TRON price exceeds YTD high after a 17% surge

Written by: Ali Raza
August 17, 2020
  • TRX price has surged by 17% in the last 24 hours, making this its strongest surge this year.
  • The coin has made a new YTD high, currently sitting at $0.029.
  • While still quite far away from its ATH, TRON price performance attracted quite a bit of attention.

TRON price is currently at its highest point in 2020, after recently exceeding its previous YTD high. Last time, the price managed to reach a similar peak after battling a resistance level that eventually managed to push it back. This time, however, TRX appears to have breached the resistance, and is ready to surge higher.

TRON in 2020

TRON started the year relatively low, with the price of $0.0120. However, it quickly started growing up, throughout January and February, it conquered one resistance after another.

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Some levels that troubled the coin briefly included those at $0.0175 and $0.0190. But, as mentioned, these two were quickly breached, and TRX kept pushing up. TRX started seeing more serious issues once it approached $0.024, a level it eventually managed to breach as the entire market saw a strong bull run in mid-February of this year.

However, this was very brief, and TRX quickly found itself spiraling down, as its numerous supports attempted to soften the fall.

These attempts only worked after TRX hit $0.0165. Unfortunately, the mid-March price crash hit soon after that, and TRON price dropped below that of a cent.

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TRX recovery and a new YTD peak

Immediately after the drop, which left TRON at $0.0095, the coin started seeing recovery. It grew slowly, and passing the $0.01 level ended up being quite a struggle, but it succeeded, nonetheless.

For the next five months, TRX kept pushing up, once again having to struggle with each level that it breached so easily before. Eventually, it reached a high of $0.020215 around August 12th, only five days ago.

This was when the coin saw its first real break since the crash, and its price suddenly spiked up. Before long, the coin found itself back at $0.024, but this time, it managed to breach it with greater strength and momentum. After being held by this level for a few hours, the price eventually kept spiking up.

At the time of writing, TRX is progressing further up, with a price surge of 17% in the last 24 hours. While some are buying TRON, seeing what an excellent opportunity it has become, others are speculating when or where the surge might stop.

Conclusion

TRX price is spiking quite strongly right now, after months of slow progress in an attempt to recover what it lost in March.