Posted: November 29, 2024

• TRIAS surged 35.51% in 24 hours, trading near $3.71, with $3.98 resistance being closely watched.
• Technical indicators like RSI and MACD show bullish momentum, signaling potential for further price gains.

Trias token [TRIAS] has experienced a sharp price increase of 35.51% in the last 24 hours, trading at $3.71 at the time of writing. The 24-hour trading volume stands at $2,837,335, indicating heightened activity and strong interest from traders. 

Over the past week, the token’s price has surged 41.80%, outperforming the broader crypto market, which has risen by 1.70%.

Source: TradingView

Despite its strong performance, TRIAS still lags behind other smart contract platform cryptos, which are collectively up by 294.30%. The token’s current market cap is $36,480,036, supported by a circulating supply of 10 million tokens.

Historical price data and trading ranges

TRIAS has shown considerable volatility over the past week, with its 7-day range oscillating between $2.42 and $3.77. 

Within the last 24 hours, the token traded between $2.70 and $3.83, reflecting increased buying pressure at higher levels. TRIAS remains far from its all-time high of $31.70, achieved on May 9, 2021, marking an 88.5% decline from its peak.

The recent surge has brought TRIAS closer to reclaiming higher levels, with traders eyeing $3.98 as the next resistance. 

Meanwhile, support levels are expected at $3.26, providing a potential cushion for price corrections if selling pressure intensifies.

Technical analysis: Indicators suggest bullish momentum

Technical indicators suggest that TRIAS could see further gains if current momentum sustains. The Relative Strength Index (RSI) is at 58.83, indicating strengthening bullish momentum without entering overbought territory. 

A move above the 60 level could confirm a continuation of the uptrend.

The Moving Average Convergence Divergence (MACD) has shown a bullish crossover, with the MACD line rising above the signal line. The expanding positive histogram further supports the bullish case, indicating increased buying pressure. 

A sustained move above the $3.98 resistance could signal a breakout, while failure to hold above $3.26 may lead to a pullback.

Developments and market outlook

On 18th July, TriasLab announced the launch of an upgrade swap for TRIAS tokens on the Binance Smart Chain (BSC). This development allows users to convert their tokens to the new contract, a move aimed at enhancing the token’s ecosystem.

While this update may not directly explain the recent price surge, it reflects ongoing efforts by the project to improve its infrastructure and attract user participation.