TRON (TRX) has been making some solid moves over the past day, with the price currently sitting at $0.1547. After a steady rise, we're now approaching a critical point where the market could either push higher or face some resistance. So, what's next for TRON, and how should traders prepare? Let’s dive into the details! 🚀
Key Support and Resistance Levels
- Support: The first major support is sitting around $0.1506, where TRON has shown strong resilience. The 9-period moving average is currently holding steady just below this, adding an extra layer of protection. If the price drops to this level, expect a bounce.
- Resistance: The current price is testing the $0.1549 resistance. This is the highest point we've seen recently, and if TRON breaks through this level with strong momentum, we could be looking at an extended rally. However, if it gets rejected, we might see a retrace back toward the $0.1506 zone.
MACD and Moving Averages: What’s the Momentum Telling Us?
Looking at the MACD, things are looking bullish at the moment. The MACD line is hovering just above the signal line, indicating that there’s still upward momentum. However, the histogram shows signs of slowing down. While it’s still in positive territory, the bars are shrinking, which could mean that a slowdown or slight retracement is in the cards.
The 9-period moving average is currently just below the price at $0.1536, providing short-term support. Meanwhile, the 26-period moving average is well below at $0.1506, confirming that the short-term trend is still bullish. 📈
Volume: Are the Bulls Running Out of Steam?
The Volume SMA 9 is sitting at 4.865M, which suggests that trading activity is consistent, but we haven't seen the massive surge in volume that often accompanies major breakouts. If TRON is going to push beyond the $0.1549 resistance, we’ll need to see a spike in volume to support the move. Keep an eye on this metric! 📊

Trading Strategy: What Should You Do?
- For Short-Term Traders: If you’re looking for a quick trade, watch how TRON handles the $0.1549 resistance. If it breaks above with increased volume, this could be a solid buying opportunity with a target towards $0.1580 or higher. But be careful—if it gets rejected, consider shorting with a stop loss above $0.1549 and target the $0.1506 support level.
- For Long-Term Investors: If you believe in the long-term potential of TRON, now could be a great time to accumulate. With the price showing upward momentum and testing resistance, any pullbacks toward $0.1506 could be an ideal buying opportunity. Just remember to keep some capital in reserve in case the market takes a deeper dive.
Final Thoughts: What’s Next for TRON?
TRON is currently in a bullish phase, but it's approaching a critical point at $0.1549. If it breaks this resistance with strong volume, we could see an extended rally. On the other hand, if it gets rejected, expect a pullback toward the $0.1506 support. Either way, traders should stay alert and be ready to act quickly! ⚡
What’s your outlook on TRON? Are you bullish or bearish? Share your thoughts in the comments, and don’t forget to follow for more updates on TRON and other altcoins! 💬
#TRX #CryptoTrading #Altcoins #Binance #TRON

As of this writing, the value of TRX, the Tron network's native currency, has not changed and is actually heading around its all-time high. Buyer confidence is high, and the rise that began in Q3 204 shows no signs of abating.

Nearly $100 Billion Sold Through Tron's On-Chain Volume

Rising on-chain activity and changes in crypto market sentiment after US monetary policy swings are contributing factors to the prognosis.

The Tron network resolved about $100 billion in on-chain activity in the previous week, according to statistics from IntoTheBlock. According to the blockchain analytics platform, the increase in on-chain activity is the cause of the surge in on-chain volume.

According to statistics compiled by IntoTheBlock, Tether (USDT) transactions accounted for the vast majority of the $98 billion in trade volume processed by the blockchain in only seven days. Tron is responsible for more than $61 billion USDT, as reported by TronScan.

Tron, which is both cheaper and more scalable than Ethereum, is responsible for initiating more than half of all USDT transactions. Despite the popularity of Ethereum layer-2 solutions, USDT on Tron is still the most popular and dominant option.

Last week, TRX transfers accounted for 2.6% of total on-chain traffic, according to IntoTheBlock analytics. Besides SUN and BitTorrent, JUST is another TRC-20 coin that ranks in the top five. Some of the best DeFi protocols on Tron are primed using these coins.

Increase in TRX Price Caused by Meme Coin Activity?

Curiously, not a single one of these meme currency tokens made it into the top five, despite the fact that activity around meme coins has been on the rise since SunPump's introduction in mid-August. Meme currency fever was stoked on August 13 by Justin Sun, co-founder of Tron, who created SunPump.

According to Dune Analytics, SunPump has made more than $5.3 million from the sale of more than 86,400 meme coins via its launchpad. At the moment, Sunswap lists more than 1,640 SunPump tokens.

Even if the meme coin craze has died down, SunPump's top meme coin, SunDog, and TRX have both reaped the benefits. According to Coingecko, SunDog is up more than 720% from its August 2024 lows as of September 26.

According to the data, TRX is trading at a 10% discount to its all-time high. Even if there has been a decline in trade volume in recent weeks, the upward trend is still intact. With a successful breakout over $0.15, the bull flag that is visible on the daily chart might provide the necessary impetus for a surge above the highs reached in August 2024.

#TRON #SunPump $TRX @Justin Sun孙宇晨

#TRON #TronNetwork #meme_coin #mememcoinseason2024 #BinanceSquareFamily

Introduction

Tron's price maintained its stability on Saturday, September 21, even as SunPump tokens experienced a significant downturn. Tron edged slightly higher to $0.1520, recovering from this week's low of $0.1467. However, it remains 11% below its highest point of the year.

Decline in SunPump Meme Coins

According to data from CoinGecko, SunPump meme coins have seen a substantial pullback in recent days. Sundog, the largest token in the SunPump ecosystem, dropped by 11.1% over the past week, reaching a price of $0.30 and reducing its market cap to $305 million. Other tokens in the ecosystem have also taken a hit:
- Tron Bull : down 8%
- Muncat : down 35%
- SunWukong : down 10%
- Suncat: down 37%

Altogether, the combined market capitalization of all meme coins within the Tron ecosystem has shrunk from over $560 million to $514 million. This declining performance has negatively impacted Tron’s decentralized exchange (DEX) volume, which decreased by 10% in the past seven days, bringing it to $453.6 million.
Meanwhile, other blockchain networks like Solana (SOL), Binance Chain, and Sui saw significant increases in their DEX volumes during the same period—rising by 11%, 22%, and 70%, respectively.

Tron Sees Increased Activity Despite Setbacks

Despite the dip in SunPump meme coins and DEX volume, Tron’s network activity continues to grow. According to blockchain analytics platform Nansen, Tron recorded over 8.2 million transactions on Saturday, marking its highest daily transaction volume since August 27 and significantly surpassing this month’s low of 6.14 million transactions.
Tron also stands out as one of the most profitable networks in the crypto space. Data from TokenTerminal reveals that Tron’s network fees have reached $1.2 billion this year, trailing only Ethereum’s $1.86 billion in the blockchain world. Since its launch, SunPump tokens have generated over $44.8 million in network fees.
Another positive development for Tron is the rebound in its staking yield, which climbed back to 4.97% after dropping to a low of 4.35% last month. This uptick in yield is attributed to an increase in Tron burn and gas fees over the past month.

Technical Analysis: Positive Signs for Tron

From a technical standpoint, Tron shows encouraging signals. It formed a double-bottom pattern around $0.1466 between August and September, which is just above the key support level of $0.1455—its highest swing point in February of this year.
Additionally, Tron has held its position above the 50-day moving average, a bullish indicator, while the Relative Strength Index (RSI) has risen above 50, signaling potential upward momentum. These technical factors suggest that Tron could continue its rise as buyers aim for the year-to-date high of $0.1690.