• TRON is gaining bullish momentum with bulls taking charge after the digital asset climbed up 1 percent.
• TRON has shown to be a low-risk investment in the short term with great upswing potential in the long term.

Tron (TRX) is riding the bullish wave sweeping the wider crypto market. In the last 24 hours, the digital asset has gained around 1 percent to trade at $0.07454. Furthermore, TRX is up by nearly 5 percent in the last 7 days. With a market capitalization of $6.7 billion, the token is the 10th largest cryptocurrency.

After weeks of sideways trading, bulls look certain to take charge of the market and retest local resistances. Technical analysis points to $0.06500 as the current support while $0.08600 is the resistance.

A potential breakout comes just days after the community celebrated its five-year anniversary since it launched on the mainnet. Originally, Tron was deployed on Ethereum before launching on the mainnet in 2017. In late 2021, the project further transitioned into a decentralized autonomous organization (DAO).

Since its launch, the Tron Foundation and the thousands of developers working within the ecosystem have committed to reshaping industries and empowering individuals. A direct competitor of Ethereum, Tron offers greater scalability, low transaction costs, and greater availability compared to Ethereum.

Related: Unlocking the Power of Tron: How This Innovative Blockchain Platform Can Transform Your Business

Its effort in integrations, partnerships, and network development has further ensured a growing social demand among its peers. Recently, Tron founder Justin Sun announced a significant milestone of over $5 trillion in total transfer value. This remarkable growth is a demonstration of the project’s utility and potential profitability.

Tron (TRX) Potential Growth

According to a couple of predictions, the long-term outlook of TRX is bullish. Cryptopolitan predicts that the token will end the year trading above $0.088. By 2030, their analysis indicates that the token will be trading above $1.48. The 2030 prediction is far higher than the current all-time high of $0.3004 set 5 years ago. In part, the current slump is owed to the bearish phase experienced in the wider market.

The project is fully committed to attracting new users and dApps to grow its ecosystem. Sun recently discussed TRON’s innovative mission and vision, focusing on the vital role of trust. He emphasized that Tron was not only focused on technological advancement but also on promoting community values. He noted;

The greatest advantage TRON possesses is not just in its technology but in the trust of all our users and community. Trust is our cornerstone. Amid a complex environment, a group with a clear vision, unwavering commitment, and public trust is truly exceptional. This is what TRON aspires to be.

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