Tron (TRX) Price Breaks Record After 6 Years — Future Moves Analyzed

Key Takeaways

• The TRON (TRX) price reached a new all-time high on Dec. 4.
• TRON broke out from a symmetrical triangle that existed for 2,422 days.
• How long will the TRX increase continue, and where will it lead?

After a nearly 200% increase since the start of November, the TRX price reached a new all-time high of $0.449 on Dec. 3. TRON is now in price discovery with no overhead resistance.

With that in mind, let’s analyze the price action and see where the TRX price is headed next.

TRX All-Time High

The TRX price had decreased under a descending resistance trend line since its all-time high of $0.300 in January 2018. The trend line rejected the price thrice, once in 2021 and twice in 2024 (black icons). The price finally broke out in August 2024 and has increased since.

While the upward movement was initially gradual, it became parabolic this week, with TRX reaching a new all-time high price of $0.449 today, on Dec. 4.

The increase followed a 95% daily candlestick on Dec. 3, which took TRX back to the top 10 largest cryptocurrencies, something TRON founder Justin Sun  mentioned on X.

Interestingly, there was no TRON news leading up to the increase that could have fueled the rally.

Technical indicators show overbought conditions. The Relative Strength Index (RSI) reached an all-time high of 93 and is deep in overbought territory. The Moving Average Convergence/Divergence (MACD) is also at an all-time high.

However, neither has generated any bearish divergence; the increase may continue.

What’s Next?

The most likely wave count suggests that the decline since the 2018 high was part of an A-B-C-D-E correction inside a symmetrical triangle. Since the triangle existed for over 2,400 days, the breakout from it caused a rapid upward movement. TRX has already reached the 1.61 external Fibonacci retracement of wave four, which often acts as resistance after the all-time high.

Since the upward movement has lasted 105 days, a fraction of the triangle’s length, TRX is likely to continue increasing. The 2.61 external Fibonacci retracement resistance is at $0.769.

The shorter-term wave count shows that TRX started a five-wave increase in April (white), where wave one was a leading diagonal. If the count is accurate, the price is currently in wave three, which has extended. The sub-wave count is in black.

According to the count, TRX is nearing the end of its short-term increase, targeting a local high between $0.481 – $0.573.

This would give wave three between 3.61 and 4.61 times the length of wave one. Then, the price could undergo a minor correction as part of wave four.

After the short-term decline, TRX could continue increasing toward the next long-term target at $0.769.

TRX Rally Not Over

The TRX price broke out from an over 2,400-day pattern and reached a new all-time high price on Dec. 3. The wave count suggests the upward movement will continue with the next target at $0.769.

The short-term count suggests a short-term decline could happen before the TRX price reaches its target.