This Chart Shows Why a TRON (TRX) Price 5x Spike to $1 Is ‘Highly Possible’

TRON price has been stuck in the same range since December, mostly hanging around the $0.20 mark. However, some experts think it could jump five times higher in the future.

Crypto Patel has shared a chart that shows why he thinks a TRON (TRX) price 5x spike to $1 is ‘highly possible’.

TRON price has been stuck in the same range for a long time now, and it could use some good news. Since December, TRX has mostly been hanging around the $0.20 mark. But some experts think it could jump five times higher from here.

Crypto Patel, a well-known analyst on X, previously known as Twitter, shared a chart that shows TRX’s weekly price movements. According to him, reaching $1 for TRON is “highly possible,” but getting in at the right price is crucial.

The chart shows where TRON has been since 2019 and some recurring patterns that indicate how TRX could reach $1 in the coming months.

The chart suggests that TRON price could still see some declines first before a bounce. There’s a green box on the chart between $0.10 and $0.14, showing where buyers typically step in.

This zone has acted as a strong support in the past, and as long as the price stays above $0.10, the long-term outlook remains positive.

There’s also a blue trendline trending upward that has supported the price over time. If you follow the chart, you’ll notice that whenever the price dropped to this trendline, it bounced back.

However, if the price drops below $0.10 and breaks the blue trendline, the bearish pressure could increase, and the next support level to watch would be around $0.06.

If things go as the chart suggests, TRON could break out strongly and reach $1. However, the analyst doesn’t mention the timeline for this move. It’s an analysis based on how the price pattern has behaved over the years.

What the Technical Signs Tell Us About TRON Price

The green area between $0.10 and $0.14 is important because buyers have jumped in at these prices in the past. This zone provides a good entry point for those planning to invest in TRON for the long term.

As the price approached this zone, it usually slowed down, indicating that sellers were stepping in to limit further declines.

The blue trendline has been a support for the price. Despite some downward pressure, TRX managed to stay above this zone, suggesting that buyers were still in control.

Crypto Patel expects another dip towards that point, or a little lower, before the next leg up. The path upward won's not be a straight line; expect some ups and downs along the way.

While things look promising for TRON, there are still risks to consider. For example, if Bitcoin crashes, we might see TRX follow suit or continue consolidating in a tight range.

Moreover, if the TRON price drops below $0.10, the positive outlook would weaken significantly. A decisive break below the green area could pave the way for further declines.