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Tron Price Prediction: TRX Outperforms Bitcoin and Could Rally To $0.082

Tron price is rising and trading above $0.0760 against the US Dollar. TRX is outperforming Bitcoin and could rally further toward the $0.0820 resistance.

  • Tron is moving higher from the $0.0720 support zone against the US dollar.
  • The price is trading above $0.0760 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.0762 on the 4-hour chart of the TRX/USD pair (data source from Kraken).
  • The pair could continue to climb higher toward $0.080 and $0.0820.

Tron Price Starts Fresh Increase

This past week, Tron’s price saw a sharp decline below the $0.0760 support against the US Dollar, similar to Bitcoin and Ethereum. TRX tested the $0.0715 zone where the bulls took a stand.

A low was formed near $0.0713 and the price started a fresh increase. There was a decent increase above the $0.0740 and $0.0750 resistance levels. It even outperformed Bitcoin in the past couple of sessions and broke the $0.0760 resistance.

There was a move above the 76.4% Fib retracement level of the downward move from the $0.0775 swing high to the $0.0713 low. TRX is now trading above $0.0760 and the 100 simple moving average (4 hours).

There is also a key bullish trend line forming with support near $0.0762 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0790 zone. The first major resistance is near $0.080, above which the price could rise toward the $0.0820 resistance or the 1.618 Fib extension level of the downward move from the $0.0775 swing high to the $0.0713 low.

Tron Price Prediction

Source: TRXUSD on TradingView.com

A close above the $0.0820 resistance might send TRX further higher. The next major resistance is near the $0.0850 level, above which the bulls are likely to aim a larger increase toward the key $0.0900 zone in the coming days.

Are Dips Limited in TRX?

If TRX price fails to clear the $0.080 resistance, it could start a downside correction. Initial support on the downside is near the $0.0760 zone and the trend line.

The first major support is near the $0.0745 level, below which the price could accelerate lower. The next major support is $0.0715.

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 – $0.0760, $0.0745, and $0.0715.

Major Resistance Levels – $0.0790, $0.0800, and $0.0820.

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Post-Hack Shenanigans: Curve (CRV) To Launch On TRON Following $2 Million Investment

Curve Finance, a decentralized liquidity pool for stableswap and stablecoin trading, has disclosed a strategic partnership that will see the decentralized exchange (DEX) launch on the TRON network. 

Curve Set To Launch On Tron And BTTC Networks

Decentralized Exchange, Curve Finance has solidified its position as the second largest DEX, following the announcement of its integration into the TRON network.

Curve Finance’s recent alliance with the TRON network has prompted a substantial investment from TRON DAO Ventures, a venture capital firm established by the TRON network. On Thursday, August 17, TRON Founder, Justin Sun purchased $2 million worth of CRV, the native token of the DeFi protocol. 

Similarly, Curve Finance has stated that it will be launching on the BitTorrent Chain (BTTC) network, a peer-to-peer network blockchain scaling solution for file and data sharing. The Integration of the protocol into TRON DAO and BTTC networks aims to fuel the development of innovative DeFi projects and the growth of DeFi ecosystems. 

Curve Finance is widely known for its role in stable coin trading by providing low slippage exchanges through automated market maker (AMM) algorithms. By aligning with the protocol, TRON  and BTTC will benefit from lower financial costs and indirect backing from prominent blockchains Curve DAO supports including Avalanche, Ethereum, and Arbitrum.

Justin Sun welcomed the newly formed alliance with enthusiasm. He commented that Curve Finance plays a pivotal role in the DeFi ecosystem and blockchain industry and looked forward to new innovative solutions promoted by the partnership. 

“Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let’s support and strengthen the security measures to protect our decentralized ecosystem,” Sun stated. 

Curve (CRV) price chart from Tradingview.com (TRON DAO)

Compensation For Hack Victims Following Tron Alliance

The decentralized finance (DeFi) landscape was previously shaken up following news of a hack on the DEX. On July 30, Curve Finance fell victim to a reentrancy attack that exploited vulnerabilities in its smart contract codes, resulting in a loss of $62 million. 

