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Tron (TRX) has broken through the lower boundary of its rising trend channel, a pattern it has followed for the medium to long term. This development indicates a potential slowdown in TRX’s upward momentum, possibly transitioning into a more horizontal price movement. However, this bearish signal contrasts with the recent short-term positive signal, where TRX […]
TRON has shown significant growth, with its daily transactions reaching 8.4 million. TRON reached its highest levels of activity during both the 2021 and 2023 market bull periods but has demonstrated continuous daily adoption growth. The consistent surge in on-chain network usage remains frequently ignored by analysts, yet suggests excellent potential for TRON’s upcoming technical […]
Tron (TRX) is now gaining a lot of attention from the cryptocurrency market because it is showing an exceptional increase in its value. Even though the general market has been undergoing a bearish trend, TRX has shown itself to be not only resilient but also highly performing, especially over the last week, where it managed […]
Tron price is up over 5% and gaining pace above $0.0725 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.0850. Tron is slowly moving higher above $0.0720 pivot level against the US dollar. The price is trading above $0.072 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair is likely to continue higher if it clears the $0.0750 resistance level. Tron Price Jumps 5% In the past few days, Tron’s price saw a decent increase above the $0.0675 level against the US Dollar, similar to Bitcoin and Ethereum. TRX climbed above the $0.070 resistance and the 100 simple moving average (4 hours). There was a clear move above the 23.6% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low. Besides, there was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair. TRON price is now trading above $0.072 and the 100 simple moving average (4 hours). On the upside, an initial resistance is near the $0.0750 zone. It is close to the 50% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low. Source: TRXUSD on TradingView.com A close above the $0.0750 resistance might send TRX further higher. The next major resistance is near the $0.0800 level, above which the bulls are likely to aim a larger increase toward the key $0.0850 zone in the coming days. Any more gains could set the pace for a move toward the $0.088 level. Are Dips Supported in TRX? If TRX price fails to clear the $0.0750 resistance, it could correct lower. Initial support on the downside is near the $0.0730 zone and the trend line. The next major support is near the $0.0715 level or the 100 simple moving average (4 hours). The main support is $0.0690, below which there is a risk of a move toward the $0.0650 support. Technical Indicators 4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level. Major Support Levels – $0.0732, $0.0715, and $0.0690. Major Resistance Levels – $0.0750, $0.080, and $0.085.
Tron price is consolidating near the $0.080 support against the US Dollar. TRX could outperform Bitcoin if the bulls stay active above $0.080. Tron is holding major support near $0.080 against the US dollar. The price is trading above $0.0805 and the 100 simple moving average (4 hours). There is a crucial bullish trend line forming with support near $0.0810 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could start a decent increase if there is a move above the $0.0835 resistance. Tron Price Holds Key Support In the past few days, Tron’s price saw a steady decline from the $0.094 zone against the US Dollar, similar to Bitcoin and Ethereum. TRX traded below the $0.0850 support to enter a short-term bearish zone. The price even declined below the $0.0835 support, but the bulls were active near the $0.080 level. A low is formed near $0.0804 and the price is now consolidating losses. TRX is now trading above $0.0805 and the 100 simple moving average (4 hours). There is also a crucial bullish trend line forming with support near $0.0810 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0835 zone. It is close to the 23.6% Fib retracement level of the downward move from the $0.0939 swing high to the $0.0804 low. Source: TRXUSD on TradingView.com A close above the $0.0835 resistance might send TRX further higher. The next major resistance is near the $0.0872 level or the 50% Fib retracement level of the downward move from the $0.0939 swing high to the $0.0804 low, above which the bulls are likely to aim a larger increase toward the key $0.0900 zone in the coming days. Any more gains could set the pace for a move toward the $0.094 level. More Downsides in TRX? If TRX price fails to clear the $0.08350 resistance, it could extend its decline. Initial support on the downside is near the $0.0810 zone and the trend line. The first major support is near the $0.080 level or the 100 simple moving average (4 hours), below which the price could accelerate lower. The next major support is $0.0760. Technical Indicators 4 hours MACD – The MACD for TRX/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently near the 50 level. Major Support Levels – $0.0810, $0.0800, and $0.0760. Major Resistance Levels – $0.0835, $0.0872, and $0.090.
