Tron, the cryptocurrency that’s been quietly building its empire, is now making a bold move as TRX surges, fueled by a staggering 13 billion transactions and a wave of bullish trading signals. 🌊
This isn’t just a number; it’s a testament to the network’s growth and its growing influence in the global crypto landscape, especially in the bustling corridors of stablecoin transfers between Asia and Latin America. 🌍➡️🌎
As CryptoQuant contributor Darkost pointed out in a July 6 post, Tron’s (TRX) daily transaction count now averages over 8 million. A significant portion of this volume comes from Tether (USDT), which has transformed Tron into a lifeline for users navigating volatile currencies or limited access to traditional banking. 🏦➡️🌐
For millions in countries like Argentina, Tron isn’t just a cryptocurrency; it’s a parallel financial system where stablecoins are used to buy everything from bread to butter. 🍞🍞 The market is finally catching on to this practical application, and the bulls are starting to charge. 🏃♂️🐂
With a 10% increase in volume to over $326 million, TRX is currently trading at $0.2886, up almost 2% over the past day. The derivatives market is also showing signs of life, with a 2% rise in open interest and a 29% surge in trading volume, according to Coinglass data. This suggests that more traders are gearing up for a potential rally. 🚀📈
From a technical standpoint, TRX has reclaimed its short-term trendline and is trading along the upper Bollinger Band, a clear sign of rising momentum, especially when backed by strong volume. The price is comfortably above all major moving averages, including the 10-, 20-, 50-, and 200-day lines. 📊✨
The relative strength index (RSI) is hovering around 63, indicating a bullish market without venturing into overbought territory. The MACD’s upward-pointing signal line and continued positivity further support the idea that the bulls are in control. The gradual rise in momentum indicators and the supportive volume make a false breakout less likely. 📈💪
If TRX can break through the $0.29 resistance with ease, the next upward target is around $0.31, a level last seen in mid-June. However, if the price fails to hold above the 20-day moving average, which is currently acting as a cushion, a short-term retest of support near $0.2770 might be in the cards. 🤞💰
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2025-07-07 10:02