TRX is Snatching New Highs
Tron (TRX) has experienced a 6.3% increase this week, reaching $0.1320. This performance is notable, especially when compared to Bitcoin (BTC), which gained 8.3% to $52,000. Interestingly, TRX is approaching the highs seen in May 2021, whereas BTC is facing challenges in surpassing the highs of December 2021. Both assets still have approximately 35% to reach their respective all-time highs.
Tron's positive momentum is attributed to internal factors, particularly after the incineration of 9.9 million tokens. Additionally, Tron Founder Justin Sun has unveiled an ambitious Bitcoin Layer 2 roadmap, aiming to enhance the BTC network's scalability, speed, and security while facilitating the injection of funds.
Breaking through the resistance at $0.1300 this week, Tron's next target is set at $0.1400. However, reaching this level might pose a challenge, and the token may encounter resistance as it attempts to move further upward.
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