Could Tron truly be the next big thing in the world of cryptocurrencies? Is it the perfect time to buy TRX? Let's analyze.
Tron price is up over 5% and gaining pace above $0.072 against the US Dollar. TRX outperformed Bitcoin and could rise further toward $0.080. Tron is trading in a positive zone above the $0.0720 pivot level against the US dollar. The price is trading above $0.072 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.0728 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair is likely to continue higher if it clears the $0.0765 resistance level. Tron Price Rallies 5% In the past few sessions, Tron’s price gained pace above the $0.0700 level against the US Dollar, outperforming Bitcoin and Ethereum. TRX broke many hurdles near the $0.072 resistance and the 100 simple moving average (4 hours). The price traded close to the $0.0780 resistance. A high is formed near $0.0768 and the price is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $0.0668 swing low to the $0.0768 high. It is now trading above $0.072 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0728 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0750 zone. Source: TRXUSD on TradingView.com A close above the $0.0750 resistance might send TRX further higher. The next major resistance is near the $0.0768 level, above which the bulls are likely to aim a larger increase toward the key $0.0800 zone in the coming sessions. Any more gains could set the pace for a move toward the $0.082 level. Dips Likely to be Limited in TRX If TRX price fails to clear the $0.0768 barrier, it could correct lower. Initial support on the downside is near the $0.0728 zone and the trend line. The next major support is near the $0.0720 level or the 50% Fib retracement level of the upward move from the $0.0668 swing low to the $0.0768 high. The main support is $0.0700, below which there is a risk of a move toward the $0.0668 support. Technical Indicators 4 hours MACD – The MACD for TRX/USD is losing momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 65 level. Major Support Levels – $0.0728, $0.0720, and $0.0700. Major Resistance Levels – $0.0750, $0.0768, and $0.080.
TRON is gradually getting its bullish rating back despite the sideways action across the crypto market. TRX price steadied the uptrend after respecting support provided [...]
Tron is showing interesting technicals as prices are about to break a resistance. How high can Tron price reach? Can Tron reach 10 cents?
On January 24, Justin Sun, TRON Founder, announced that St. Maarten has expressed his wishes to adopt TRON which is alongside TRON’s goals of massive adoption on a global scale. St. Maarten bares plans of adopting TRON TRX price down by 3.31% Price to peak by Q2 of 2023; could potentially shoot to $0.0973 St. Maarten, also spelled Saint Martin, is a country located in the Kingdom of the Netherlands in the Lesser Antilles, northeastern Caribbean Sea. Related Reading: Solana (SOL) Network On Hyperdrive As TVL And NFT Trade Volume Soars Image: Zipmex Decentralization, The Name Of The Game TRON (TRX) refers to the decentralized open-source blockchain network that allows users to seamlessly connect with each other while also providing them access to a myriad of entertainment applications including graphics, videos, and games. Essentially, decentralization remains the focus of the TRON project which facilitates the smooth transfer of money between users without any interference from financial companies or middlemen. Another milestone for #TRON! St Maarten to adopt TRON as legal tender marks another achievement for our push on worldwide blockchain adoption.https://t.co/HXEnouj0Le — H.E. Justin Sun????????????? (@justinsuntron) January 23, 2023 The contrasting factor lies mainly in TRX unique architecture, as it is dispersed into three categories or layers: the Storage Layer which has a distributed block storage the Application Layer which is mobilized by developers for creating dApps that are used for issuing tokens the Core Layer which consists of varied modules and smart contracts These different layers are interconnected using a protocol that is compatible with multiple programming languages. More so, the network also has built its community which is fostered towards the goal of speeding up the internet’s decentralizations with the use of blockchain and