Following the news of the hack attack, the CRV token declined and the majority of the DeFi ecosystem was in panic. However, Curve Finance has reportedly recovered 70% of the funds and to recover the rest of the stolen funds, the protocol has placed a bounty on the attacker, promising $1.85 million to anyone able to reveal the hacker’s identity. 

Curve Finance has also promised to compensate victims of the security breach. The DEX has stated that it will distribute reimbursements fairly as they determine the extent of damages and work toward recovering the stolen funds. 

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Tron Price Prediction: TRX Extends Rally As Bulls Eye $0.08

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.

Tron Price Prediction

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.

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Justin Sun Will Now Publicly Trade Meme Coins Like PEPE, Best Time To Copy Trade Him?

Justin Sun, the vocal crypto supporter and co-founder of Tron and chief executive officer (CEO) of BitTorrent, says he will begin actively trading meme coins like PEPE. 

Justin Sun Eying Meme Coins

In a tweet on May 11, Sun, known for being a crypto whale, actively holding and transferring colossal sums of coins in the past, said he would begin actively trading meme coins and promising projects straight from his public cryptocurrency address. 

However, as a disclaimer, all profits will be donated to charity. 

He also added that though he might decide to buy certain coins and get exposure to a promising meme coin project, the said coin or project, regardless of its potential, may not be listed on Huobi or Poloniex. These are some of the early and most liquid cryptocurrency exchanges listing hundreds of tokens that Sun occupies an influential executive seat.

It is still unclear which project Sun has an eye on. At the same time, it could not be determined which of his crypto addresses the co-founder will use when trading meme coins. 

Although Sun might be the co-founder of Tron, he has not shied from engaging in other projects deployed on public networks like Ethereum and others.

Tron Co-founder Warned By Binance

Following a warning from Changpeng Zhao, the CEO of Binance, the world’s largest exchange by client count and trading volumes, Sun reversed a $56 million transfer he had made in early May. There were concerns that Sun was planning a token grab of SUI, the native currency of the Sui Network. 

WhaleAlert flagged Sun’s bulk $56 million transfer in TUSD. Before Zhao said, Binance would take action if he block-bought SUI from the Binance Launchpool. The exchange clarified that it wanted a fair airdrop to include active retailers and not “just a few crypto whales.” 

Through the Launchpool, users can stake their crypto assets like SUI, providing liquidity, before receiving staking rewards. 

SUI Price On May 11| Source: SUIUSDT On Binance, TradingView

Sun later apologized for the huge transfer, saying it was in error. The real intention, he clarified, was in the market-making of TUSD, a stablecoin. The Tron founder said:

Regrettably, some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns. Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund of the funds.

It is not immediately clear how Sun will proceed in trading and how the community will react to his purchases once he starts picking out worthy meme coin projects. Even so, what’s clear is that his addresses, like those of other influential crypto founders like Ethereum’s co-founder Vitalik Buterin, will be actively tracked and copied.

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Tron Price Prediction: TRX Outperforms Bitcoin, Aims $0.075

Tron price is up over 5% and showing positive signs above $0.068 against the US Dollar. TRX outperformed Bitcoin and rise further towards $0.075.

  • Tron is trading in a positive zone above the $0.0680 pivot level against the US dollar.
  • The price is trading above $0.0685 and the 100 simple moving average (4 hours).
  • There is a major bullish trend line forming with support near $0.0692 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 $0.0695 resistance level.

Tron Price Signals Uptrend

In the past few sessions, Tron’s price remained strong above the $0.0650 level against the US Dollar, outperforming Bitcoin and Ethereum. TRX gained pace for a clear move above the $0.068 resistance and the 100 simple moving average (4 hours).

