TRON (TRX) on track to mark ATH – Crypto Analysis

The peaks are approaching – After a long correction period that pushed the price of Bitcoin below $60,000, the price is back above $70,000. A positive situation for the cryptocurrency market, which shook below $60,000. However, volumes on the spot stock market continue to decline. It shows a certain lack of interest in the sector, which can also be seen in the performance of altcoins. Binance Coin (BNB) certainly managed to hit a new all-time high by crossing $700, but other majors are lagging behind. Even Ethereum (ETH) is struggling to get back above $4,000. In fact, it shows a shy increase of 2% in one week. Let’s analyze various charts that provide valuable information about small cap assets!

Altcoin cap remains below $1.2 trillion resistance

While the course Bitcoin returns to recent highs of the yearaltcoin capitalization is back to level resistance at $1.2 trillion. PUSH the primary momentum is bullish a new wave of growth is possible on the price. To do this, it will be necessary to get rid of it resistance at $1.2 trillion :

Altcoin cap needs to break out of $1.2 trillion resistance.
Altcoin Capitalization Chart (3D)

AND breaking resistance could send a course towards another resistance at the $1.4 trillion level. To continue on bullish momentum in progress, a fence will be required outside last high $1.271 billion. Let us recall that shorts charging area (0.618-0.786 Fibonacci retracement) is a area leading to the collection of profits. And that one bullish structure in this area it would appear that operators may want to distribute higher. If however resistance to 1,200 billion dollars resists, the price could fall towards institutional bias (EMA 9/EMA 18) bullish and $1.1 trillion in support.

Being RSI brittle from March it should regain strength with clear upward dips and peaks. This would allow buyers fully benefit from the dynamics.

Will Bitcoin’s Dominance Find Resistance at 58%?

There will be altcoins use capital rotation ? Will Altcoins Explode Higher Like 2021? These are legitimate questions that investors are currently asking BTC is trying to settle above $70,000. Because for now, that really is it BTC raising capital.

Actually, Bitcoin dominance is on the rise from the end of 2022. After experience sa a period of hesitation around 53% dominancecourse verified bullish structures beyond this level:

Bitcoin's dominance remains bullish as capital continues to move towards the cryptocurrency king. Bitcoin's dominance remains bullish as capital continues to move towards the cryptocurrency king.
Bitcoin Dominance Chart (3D)

As long as the dominance is oriented upwards, it is altcoins will have to settle for crumbs. Since then, the dominance rate could rise again towards resistance to 58%. If this resistance does not allow the installation of a market top, shorts charging areait could enable a trend change. At the moment, there is no indication that capital is flowing into altcoins. Therefore, only the strongest can express themselves.

The RSI draws ascending lows and highs on the other side bearish trend line. In order to continue on this path, it will be necessary to develop further 65.

Sellers keep Ethereum price below $4,000

ProgressEthereum reacted bullishly as SEC Validated Ethereum Spot ETF. Since then the course stuck around $4,000 resistance. The primary dynamic of this asset is bullishthe probabilities are oriented towards further increase and to a return to the level of the last historical peaks :

Ethereum price stabilizes below the $4000 resistance. Ethereum price stabilizes below the $4,000 resistance.
Ethereum price against the dollar (3D)

To find final high of 2021will have to get rid of resistance at $4,000. Also, the price must be confirmed slightly higher than last high at $4,093. Such a scenario would allow the course to record a bullish structure in an area where vendors have the opportunity to regain control (the trunks transshipment area). Note that in case rejection of $4000could the price return to the level 9 and 18 moving averages trending up placed on the level support of $3,500.

The RSI momentum indicator will need to find clear bullish lows and highs buyers can clearly benefit from the momentum.

Hesitation on the ETH/BTC pair

Studying the ETH/BTC pair allows us to do just thatknow the power of Ethereum compared to the king of cryptocurrencies. In fact, since the end of 2022, the price shows a clear bearish momentumand bearish trend line still not giving up:

The price of the ETH/BTC pair has clearly not crossed the bearish trend line. The price of the ETH/BTC pair has clearly not crossed the bearish trend line.
Ethereum vs Bitcoin Price (3D)

Buyers are currently trying to produce give way to sellers at the level of the bearish trend line. If the price moves beyond the trendline, the breakout is not yet clear enough for us to think so Ethereum could once again outperform BTC.

For its part, it has RSI confirmed the bullish divergence with RSI closing 61.5. This means a running out of breath on the sellers’ sideand buyers could benefit from it. The momentum indicator should continue on this path.

Towards an ATH for TRON (TRX)?

As explained in the Bitcoin Dominance section, at the moment only the strongest altcoins can express themselves. And that is the case with TRON (TRX), which displays a strong bullish momentum since the break bearish trend line :

TRON (TRX) could mark a new ATH. TRON (TRX) could mark a new ATH.
TRON (TRX) price against the dollar (3D)

After scoring a high at the resistance level at $0.14TRX has returned to support at $0.115. At the moment the course is inadvantage of the bulls. If the support holds, TRX could return to the market again. resistance at $0.14. Then it will be necessary to separate the resistance to achieve reach a new all-time high. On the other hand, if the rate drop below support at $0.115return to further support at $0.103 is possible. RSI must find a clear bullish momentum (green arrow) so buyers can fully benefit from the momentum.

Altcoins still have some work to do before they return to altseason like 2021. Dominance is indeed on an upward trend. As long as that is the case, capital is flowing massively towards Bitcoin. The altcoin cap will need to break through the $1,200 billion resistance to continue its rally that began in late 2023. Ethereum will need to shed $4,000 to return to its recent highs of 2021. Also, the ETH/BTC pair at the moment it is hovering at the level of the bearish trend line. We will need a clearer break in the trend line to think that ETH is ready to permanently outperform BTC.

At the same time, TRON (TRX) is comfortably installed in an uptrend since breaking the bearish trend line. If the support at $0.115 holds, the price could return to the resistance at $0.14. And if buyers push, TRX could follow Binance Coin (BNB), which just hit a new all-time high.

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