2024

TRON

Melon

Daily

<p><strong>TRX</strong> was among the few crypto assets that exhibited significant increases through June and then remained strong during the early July selloff.</p> 
<p>This week, the coin climbed above the significant moving averages and marking a positive trajectory. Amidst the bearish market moves, the coin gained traction and continued to rise. It is eyeing the primary cluster of $0.1500.</p> 
<h2 class="wp-block-heading" id="h-tron-trx-exhibited-strength-on-daily-chart"><strong>TRON (TRX) Exhibited Strength on Daily Chart</strong></h2> 
<p>For the past two months, <strong>TRX </strong>was between $0.120-$0.150. Last week, it rose over 12%, making a golden crossover.</p> 
<p>At press time, <strong>TRON </strong>was trading at $0.1342 with an intraday surge of 2.96%, reflecting bullish momentum on the chart. It has a monthly return ratio of 14.300% and 73.20% yearly, reflecting a short term uptrend.</p> 
<p>TRX/BTC is at 0.00000230 BTC, and the market cap is $12.04 Billion. Analysts are neutral and suggest that <strong>TRX </strong>may register a range breakout and retain the mark of $3.</p> 
<p>Generally, a long<a href="https://www.thecoinrepublic.com/2024/07/03/supply-on-steady-decline-trx-holders-on-rise-can-it-hit-0-20/"> <strong>consolidation breakout</strong></a><strong> </strong>has massive upper targets, the primary hurdle being placed at $0.1500, followed by $0.180 which could be tested by the bulls shortly.</p> <iframe loading="lazy" title="Santiment Chart: Price (TRX), Volume (TRX)" width="800" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Btron%3BTRX%5D%3B%5B1%3Bvolume_usd%3Btron%3BTRX%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p><strong>RSI curve</strong> was in the overbought zone, displaying an uptick, reflecting the chances of follow-on buying ahead.</p> 
<p>Interestingly, it showed a negative price correction of 0.66 with BTC, implying that, during the selloff in BTC, significant traction was gained by the TRX coin, which happened in the last few weeks.</p> 
<p>Since June, Bitcoin (BTC) saw a retracement of over 17% from $70k, while TRX coin has gone opposite to it and surged over 20% in the last 20 trading sessions. This significant jump boosted investor confidence to hold TRX in the bearish market.</p> 
<h2 class="wp-block-heading" id="h-surge-in-popularity"><strong>Surge in Popularity</strong></h2> 
<p>Following the price rise, its social dominance data exhibited a sharp spike, soaring over 75%, revealing the increased investor interest on social media platforms.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (TRX), Social Dominance (TRX)" width="800" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2024-01-11T18%3A29%3A59.291Z&amp;dt=2024-07-11T18%3A29%3A59.291Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsentiment_volume_consumed_total%3Btron%3BTRX%5D%3B%5B1%3Bsocial_dominance_total%3Btron%3BTRX%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Furthermore, the weighted sentiment data revealed intense fluctuations and showed a dip, signifying the speculative move. Data from IntoTheBlock indicated that over 96% of its holders were profiting.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcDsszzPEAwHUPu423OVopWCTSoQWo8ukZzvIKcy-_OVKnF9fqRxNxnZ50Z92scQ30XMkQchSBXPs8gzbtjzUw11ywlXldaCDxgDE0wuxOUDkjFOHZlkcRrrx6STTuOAB8HQjaAYMmbRkCQcP-TQ61FXnn5?key=qZtkrqHuQwk9TuyWu7xxJQ" alt="">
 <figcaption class="wp-element-caption">
  GIOM Data&nbsp; Source: IntoTheBlock
 </figcaption>
</figure> 
<p>Going forward, the buying pressure and positive sentiment signifies the up move was genuine and the TRX coin could resume the bullish wave ahead. Its daily and weekly charts gave a crystal clear breakout and outperformed the crypto market.</p> 
<h2 class="wp-block-heading" id="h-growth-in-new-addresses-nbsp"><strong>Growth in New Addresses&nbsp;</strong></h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcTVa0NuvZ5kTE-pNikzzvgrHliom30-AUp6HXx--7qPI5CBWEI8VvB4BK30KGyGaVbQnYVbTHAoz5UHm3zj8Eiopv-WN0XYX0tOPc92wtuOPy5LLI3WTejfd9n7Bu2m9UMYJCMGNWOnopnD-I8Xi5in6on?key=qZtkrqHuQwk9TuyWu7xxJQ" alt="TRX">
 <figcaption class="wp-element-caption">
  Total Addresses Data &nbsp; Source: IntoTheBlock
 </figcaption>
</figure> 
<p>Since June, the total number of addresses and new addresses significantly increased. In a recent tweet, Justin Sun, the creator of TRON, conveyed optimism for the coin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bullish news for <a href="https://twitter.com/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRX</a>. <a href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw">#TRON</a> <a href="https://t.co/6yEy7WCNMG">pic.twitter.com/6yEy7WCNMG</a></p>— Melon Husk 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f349.png" alt="🍉" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Melooooooooons) <a href="https://twitter.com/Melooooooooons/status/1811058943411486834?ref_src=twsrc%5Etfw">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Per the Fib levels, the coin trades above the 50% zone and is still below the 61.8% zone which stays near $0.1500.</p> 
<h2 class="wp-block-heading" id="h-total-liquidations-chart"><strong>Total Liquidations Chart</strong></h2> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf81s-K3hiy4tH1zwwAGnAZK9OGfYXLchuQLJlXTr34r2XvR1oX6ZuT0_FgfAOAAXm49w__nwBmQ3wI0jJfUz9Kbh5WZkADrcSMwXhU84Rc8IKZY7yzOGlHJ1SzloIYA1KobpzQYoBctphWdViXkfSVQXAX?key=qZtkrqHuQwk9TuyWu7xxJQ" alt="TRX">
 <figcaption class="wp-element-caption">
  Total Liquidity Data&nbsp; Source: Coinglass
 </figcaption>
</figure> 
<p>At the time of writing, the short liquidations were at $135k, while the long liquidations were only $18k, signifying the bullish trend. The immediate support levels for the <strong>TRON </strong>are $0.1300 and $0.1230, whereas the key upside hurdle is around $0.1450 followed by $0.1500.</p> 
<p><strong>TRON </strong>climbed above the significant moving averages, reflecting bullish momentum on the chart. Moreover, the trend is bullish and the coin could persist in ascending the bullish rally ahead.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/12/trx-sees-breakout-will-the-breakout-push-it-to-0-1500/">TRX Sees Breakout: Will The Breakout Push It To $0.1500?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

TRX Sees Breakout: Will The Breakout Push It To $0.1500?

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Thecoinrepublic.com

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