Bittime – The TRON blockchain reached 228 million accounts as of May 5, 2024, according to Tronsac's latest data. TRON's achievements raise the question, what's next?
Market Activity and TRX Steady Rise
TRX Price Chart: CoinMarketCap
Currently, TRX is trading at $0.1216, showing a steady increase of 2.54% in the last day and 2.59% over the previous week, indicating a consolidation phase.
With a market capitalization of $10.6 billion, TRX occupies 13th place in the crypto hierarchy.
The 24-hour trading volume saw an increase of 11%, reaching $349 million.
TRON Mainnet Success and DAO Evolution
Since mainnet launch on May 31, 2018, TRON has successfully processed more than 7.5 billion transactions, with a total value locked (TVL) exceeding $21.7 billion.
The network has evolved into a decentralized autonomous organization (DAO), directed by its dynamic community.
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Ecosystem Expansion and Future Aspirations of Ecosystems
TRON has experienced exponential growth, playing an important role in various sectors such as NFT , DeFi , GameFi , stablecoins, metaverse, cross-chain solutions, DID, AI, and RWA.
In the future, TRON aims to create a metaverse-based financial free port, to increase accessibility for its users around the world.
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Stablecoin Domination on TRON
Data from Messari reveals an 8% quarter-on-quarter increase in stablecoin market capitalization on TRON, which now stands at $53.1 billion. This surge strengthens TRON's position as the dominant force in stablecoin transactions.
Technical Analysis: TRX Price Movement
TRXUSD Daily Chart: TradingView
Currently, TRX price is in a consolidation pattern, stuck between the rising trend line and the resistance level at $0.1240. Despite this, the price continues to show a bullish stance, supported by an ascending trend line from just two days before.
The price seems poised to break the $0.1240 resistance zone once again.
A potential rejection would mark the fourth such occurrence since March 31, cementing this level as strong monthly resistance.
If this happens, TRX may retreat to the rising trend line, waiting for a more definite market direction.
Potential Bearish Scenario?
If bearish forces prevail and TRX falls below the rising trend line, the price could pull back to the $0.1155 support zone, in line with the right shoulder of the inverted head and shoulders pattern.
Short Term Predictions and Indicators
TRXUSD 4-Hour Chart: TradingView
RSI The 4-hour chart shows a bullish outlook for TRX, targeting the above $0.1240 zone. The market is looking for signs of rejection or breakout to provide a clearer directional signal.
With the RSI at 57, there is room for a test to the upside. In these shorter time frames, key levels will be watched closely for signs of market continuation or reversal.
Harga Tron (TRX) to IDR
According to Bittime Exchange the TRX to IDR price is at IDR 2,002.3 and over the last 24 hours it has increased by +2.07%
TRX to IDR via Bittime Exchange
Looking to the Future TRON (TRX) Price Prediction
There is upside potential to $0.2458 in Q4 2024 on TRX, supported by strong fundamentals and increasing adoption. As TRON passes its resistance and goes through a consolidation phase, market participants should remain vigilant, ready to act on bold price moves that could determine the path of this leading blockchain platform.
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How to Buy TRON (TRX) on Bittime
You can buy and sell TRON (TRX) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
TRON (TRX) is available on Bittime with the market pair TRX/IDR . To be able to buy TRX/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy TRON (TRX) on Bittime.
Monitor price chart movements of TRON (TRX) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read also:
Tron's Ambitions and Wallet Launch Plans
Not following the bearish trend, TRON actually rose 10%, what's the secret?
Tron Founder Believes AI, Robots, and Blockchain Will Work Together
Bitcoin Will Hit $150,000 or $500,000, Fundstrat CEO Predicts
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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