Tron Price Forecast: Why TRX Could Soon Rocket to $0.40

Highlights:

• Tron trading at a key support level
• A rally off this level could trigger a rally to $0.40
• Fed rate cut could trigger parabolic price move

Tron has experienced a minor correction in the last 24 hours. At the time of going to press, Tron was down by 5.70% to trade at $0.2743. Tron’s trading volumes have also dropped in the day, down by 26.46% in the day to stand at $1.65 billion. Tron’s intra-day price action is in tandem with the price movements across the cryptocurrency market.

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Today, the total cryptocurrency market has shrunk by 2.62% to stand at $3.66 trillion. Nonetheless, Tron, like the rest of the market appears to be headed for a major price rally in the short term. This is quite evident in Tron’s intra-day price chart.

Technical Analysis – Tron Price Trading at Critical Support Level

Tron has been on a correction for the last 48 hours. However, it has today established strong intra-day support at $0.2717. This is an indicator that buyers believe the correction has presented buying opportunities and are jumping in. If the current momentum continues, Tron could rally to the 24-hour minor resistance at $0.295.

A rally through this resistance could pave the way for a Tron rally to prices as high as $0.40 in the short term. On the flip side, if bears regain the momentum they had built earlier in the week, the key level to watch would be the $0.2717 support. A push through this support could see Tron drop to around $0.25 in the short term.

While such a correction is a possibility due to the unpredictable nature of markets, a bullish rally is more likely. That’s because there are multiple factors that support a price rally for Tron and the rest of the market.

A Possible 25 Basis Points Interest Cut in the US

Today, all eyes are on the US amidst anticipation that the Federal Reserve will cut interest rates by 25 basis points. The consensus is at over 90% that this rate will be implemented and the implications for the market are huge. With a second rate cut in 2024, more people will have access to easy money that can go into risky assets. 

Biggest FOMC of our lives today pic.twitter.com/P5G8w0qTOa

— HF (@H1_CT_) December 18, 2024

Cryptocurrencies being one of the hottest narratives at the moment positions could draw in a lot of this money. For altcoins that are already expressing lots of positive press such as Tron, a rate cut could see it rocketing. It’s the reason a rally to $0.40 or higher is a highly realistic target in the short term.

TRON network hit a record $240M in fees this November! 🔥 Huge growth signaling increased activity and adoption. #TRX #Blockchain #Crypto pic.twitter.com/v8wDWVlfPQ

— Danny Ki (@web3willbefree) December 17, 2024

Tron Getting Bigger in the Meme Coin Space

One of the factors that are making Tron such a big narrative this cycle is the fact that it has entered the meme coin space in a big way. Recently, Tron-based meme coins have emerged among the best performing.

With meme coins still one of the biggest narratives in crypto at the moment, a rate cut could see Tron meme coins rally and, by extension, Tron itself. Tron also continues to record growth in the stablecoins market, a factor that could add to its price momentum.

Social Media Hype on the Rise

Tron is also experiencing a wave of FOMO on social media. Since its recent exponential price move that pushed it into the top 10 largest cryptos by market cap, Tron has seen its social sentiment turn strongly positive. There are lots of positive predictions about Tron’s price that could help drive the hype. 

Big things are coming for 2025 🚀☀️#PumpItUp $TRX $BTT $TRNGUY $SUN pic.twitter.com/Ac8Pu31EOW

— Tron Guy Project (@TRONGUY_TRX) December 16, 2024

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