TRON (TRX) has risen more than 17% since May 21, thus breaking once again above the key barrier at $0.074. At the time of publication, TRX was changing hands at $0.08, up 5% in the last 24 hours. According to CoinMarketCap data, TRON (TRX) is currently outpacing Shiba Inu in terms of market capitalization. With a present market valuation of $7.6 billion, TRON now ranks as the 14th largest cryptocurrency, just ahead of Shiba Inu’s market cap of $6.56 billion. TRON continues to gain traction following the launch of its algorithmic stablecoin. Per DefiLlama, the TRON blockchain has entered the top 3 chains. Its Total Value Locked (TVL) has increased by a staggering 24.07% over the last 24 hours. TRON’s TVL stood at $5.4 billion at the time of publication.
Key Levels
Resistance Levels: $0.100, $0.092, $0.082
Support Levels: $0.075, $0.071, $0.062
TRX/USD Daily ChartBuyers saw a chance for TRX to join the market rebound, pushing the price positively to $0.082 on May 23. More buying pressure at this level might increase further gains. The daily RSI above its middle benefits the bulls. On the downside, if bears can push the price lower to $0.074 and moving average (MA 200) support, a downward breach below the MA 50 at $0.070 is possible.
Traders selling on rallies, on the other hand, might keep the TRX/USD pair range-bound between $0.080 and $0.060. If the bears gain the upper hand, the initial support level is expected to be $0.075 slightly above the MA 200. Support levels at $0.071 and $0.062 might come to the rescue if this fails.
TRX/USD 4-Hour ChartTRX reached a high of $0.081 during the present session, but the upside momentum shows no sign of slowing down. TRX is trading at $0.080, with buyers battling for control of the market. Before moving further, the small resistance range of $0.080 to $0.085 must be cleared. $0.075 is the support zone beneath the present price level that must be maintained to avoid panic selling.
If this support fails, the TRX/USD pair is anticipated to find support near the 4-hour MA 50 close of $0.073 followed by 4-hour MA 200 at $0.071. On the upside, TRX buyers could aim for $0.085, whereas a breach over this level would open the door to advances above $0.09. Only the $0.092 stands as the current yearly high a strong resistance.
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