dApps. On December 27, the TRX community merged with the Enterprise Ethereum Alliance (EEA) bandwagon, which is geared towards promoting best practices with the use of Ethereum blockchain technology, enabling real-world applications and processes. TRON As Legal Tender; Social Volume Up With St. Maarten’s announcement declaring the adoption of TRON as legal tender, its native token responded accordingly with metrics looking positive. TRX’s social volume spiked which hints at its booming popularity. More so, TRX also exhibited an increased demand in the futures market with its Binance Funding Rate extremely high. Related Reading: Aptos Climbs 75% – What Keeps APT In The Green In Last 7 Days TRX total market cap at $5.5 billion on the daily chart | Chart: TradingView.com However, the network’s development activity has plunged as seen in the past couple of days which could pose problems for the network. According to CoinMarketCap, TRX price is seen to retreat by 3.31%. The token is trading at $0.06068 as of this writing. Evidently, investors have so much to rejoice about with TRX looking to spike in the next couple of days as seen in the recent market indicators, with the crypto peaking in the Q2 of 2023 or reaching as much as $0.0973. With St. Maarten’s collaboration with TRON, the latter taps into the inclusive and expansive global network which can further boost the island nation’s economy. Featured image by World Atlas
TRON has been on an uptrend and looking bullish for the past 12 hours. The technical indicators all imply an increased demand on the asset and a steady streak. Here’s a quick glance of how the crypto has been performing of late: TRX price up by 0.20% as of this writing Technical indicators show increased TRX demand TRON second in line in terms of TVL Tron Price Retraces By Half According to CoinMarketCap, TRX price has spiked by 0.20% or is trading at .05529 as of this writing. TRON has tested the key support level of $0.54 several times this month. TRX price has also retraced by 50% or currently at the $0.0578 level as the coin retreated from 0.066 to $0.047. Related Reading: VeChain Jumps By 4% As VET Investors Look To Profit Before Christmas Source: TradingView The Visible Range Volume Profile looked promising too as it showcased the point of control which is at the $0.055 level and with the value area high seen at $0.059. On November 26, TRON retested the key support level of $0.0527. The bullish breaker can be spotted right below this level extending from $0.0527 to $0.0516. Evidently, the price has tried to retest the bullish breaker several times, seeing a visible reaction on every retest performed. TRON has recently disclosed they are second in line in terms of Total Value Locked (TVL), trailing behind Ethereum. It also demonstrated an impressive burn rate which only supports the premise of TRON’s accelerating growth. TRX total market cap at $5 billion on the daily chart | Chart: TradingView.com The frequent retests done on the bullish breakers as well as the higher lows has triggered the formation of a right-angled pattern which could be signaling a breakout northwards on price. On the other hand, Bitcoin is trying to barrel past the mounting pressure experienced at the $17k-$17.4k, which hints that a pullback could give the bulls an opening to go and buy TRX. Related Reading: Why Bitcoin Long-Term Holders Seem To Be Losing Interest In BTC Source: TradingView Tron OBV On The Rise TRX is now being supported, but is failing to make any notable chart moves. Instead, price action is continuing to move sideways within the pennant that formed. Meanwhile, a further rejection would send the TRX price action back down, where it would then attempt to test the support provided by the the ascending trendline. Source: TradingView Should that level be breached, bearish follow-through trading towards $0.051 can be anticipated. Since November, it has been observed that TRON’s on-balance volume has been rapidly increasing, which demonstrates an exceptionally high level of buying pressure. In this case, although the formation of the right-angled pattern hints at an upward breakout, there seems to be another scenario as shown in the flat open interest chart. This suggests that TRX price may have already peaked which means a lack of further momentum could signify a weakening in the trend.
