According to Odaily, Charles Hoskinson, the founder of Cardano, has addressed concerns regarding the governance structure of the Cardano Foundation. Hoskinson emphasized the Foundation's commitment to decentralization principles and community oversight. He clarified that the Foundation operates independently from the ecosystem's other major stakeholders, IOHK (Input Output Global) and Emurgo. However, he expressed concerns that the Foundation's $600 million ADA treasury does not directly represent the community's interests.

Hoskinson criticized the Foundation's lack of enthusiasm for funding projects like Catalyst, suggesting this could hinder the ecosystem's growth. He warned that this approach might pose sustainability challenges for the ecosystem, especially as key contributors like IOHK work without adequate incentives.

Cardano supporter Rick McCracken raised questions about IOHK's transparency, leadership decisions, and the overall direction of the ecosystem, advocating for changes in governance. In response, Hoskinson acknowledged some issues within IOHK, such as the need for layoffs during bear markets, but affirmed the organization's ongoing focus on ecosystem development.

TRON (TRX) price action has attracted interest in the crypto market with analyst Javon Marks’ analysis highlighting a strong upward trend in its price. Marks highlighted a major breakout from a long-term pattern, suggesting TRX may be on a path to higher price targets.

At press time, TRON is trading at $0.2608, reflecting a 3.90% increase over the last day and a 9.21% rise in the past week, according to CoinGecko. This price action continues to align with the projected momentum following the breakout.

Logarithmic Falling Wedge Breakout and Initial Rally

Marks’ analysis points to a falling wedge pattern that spanned several years. This technical formation, marked by converging trendlines, typically signals a potential reversal of downtrends.  TRON’s price broke out from the pattern, confirming a shift toward a bullish trajectory. 

$TRX (TRON) is still holding up nearly +300% since the displayed logarithmic 'wedge' breakout and measured movements continue to suggest higher!With this breakout holding, another +444% move from here to $1.11 can still be on the radar and prices look to be well en-route to. https://t.co/bsqjX3mHxy pic.twitter.com/C80zxwnDeL

— JAVON MARKS (@JavonTM1) December 27, 2024

Following this breakout, TRX recorded a 300% rally. This movement corresponds to the measured height of the widest section of the wedge, which historically serves as a reliable indicator of potential gains. The breakout has also established a foundation for long-term bullish momentum.

Next Price Target of $1.11 Supported by Fibonacci Extensions

Marks projects a target price of $1.11 for TRX, representing an additional 444% increase from current levels. This target is derived from the 1.618 Fibonacci Extension level, a key tool in technical analysis for identifying future price movements.

The path to $1.11 depends on TRX maintaining its current support levels around $0.25–$0.30, which previously acted as resistance. 

Should prices fail to hold at this level, TRX may retest lower boundaries of the wedge. Conversely, breaking above immediate resistance at $0.45–$0.52 could validate the continued bullish trend.

Read also: Expert Maps Stellar (XLM) Price Path to $1, But There’s a Catch

Long-Term Bullish Indicators Reinforce Momentum

TRX’s price movements also suggest a bullish continuation pattern, characterized by a series of higher highs and higher lows. This trend has been bolstered by the logarithmic growth observed post-breakout.

Marks emphasized the alignment of Fibonacci projections with the $1.11 target, strengthening the case for TRON’s upward trajectory. With resistance levels clearly defined and historical patterns backing the analysis, the price outlook remains optimistic.

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