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While the cryptocurrency market has been quite stagnant in recent days, with Bitcoin hovering around $96,000, a number of altcoins are still taking full advantage of this growth trend. Among the coins benefiting from this development is Tron (TRX).
TinTucBitcoin analyzed two other cryptocurrency tokens along with Tron, which set a new all-time high (ATH) today.
Tron (TRX)
The price of Tron is at $0.228, recording a 10% increase in the past 24 hours. The altcoin hit a new all-time high (ATH) of $0.235 in intraday trading. This recent price increase shows growing investor confidence and reinforces the bullish sentiment surrounding TRX in the cryptocurrency market.
This is the first time TRX has reached an ATH in nearly seven years, with the last peak occurring in January 2018. Tron’s current momentum is strong, and if this trend can be maintained, the altcoin could continue to reach new heights. Sustained buying pressure could push TRX to even higher levels.
Tron has established a solid support level at $0.204, which could serve as a floor for any potential correction. If profit-taking triggers a price correction, a bounce at this support level could keep the uptrend from being interrupted. However, if TRX falls below $0.204, the bullish outlook will be invalidated, signaling a potential change in market sentiment.
Ondo (ONDO)
ONDO’s price has increased 40% in the past 24 hours, reaching a new all-time high (ATH) of $1,794. This is the first ATH in six months, showing strong interest from the market. This price increase has put ONDO in the spotlight, attracting attention from both investors and traders.
A continued upward trend in ONDO’s price is possible if holders maintain their positions and do not sell their shares. If ONDO’s momentum continues, the next target could be $2,000. Market sentiment will play a key role in sustaining this rally, especially if investor confidence remains strong in the coming days.
ONDO’s critical support level lies at $1,485. If the price drops below this level, it could indicate a change in market conditions, leading to a decline towards $1,243. A drop below this support would invalidate the bullish outlook, potentially triggering further selling pressure and dampening investor optimism.
Kaia (KAIA)
Another cryptocurrency token, KAIA’s price has increased 75% in the past 24 hours, reaching a new all-time high (ATH) of $0.422. This significant jump has catapulted KAIA into the ranks of top performers in the cryptocurrency market.
The future of KAIA’s growth depends heavily on broader market trends. If the overall cryptocurrency market remains optimistic, KAIA could continue its upward trajectory. However, if bearish market conditions prevail, this altcoin could experience a correction, leading to a decline in recent gains.
KAIA’s critical support level is at $0.329. If the price falls below this support, the bullish outlook will be invalidated. Such a price drop could push KAIA below $0.300, signaling a potential shift in market sentiment and prompting further selling among investors.
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