Tron, a network famous for its utility as a payment facilitator hit a new all-time high on December 3 2024 exchanging hands for 0.4407 USDT.
Before this development, Tron had maintained an all-time high of 0.3004 USDT for nearly seven years.
The blockchain network founded by Justin Sun has appreciated in recent weeks due to a series of activities linked to its founder.
Justin Sun bought 30 million USDT worth of WLFI tokens, a project backed by Donald Trump’s family. He was also made an advisor to the project.
In addition to this, Justin Sun splurged 6.2 million USDT on artwork which made the news rounds. These developments had a significant effect on Tron prices recently.
At the time of this report, Tron has retracted from the all-time high it hit on December 3 to exchange hands for 0.3091 USDT. Despite the retracement, Tron is still up by a whopping 47.3% in the last 7 days.
Since its all-time high of 0.300 USDT in January 2018, TRX had decreased following a descending resistance trendline.
This was short-lived as the crypto asset is currently at the 11th position at the moment.
On the Technical side of things, Indicators revealed overbought conditions.
Using the above analysis and the alternative wave count method Tron is predicted to have a price range between $0.32 and $0.46 by the end of 2025.