The price traded close to the $0.070 resistance. A high is formed near $0.0699 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.0640 swing low to the $0.0699 high.

It is now trading above $0.0685 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0692 on the 4-hour chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.0700 zone.

Tron Price Prediction

Source: TRXUSD on TradingView.com

A close above the $0.070 resistance might send TRX further higher. The next major resistance is near the $0.0720 level, above which the bulls are likely to aim a larger increase toward the key $0.0750 zone in the coming sessions. Any more gains could set the pace for a move toward the $0.078 level.

Dips Likely to be Limited in TRX

If TRX price fails to clear the $0.070 barrier, it could correct lower. Initial support on the downside is near the $0.069 zone and the trend line.

The next major support is near the $0.0670 level and the 100 simple moving average (4 hours). The main support is $0.0662, below which there is a risk of a move toward the $0.064 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 – $0.0690, $0.0670, and $0.0640.

Major Resistance Levels – $0.070, $0.072, and $0.075.

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TRON As Currency: Kingdom Of The Netherlands To Adopt TRON As Legal Tender

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.

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.

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’s Social Volume Up, But Development Activity Wanes

With St. Maarten’s announcement declaring the adoption of TRON, 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.

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 its economy.

Featured image by World Atlas

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TRON Snags No. 2 Spot In TVL As Revenue Spikes Amid Bear Market Pressure

According to a tweet by TRON (TRX) on January 10, the network has displayed an impressive performance as it is currently ranked second in terms of total value locked (TVL) in the entire crypto space.

TRON’s TVL has reached $9.2 billion by end of 2022, TRON DAO disclosed.

  • TRON chief executive to extend help to FTX and SBF
  • TRX price spikes by 1.52%
  • TRX remains robust in terms of trades

A lot of people are now keeping an eye on TRON, and wondering whether it can hold on to its ranking and recuperate especially following its recent sharp decline.

The network has always championed its quest for further decentralization. In fact, in comparison to other crypto assets, TRX has made significant progress over a short span of time.

TRON

TRX Price In The Green, Up 11% In Last Week

According to CoinMarketCap, TRX’s price has increased by 11% in the last seven days, and trading at $0.05744 as of writing.

Noticeably, many investors are worried about their crypto investments, especially with the crypto crash that happened just recently.

TRON CEO, Justin Sun, disclosed that he would extend some help to both FTX and its former CEO, Sam Bankman-Fried so the crypto exchange can recover.

This recent statement by Sun is quite controversial and has put the network on a bad light. More so, this caused investors to hesitate with the crypto especially as it shows support for the disgraced crypto company.

Meanwhile, TRX is said to lead the crypto space in terms of trustworthiness, being an open network. The year 2022 is said to be the token’s best year so far with its price shooting to as much as 2,950%, an all-time high.

In fact, even in the face of an ongoing bear market, TRON remains to be as robust as ever in terms of trades with investors generously funding the network.

FUD Surrounding TRON Still Felt

Recent price activity in TRON (TRX) has been influenced by Bitcoin (BTC) and the activity of the US stock market. On the 11th of January, speculators wagered on reduced U.S. inflation, which boosted cryptocurrency markets and led to a rally on U.S. stock markets.

At the time of publication, the fear, uncertainty and doubt surrounding TRON’s founder Sun and the Huobi exchange can still be felt, which contributed to the negative weighted sentiment regarding TRX.

This demonstrates that the investor had a pessimistic view of the asset going into the transaction. However, this was not enough to stop TRX from surging.

At this point, TRON’s revenue has shown to spike from $509,942 to $637,526 as seen in the previous month. The increase in revenue is said to be triggered by the padding of the number of active wallet addresses on the network which also shows an increase in users by 4.53%.

Overall sentiment for TRON is positive, which could mean that TRX price has the potential to skyrocket in the future.

-Feature image by MEXC Blog

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Tron Shows Bullish Energy And Attracts Investors To Buy TRX

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.

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.

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.

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.

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.