting a unique opportunity for those closely following market trends.

High Profitability Signals Strong Investor Confidence

One sign of TRX’s strength is the high profitability of its addresses. This is further corroborated by Satoshi Club noting that 99.8% of TRX addresses, totaling about 153.24 million, are currently profitable.

This profitability level shows a strong level of investor confidence in TRX, with the majority of holders seeing gains even amid broader market fluctuations. This high profitability often signals positive market sentiment, which could lead to further price increases.

Key Support and Resistance Levels for TRX

TRX’s technical chart shows important support and resistance levels. A key support level is around $0.1636, where the price recently found support. This level has previously cushioned declines, marking it as an important area for traders if the price experiences a pullback.

Read also: TRON’s 7000% Growth Fuels Justin Sun’s Bullish TRX Forecast

On the upside, the resistance stands at $0.167, which has acted as a ceiling. TRX has touched this level but has not yet broken through. This resistance, if broken, could pave the way for a bullish breakout, pushing TRX toward the next psychological level of $0.17, which may attract further buyer interest and signal stronger upward momentum.

Increased Volume Supports Bullish Trend

Additionally, the 24-hour trading volume for TRX is $372.20 million, marking a 4.67% rise. This increase in volume often supports a bullish trend as higher trading activity typically accompanies positive price action. In the last day, TRX has gained 1.85%, moving upward from its recent lows. This trend signals potential for more upward momentum, particularly if TRX successfully breaches its resistance level.

If TRX can overcome the $0.167 resistance, it may move towards $0.17 and potentially higher. However, if it fails to break through, it may experience a temporary pullback to the $0.1636 support level.