While the larger cryptocurrency market is facing a slight correction, TRON (TRX) seems to be doing the opposite. Bitcoin (BTC) and other significant crypto assets are trading in the red zone today, but TRX is green.
The 11th largest crypto by market cap has rallied 12% in the last 24 hours, 25.6% in the weekly charts, 32% in the 14-day charts, and 21.5% over the previous month. In this price prediction article, let’s find out if TRX can hit a new all-time high in September 2024.
Why is the Asset Rallying?
TRX’s current rally could be due to the launch of the SunPump meme coin platform on the Tron network. The launch has led to a significant increase in the network’s activity, which may have raised the asset’s price.
Also Read: Tron Surges Another 9% as TRX Eyes a New $0.3 All-Time High
TRX September 2024 Price Prediction
CoinCodex Price Prediction
According to CoinCodex’s price prediction, TRON (TRX) will surge to $0.1966 on Aug. 24, 2024, before facing a steep correction in September. Hitting $0.1966 from current levels would translate to a rally of nearly 20%.
The platform predicts TRX to fall to $0.1349 by Sept. 20, 2024, a 17.79% drop from current price levels.
Changelly’s Prediction
Changelly also anticipates TRON (TRX) rising over the next few days, hitting $0.181856 on Aug. 23, 2024. The platform predicts TRX will hit a maximum price of $0.151 in September 2024, a near-8% drop from current prices.
Also Read: Tron Surges into Top 10 Cryptos
Market Sentiment & Future Outlook
Given the general bearishness in the crypto market, we may witness a sharp correction in TRX’s price over the next few weeks. Investors are still uncertain when the Federal Reserve will cut interest rates in the US, which may hinder inflows into risky assets, such as cryptocurrencies.