Tron (TRX) set for 70% rebound as market conditions signal another local top
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Digital tokens displayed weakness on Friday as the global cryptocurrency market cap plunged from $4.11 trillion to $4.04 trillion in the past 24 hours.
Despite the bearish sentiments, Tron’s market conditions show it might soar further before hitting a local high.
According to data from CryptoQuant, the TRX Futures Volume Bubble Map indicates more room for uptrends before it overheats.
Notably, this indicator has previously predicted when the Tron futures market approached the overheated region, marked by sizable red bubbles on the chart.
Currently, the altcoin sits in neutral territory.
That means there are no massive signs of an intensified buying frenzy or speculation.
For investors and traders, such conditions imply space for further uptrends before encountering correction pressure.
History shows Tron has printed similar patterns before prices hit a local high.
For example, it saw a sharp rally to $0.45 from $0.26 in December 2024.
That translated to a 73% surge before TRX’s market overheated and ultimately cooled off.
While history might not repeat itself, it often rhymes.
TRX trades at $0.3598, and CryptoQuant analysts forecast a potential rally, citing the Futures Bubble Map signal. They said:
At present, the metric is in the neutral zone, signaling that there’s still potential for upward movement in Tron without signs of overheating.
A 70% surge from current prices will see TRX surpassing $0.6116.
Why Tron’s current setup is bullish
The crypto market slumped in the past day after the United States’ higher-than-anticipated PPI.
Nevertheless, most tokens demonstrate resilience, holding key price levels.
TRX lost more than 2% of its value in the past day, but various factors suggest quick reversals.
First and foremost, the token’s latest rally has been steady, and not explosive.
That suggests a sustainable and healthier surge, which aligns with Q2’s impressive growth.
The neutral futures sentiments signal stability that often precedes long-term bounce-backs.
Furthermore, the broader market mood remained bullish despite the latest flash crash.
Popular analyst Michael van de Poppe acknowledged the prevailing volatility but predicts massive gains for alts once ETH and BTC stabilize.
He projects up to 150% rallies for altcoins
BTC trades at $119,090 and requires a closing above $121,500 to shift the market trajectory to bullish.
Ethereum trades above $4,600 with its bullish structure intact.
Standard Chartered expects ETH to hit $7,500 all-time high by December 2025.
TRX current outlook
Tron remained on the crypto community’s radar over the past day as its founder sued Bloomberg.
TRX trades at $0.3598 after a 2.19% dip in the previous day.
The 30% uptick in 24-hour trading volume indicates notable trader activity.
Meanwhile, the digital coin appears poised to lead market recovery.
Analyst Crypto Patel believes TRX has what it takes to hit $1 this cycle.
That would mean an over 177% uptick from current prices.
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