Tron (TRX) Is One of the ‘Strongest Altcoins Overall,’ Says Crypto Analyst – But There’s a Catch
A cryptocurrency analyst and dealer is popping bullish on Tron (TRX) amid the native token of the layer-1 blockchain going up by over 20% in the previous month.
In a new video, the analyst pseudonymously often called Sherpa tells his 11,300 YouTube subscribers that over the previous couple of years, the value of Tron has carried out comparatively higher in comparison with different altcoins.
“TRX has been one of the strongest coins the last entire stretch. If you look at it, the fact that TRX is actually near all-time highs [recorded] back in March of 2021 is actually incredible. The number of coins that are actually near all-time highs from 2021 is very very very few. TRX was the one that actually managed to get up to that point.”
TRX is buying and selling at $0.151 at time of writing.
Sherpa, nonetheless, says that Tron’s chart at the moment “looks pretty ugly” and he’s consequently bearish on the altcoin over the close to time period.
“It’s actually one of the strongest altcoins overall. That being said, I still think that it’s probably coming lower in the short term.”
On the potential entry factors for TRX, Sherpa says,
“I do believe that it’s going to pull back. Don’t know how far. If looking for entries, maybe you can do this former weekly close at $0.143, $0.142… but again that’s a little bit risky in terms of everything else. But would be patient with TRX, don’t necessarily think it’s a must-buy here.”
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