Ethereum

Bitcoin

Million

TRON

Daily

TRON Price Analysis: Defying the broader market dynamic, the <a href="https://coingape.com/price/tron/">Tron coin price</a> witnessed a notable recovery in June. While the leading assets like Bitcoin and Ethereum hit a low of $60000 and $3233 registering, the TRX price recently hit a five-week high of $0.125. As the crypto market witnessed a renewed recovery sentiment starting from Monday, the TRON buyer’s eyes key resistance to bolster further rally.&nbsp; 
Also Read: <a href="https://coingape.com/6-6b-in-bitcoin-options-and-3-4b-in-ethereum-options-expiring-soon-will-prices-hit-max-pain-point/">$6.6B in Bitcoin Options and $3.4B in Ethereum Options Expiring Soon, Will Prices Hit Max Pain Point?</a> 
<h2 id="span-style-font-weight-400-tron-price-analysis-active-addresses-surge-to-2-5-million-daily-average-span-span-style-font-weight-400-span">TRON Price Analysis: Active Addresses Surge to 2.5 Million Daily Average&nbsp;&nbsp;</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/t/T1YQ9cXM.png" alt="BINANCE:TRXUSDT Chart " width="1942" height="890">
 <figcaption class="wp-caption-text">
 TRON Price Analysis| Tradingview
 </figcaption>
</figure> 
In contrast to the majority of major cryptocurrencies, which followed <a href="https://coingape.com/bitcoin-price-flag-pattern-on-chain-data-signal-reversal-88k-soon/">Bitcoin</a> into a fresh correction trend in June, the TRON coin displayed a different pattern. It successfully maintained its position above the local bottom at $0.11, demonstrating resilience against the broader market trend. 
The bullish turnaround has uplifted the asset by 11.6% within a month reaching $0.123, while the market cap reached $10.73 Billion. An analysis of the daily chart shows the recovery is carried by an ascending trendline intact since mid-November 2023. 
<blockquote>
 The altcoin rebounded multiple times from this support indicating an active accumulation trend among market participants during the market dip.
</blockquote> 
According to a tweet by crypto analytics firm IntoTheBlock on June 26, 2024, the number of active addresses on the TronDAO network has been steadily increasing since the beginning of the year.&nbsp; 
<blockquote class="twitter-tweet"> 
 Since the beginning of the year, the number of active <a rel="nofollow" href="https://twitter.com/trondao?ref_src=twsrc%5Etfw">@trondao</a> addresses has steadily increased, approaching a daily average of 2.5 million, far surpassing other leading Layer 1 networks <a rel="nofollow" href="https://t.co/TCiatVqVOM">pic.twitter.com/TCiatVqVOM</a> 
 — IntoTheBlock (@intotheblock) <a rel="nofollow" href="https://twitter.com/intotheblock/status/1805996379979846083?ref_src=twsrc%5Etfw">June 26, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The daily average of active addresses is now approaching 2.5 million, a figure that significantly surpasses other leading Layer 1 networks. This surge in active addresses underscores the growing adoption and usage of the TronDAO network. 
Also Read: <a href="https://coingape.com/robert-kiyosaki-decodes-bitcoin-banana-zone-contrasts-with-fiat-currency/">Robert Kiyosaki Decodes Bitcoin’s “Banana Zone”, Contrasts with Fiat Currency</a> 
With sustained buying, the coin buyers could challenge the last swing high resistance of $0.127. If the resistance flips into a potential support, the Tron coin jump above 12% to hit the resistance of $0.143 
While this week has eased the selling on altcoins as BTC stabilizes above $60000, the bearish momentum has not yet reverted indicating the possibility of further fall. Thus, the TRX price could revisit the ascending trendline and seek support for the next jump. 
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical Indicator:</h2> 
<ul> 
 <li aria-level="1">Exponential Moving Average: The TRX price reclaiming the daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">Exponential Moving Average</a> (20, 50, 100, and 200) indicates the restoring bullish sentiment.</li> 
 <li style="font-weight: 400;" aria-level="1">ADX: An uptick in the ADX slope indicates the buyers are gradually picking up the momentum.</li> 
</ul> 
The post <a href="https://coingape.com/markets/tron-price-analysis-trx-0-14-active-addresses-highs/">TRON Price Analysis: TRX Eyes $0.14 Breakout as Active Addresses Reach New High</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

TRON Price Analysis: TRX Eyes $0.14 Breakout as Active Addresses Reach New High

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