TRX Price Analysis: Tron Climbs 30% Ahead of Algorithmic Stablecoin USDD Launch on May 5

• TRX has risen in value over the last 24 hours
• At the time of publication, TRX was changing hands at $0.0826
• Tron’s stablecoin, USDD is scheduled to be issued and enter circulation on May 5

TRX has risen in value over the last 24 hours as Tron prepares for the release of its algorithmic stablecoin, USDD on May 5. At the time of publication, TRX was changing hands at $0.0826, up 17.19% in the last 24 hours and 31.11% since the past week. Tron has gained in value since the start of May after the date of the stablecoin launch was announced. The algorithmic stablecoin is scheduled to be issued and enter circulation on May 5. It will also be available on Ethereum and BNB Chain through the BTTC cross-chain protocol. TRON DAO joined hands with major blockchain players to launch USDD (Decentralized USD), a decentralized stablecoin that aims to make finance accessible to all by applying mathematics and algorithms. Tron says it will be ushering into Stablecoin 3.0 era via the USDD stablecoin

Key Levels
Resistance Levels: $0.1000, $0.0955, $0.0853
Support Levels: $0.0750, $0.0650, $0.0550

TRX/USD Daily Chart: Ranging

TRX/USD Daily Chart

On May 4, TRX reached a high of $0.0833 with a more bullish impulse to keep going. Bulls must increase the price of TRX beyond $0.0853 Dec 23 resistance. The first significant resistance level above this level is $0.0955. If this hurdle is overcome, TRX/USD pair might accelerate and rise to $0.1. The RSI is in the overbought zone, suggesting bulls are in control.

If the bulls are unable to push the price over the $0.0853 barrier, TRX might return to support below $0.0750. If the price of TRX falls below $0.0700, the optimistic forecast will be invalidated. In this circumstance, TRX might be compelled to seek the next buyer congestion zone, which is located around $0.0600 beneath the daily MA 50.

TRX/USD 4-Hour Chart: Bullish

TRX/USD 4-Hour Chart

TRX broke over the barrier at $0.0820 to continue its upward trend. Before the bulls stepped in, the token hit resistance at $0.0775, dropping to lows of $0.0748. Despite this, bulls’ focus is on $0.1, but they must first breakthrough resistance level at $0.0853, then $0.0955.

TRX/USD, on the other hand, should avoid falling below $0.0750 unless there is a sustained sell-off. The MA 50 ($0.0675) is the next support in this circumstance. Selling pressure might be resisted by support at $0.0650, which coincides with the MA 200. TRX is only positive when trading above the $0.0700 level, with strong resistance at $0.0853.

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