Bitcoin

Resistance

TRON

Daily

<ul> 
 <li><strong>Tron (TRX) surpassed its key resistance level to hit its 18-month high.</strong></li> 
 <li><strong>A surge of 241% in the daily trading volume indicates a boost in investors’ sentiment.</strong></li> 
 <li><strong>TRON holds the second-highest TVL, following the top contender Ethereum.</strong></li> 
</ul> 
<p>TRON (TRX), the native cryptocurrency of the Tron blockchain, has entered the top gainers list with a 24-hour gain of over 8%. TRX staged a rally to an 18-month high of $0.09439, marking its highest peak since January 2022.</p> 
<p>Astoundingly, as per TradingView, around 00:00 UTC, TRX experienced a 17% surge — from $0.08043 to $0.09439 — within a specific 4-hour time frame. This price rally is presumably tied to a suspicious $62 million stablecoin minting by TRON founder <a href="https://thenewscrypto.com/is-justin-sun-holding-huge-eth-count/" target="_blank" rel="noopener noreferrer nofollow">Justin Sun</a>. Apart from this, another positive trigger could be the rising traction of TRON-based USDT in Latin America. Let’s analyze the price movement of this cryptocurrency and decode its further growth trajectory.</p> 
<h3 class="wp-block-heading" id="h-tron-trx-24h-price-analysis">TRON (TRX): 24H Price Analysis&nbsp;</h3> 
<p>Over the past three weeks, TRON (TRX) has been in a bullish state. The daily price chart highlights the current price movement above the 50-day exponential moving average (50EMA). Meanwhile, the daily relative strength index (RSI) has surged above 70, moving into the overbought zone.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" width="1024" height="425" src="https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-1024x425.png" alt="" class="wp-image-79335" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-1024x425.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-300x124.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-768x319.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-1536x637.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37-150x62.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/07/TRXUSDT_2023-07-22_12-25-37.png 1815w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption"> <em>TRX/USDT Daily Price Chart (Source: </em><a href="https://in.tradingview.com/symbols/TRXUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow"><em>TradingView</em></a><em>)</em> 
  </figcaption> 
 </figure> 
</div> 
<p>Furthermore, the average directional index (ADX) of TRON (TRX) rose above 25 to denote a strong trend. However, at the time of writing, the price of TRX was at $0.08714 — 7.68% down from its intraday high. According to CoinMarketCap data, the altcoin stood with a market cap of $7,823,845,007 and a bullish 24-hour trading volume of $590,275,728. Also, TRON continues to stand tall as the second-largest TVL holder, with $5.75 billion, after <a href="https://thenewscrypto.com/anoma-and-namada-unveil-intent-centric-vision-for-ethereum-at-ethcc/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>.</p> 
<h3 class="wp-block-heading" id="tron-trx-eyes-a-new-price-target">TRON (TRX) Eyes a New Price Target&nbsp;</h3> 
<p>TRX executed a positive breakout from its horizontal channel by flipping its key resistance level of $0.0857. On a positive note, if TRX sustains a commendable uptrend, it would gain its entry into the $0.1 level. If TRX fails to defend this rally, there are possibilities for the altcoin to retrace to its support levels: $0.0857 and $0.0717.</p> 
<figure class="wp-block-table"> 
 <table> 
  <tbody> 
   <tr> 
    <td>Target Resistance</td> 
    <td>$0.1036</td> 
   </tr> 
   <tr> 
    <td>Critical Support Levels</td> 
    <td>$0.0847; $0.0717</td> 
   </tr> 
  </tbody> 
 </table> 
</figure> 
<p><strong>Highlighted Crypto News Today</strong></p> 
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TRON (TRX) Sees Uptrend: Is $0.1 an Attainable Target?

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TheNewsCrypto

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