Tron’s native token TRX has been seeing significant upside on the FTX exchange since the announcement of a potential deal that would allow users to withdraw funds. This deal is one of the only ones that have gone into effect since FTX began experiencing issues and it seems users are already taking advantage of it. However, it is not all rosy as users begin to notice the downside to this. TRX Price Explodes On FTX TRX token is already up more than 500% on the FTX crypto exchange over the last week on the FTX exchange. Tron founder Justin Sun had seemingly worked out an agreement with the troubled exchange to allow users to swap their crypto currently stuck on the platform for TRX tokens and then withdraw it. Related Reading: XRP Price Rallies 15%, Why Ripple Could Outperform Bitcoin and Ethereum This would obviously make it possible for users to swap digital assets such as bitcoin, ethereum, etc, to TRX, and then proceed to withdraw it, making it possible for them to withdraw previously stuck funds from FTX. It has naturally become a popular option for FTX users, causing the price of the digital asset to balloon on the exchange. In just 24 hours following the announcement, TRX’s price was already up significantly. While the token’s price remained relatively low on all other exchanges, it had traded to a high of $0.43 on the FTX exchange. Compared to the $0.05 price mark that is the case across all other exchanges, it is trading at a 600% premium on FTX. TRX price spikes on FTX | Source: TRXUSD on TradingView.com There has been some fluctuation in the price since the token hit this new high on the platform. However, the price still remains high at $0.43 at the time of writing, with trading volumes already exceeding $630 million in a 24-hour timeframe. Not A Good Deal At first, converting digital assets to TRX on the FTX exchange in order to withdraw looked like a good idea, but that only lasted as long as prices on the exchange correlated with the broader crypto market. As the price of TRX inflated on the FTX exchange, the value that users were getting when they swapped their tokens quickly plummeted. With TRX being 500% above market price on FTX, it means that the exchange’s users would only be getting about 20 cents on the dollar when they swap. This is because after withdrawing TRX from FTX, they would still have to swap the tokens at current market prices. To put this in perspective, say someone has $10,000 worth of bitcoin and swapped it to TRX at $0.43 (current prices), they would get around 38,570 TRX. When they withdraw and move to other exchanges for sale, taking the current price on Coinmarketcap of $0.05, they would have only $1,162 after selling. This translates to roughly 12 cents on the dollar. Related Reading: Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap? Meanwhile, Tron is making bank buying these digital assets for cheap as they are the only ones allowed to transfer TRX into FTX. At the current rate, they will be seeing millions of dollars in profit, presumably giving FTX a healthy cut of the proceeds. What this shows is that it is the end users that always get screwed over in times like these. Even deals that seem to be “helpful” turns out just to be another way to exploit users who are already in a vulnerable position from the exchange’s collapse. Featured image from Medium, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
TRX prices seem to have stabilized, even increase. How high will Tron go in 2025? Let's analyze in this Tron price prediction article.
TRON can be a good project with high returns in the long run. How high can TRON reach in 2050? Let's analyze in this TRX price prediction.
