[TRON Price Analysis: What does a 37% increase in active addresses mean for TRX recovery]
TRON Price Analysis: Despite high market volatility, TRON coin has been in a bullish trend since last Friday (the day of the Bitcoin network halving), with the price climbing from $0.105 to $0.115, a 10.5% increase. Prices have now challenged monthly resistance, hinting at possible further gains.
Despite the bearish medium-term trend, TRX’s daily chart shows a price decline of 27.2% from $0.144 to $0.104. However, during the recent Bitcoin halving event, the price found support at the 38.2% Fibonacci retracement level at $0.105, after which renewed buying pressure took the price back to $0.115.
According to data from crypto analytics firm IntoTheBlock, the Tron network’s daily active addresses increased by 37% from last month to 2.27 million, reflecting increased interest and participation in the Tron ecosystem.
If the bullish momentum continues, TRX price is expected to break above the key trendline and rise further towards $0.12 and possibly $0.144.
