Tron (TRX) has gained 1.0% this week, reaching $0.1542, while underperforming compared to Bitcoin (BTC), which has surged 6.9% to $58,000. However, the broader trend paints a different picture. Since the beginning of August, BTC has fallen by 10.7%, whereas TRX has surged 19.8%, making it one of the strongest performers in the crypto market during this period.
TRX’s price movement is significant as it recently broke above the resistance of an ascending channel that has been in place since November 14, 2022. After retesting this resistance level at $0.1500 from the upside, TRX is now aiming for its next upside target of $0.1700. The technical setup suggests that TRX could maintain this upward momentum, with a solid foundation for further gains in the coming weeks.