According to recent news reports, Tron (TRX) outperformed both Bitcoin and Ethereum in terms of energy efficiency. TRX social dominance up TRX price down by 2.97% Future trends show TRX to plunge further Compared to Bitcoin, Tron uses 99.9% less energy (just 162,868 kWh). Being a major issue in the most recent session, crypto mining has been welcome publicity for Tron. The Tron DAO recently tweeted a link to a blog post where they provided an update on some of their on-chain metrics and informed their followers of the exciting development. Apparently, the number of accounts added has increased, and that Tron’s height has surpassed 43.61 million. Tron added over 971880 accounts this week, according to the blog post. According to CoinMarketCap, TRX price has nosedived by 2.97% or trading at $0.06347 as of press time. The TRON coin appears to be expanding quickly, as seen by a jump in transactions and TVL. Although there have been sporadic surges, its social dominance metric has remained stable. Related Reading: Shiba Inu Burn Events Spark A Rally In Altcoin Over The Past Weeks TRX Down In Terms Of Market Cap, Volume It’s not all sunshine and roses for TRX, despite the fact that things are looking up on the social media front. Since May, there has been a declining trend in both volume and market capitalization. In addition, Tron’s volume metric has experienced extreme fluctuation. The level of development activity has likewise dropped by an unheard-of amount. This might be a sign that the Tron technology is not likely to see many breakthroughs or significant improvements anytime soon. The advantages and disadvantages of Tron, however, seem to be in continual conflict with one another. On the micro-frame, however, the price hasn’t exhibited the same volatility. Chart from TradingView.com TRX Price Action Hints At Bullish Omen TRX Future The $0.071 resistance and $0.063 support levels have mostly influenced TRX’s price action for a while now. In recent times, nonetheless, the price did surpass the $0.063 resistance level. Nevertheless, it has recovered. The midline of the Bollinger Bands was being traded above by TRX on August 30. It may be interpreted as a bullish omen. It will be interesting to watch if TRX can overcome its immediate resistance and continue to rise. Future price trends for TRX are shown by the weekly technical chart. Near $0.1, Tron’s upward momentum may come to a stop. The coin is currently supported at around $0.03. On the daily chart, the asset has been trading close to $0.069 with a loss of 2.07. The price of the asset is presently trading below both the 50 and 100 Daily Moving Averages. New future highs are possible if the asset price crosses above the 100 DMA. Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt BTC total market cap at $5.8 billion on the daily chart | Source: TradingView.com Featured image from AAX Academy, chart from TradingView.com
TRON (TRX) continues to gain traction despite the current erratic market movement. TRX has recently seen TVL growth by $6 billion in July which is by far due to a revival of investor interest specifically in DeFi. TRON has been the most-supported DeFi smart contracts seen in the past two years. In fact, blockchain has accelerated by 49% in terms of TVL as observed in July. In fact, July growth was exponential as TRON’s TVL was seen to surge from $3.95 billion on July 1 to $5.91 billion at the end of July. TRON was establish in 2017 by Founder Justin Sun. TRX is seen to be a highly-acclaimed project that is profound in terms of scalability. This protocol is ambitious and designed in creating a specialized infrastructure for a completely decentralized type of internet. Related Reading: Optimism Price Bloats 25% – OP Seen Ballooning In Coming Days TRON: More TVL Than Polygon, Solana, Avalanche TRON was originally an ERC20 token built in Ethereum’s ecosystem. However, due to issues with scalability that is linked to Ethereum’s overtly expensive gas fees, TRON announced that they would be moving forward with a new peer-to-peer network in 2018. TRON TVL increased in July because of the increase of dApps in the ecosystem. In fact, JustLend, a DeFi, increased by as much as 19% the previous. More so, JustStables (USDJ) also soared to more than 2% following the same period. In addition, decentralized exchanges that include UniFi and SocialSwap also spiked by a whopping 550% and 6%; respectively. TRON is said to have more TVL compared to Polygon, Solana, and Avalanche. TRX is said to have move to the third spot following Ethereum and Binance Smart Chain. Chart: TradingView.com TRON Switches To Bearish Mode TRX started July trading at $0.06479 and ended the month at $0.06894. In general, this showed a boost of 6% covering the opening and closing price of TRX. The bears were trying so hard to penetrate the market but the bulls didn’t let as they pumped the price further up. The bears do need to get their act together so they can tilt the token price in their favor. The coin was going the bullish trend from August 2 but the bears were able to slice into the trade on August 4 as the bulls were able to push the price up on the daily chart. According to CoinMarketCap, TRON is down by 0.41% or $0.06965 as of this writing. If the bulls can reenter by force and turn the tables around then the bears may lose it to the bulls. However, if the bears can push the price down, then this will render more damage for the bulls so they’ll keep pushing back. With these opposing forces, the price could break at the support zone of $0.0669 and the price may fall to its next support at $0.0627. Related Reading: Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline? TRON total market cap at $384 billion on the daily chart | Source: TradingView.com Featured image from MyConstant, chart from TradingView.com
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