Tron Bull

Bitcoin

Justin Sun’s Tron token is in a tight range as the ongoing crypto sell-off continues, with Bitcoin falling below $60,000. 
Tron (<a href="https://crypto.news/price/tron/" target="_blank">TRX</a>) was trading at $0.1542, just a few points below its highest level this week. According to <a href="https://www.coingecko.com/" target="_blank" rel="nofollow">CoinGecko</a>, it is the ninth-biggest cryptocurrency with a market cap of $13.3 billion. 
TRX has outperformed other top ten cryptocurrencies in the last seven days as it rose by 0.97%. Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>), Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>), and Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>) have retreated by 6.2%, 10.6%, and 10.5% in the same period. 
Tron’s ecosystem is not doing well, with most meme coins in the recently <a href="https://crypto.news/tron-price-rises-as-sunpump-meme-coins-dive-heres-the-latest/" target="_blank">launched SunPump ecosystem</a> falling by double-digits. Sundog (<a rel="" href="https://crypto.news/price/sundog-2/">SUNDOG</a>), the biggest token in the ecosystem, has dropped by nearly 30% in the last seven days. 
 You might also like: <a rel="" href="https://crypto.news/solana-price-nears-death-cross-as-weekly-dex-volume-rises-46/"> Solana price nears death cross as weekly DEX volume rises 46% </a> 
Similarly, Tron Bull Coin, Muncat, Suncat, and Vikita have fallen by more than 30% in the same period. The only SunPump meme coins doing well were Tron Bull and Tron Beer, which have jumped by over 16% and 40%.&nbsp; 
Other parts of the Tron ecosystem are not doing well. For example, the total value locked in its <a href="https://crypto.news/understanding-defi-and-its-uses/" target="_blank">DeFi </a>ecosystem has <a href="https://defillama.com/chains" target="_blank" rel="nofollow">dropped</a> by 6.8% in the last 30 days to $7.6 billion, making it the second-biggest network after Ethereum.&nbsp; 
Tron’s DEX volume has also moved to $425 million, making it the 9th biggest player in the industry. It has been passed by newer chains like Sui and Base, which handled $700 million and $4.5 billion in the last seven days.&nbsp; 
Still, Tron has many positives. It has become the market leader in the stablecoin payment industry. Data by <a href="https://tronscan.org/#/token20/TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t" target="_blank" rel="nofollow">TronScan</a> shows that its Tether transactions rose by 9.75% on Oct. 2 to $70 billion.&nbsp; 
Tron is also the most profitable chains in the crypto industry, with over $1.37 billion in fees this year. Its third-quarter revenue rose to $577 million, higher than Bitcoin and Ethereum. 
<h2 class="wp-block-heading" id="tron-price-has-stalled">Tron price has stalled</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/Tron-Price.png" alt="Tron price" class="wp-image-14301468">
 <figcaption class="wp-element-caption">
 Tron price chart | Source: <a href="https://www.tradingview.com/symbols/TRXUSD/?exchange=BINANCE" target="_blank" rel="nofollow">TradingView</a>
 </figcaption>
</figure> 
Tron rose to a record high of $0.1690 on Aug. 26, and has dropped by 8.83%. It has remained above the 50-day and 25-day Exponential Moving Averages, meaning that bulls are in control for now. 
However, signs indicate that it has formed a bearish flag chart pattern, a popular risky sign. If this pattern works out, Tron will likely slip to the key support at $0.1450, the highest swing in February this year. 
 You might also like: <a rel="" href="https://crypto.news/sunpump-market-cap-reaches-268m-as-sundog-fofar-suncat-tumble/"> SunPump market cap reaches $268m as Sundog, FoFar, Suncat tumble </a>

Tron price forms a bearish flag as SunPump meme coins crash

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