TRON Price Prediction: TRX Stables Around $0.128 – Where Is It Going Next?
Tron (TRX) has shown resilience amid the turbulent crypto market, holding steady at around $0.128. After dropping 14% to $0.11 on May 26, TRX has remained bullish, surging to $0.142 on July 12, a 29% price increase.
However, Tron's fortunes weren't all rosy, as the August 5 marketwide downturn pushed its price down to $0.116. The bulls have returned since August 6, forming green candles.
As of August 12, 2024, TRX oscillates around $0.128, reflecting a slight decline over the past 24 hours. Tron (TRX) is up more than 7% in the past week.
Given the slightly bearish market outlook, will Tron resume its rally soon? For more insights, consider the following price analysis.
TRX Price Analysis Using Technical Indicator
TRX's price sits below its 50-day SMA, and this line may act as resistance, hindering price increases. TRX must break above this level to turn bullish.
The MACD line (-0.00120) is below its signal line (-0.0010), indicating intense bearish pressure. Further, the SuperTrend Indicator also signals sell, supporting this bearish sentiment.
However, the RSI at 47 suggests neither overbought nor oversold conditions. This neutral reading indicates indecisiveness and cautiousness among market participants.
These indicators suggest the downtrend may continue, but they also signal potential trend reversal should investors buy the dip.
Tron (TRX) Trades Below Critical Price Levels; What's Next?
TRX trades below a bearish trendline, reinforcing the negative outlook. A break above this line could signal bullish momentum.Another strong resistance level sits at $0.130. If buyers push the price above $0.130, TRX might reach its $0.140 high.
Conversely, failing to break the bearish trendline, TRX may test lower support levels. The support levels at $0.120 and $0.116 could provide the foundation for an uptrend.
TRON's User Growth: A Beacon of Hope for TRX"Daily new addresses increased for the third straight quarter, up 12% QoQ from 177,200 to 198,000." - @MessariCrypto
We're looking forward to onboarding even more #TRONics!
More details from @Benzinga:
https://t.co/9Y65gGguCr pic.twitter.com/phsk7pQmRd
- TRON DAO (@trondao) August 9, 2024
TRON has recently witnessed a significant increase in network activity. According to a recent X post, daily new addresses grew by 12%, from 177,200 to 198,000, for three consecutive quarters, starting Q4 last year.
Another X post revealed that TRON was among the few smart contract platforms that witnessed increased on-chain activity in Q2.
"#TRON was one of the few smart contract platforms that saw increasing levels of on-chain activity in Q2."
June had the most transactions (202.6M) of any month in 2024!
More details from @MessariCrypto
- TRON DAO (@trondao) August 9, 2024
This growth indicates rising interest in the TRON network. More users could mean increased demand for TRX tokens, which drives price growth.
TRON Partner with Butter Network#TRON joins forces with @ButterNetworkio!
With this integration, cross-chain asset exchange becomes more fluid, pushing forward the expansion of our DeFi ecosystem, particularly for stablecoins.
Details
- TRON DAO (@trondao) August 9, 2024
TRON recently partnered with Butter Network to enhance cross-chain asset exchange and expand TRON's DeFi ecosystem, focusing on stablecoins.
The integration will make it easier to move assets between different blockchains. Moreover, it could significantly benefit TRON and its native token, TRX. By improving cross-chain functionality, TRON becomes more versatile and user-friendly.
While TRON shows promise with its growing user base and strategic partnerships, investors may want to explore alternatives to diversify their portfolio and increase earning chances.
Pepe Unchained (PEPU) has gained significant traction among the potential TRON alternatives in the crypto market.
TRON Potential Alternative: Pepe Unchained ($PEPU)Pepe Unchained stands out among the numerous memecoinprojects in the market. The team behind Pepe Unchained has crafted a compelling narrative, blending meme appeal with solid tech fundamentals.
Pepe Unchained has raised more than $8.3 million in its presale, showing the rising investor interest in the project. Given its impressive presale performance and popularity, PEPU might be among the biggest meme coins in 2024.
But what makes Pepe Unchained unique? Why has it attracted such massive funds within a short time?
A Potential Alternative to TRONPepe Unchained isn't just another newcomer riding the success of the original Pepe coin; it's carving out its unique path. The project plans to build its own Layer-2 blockchain on Ethereum to tackle common issues like slow transaction speeds and high gas fees.
Pepe Unchained is positioning itself as a practical alternative for everyday crypto use by promising faster and cheaper transactions. This impressive feat speaks volumes about investor confidence, especially in a market with useless coins with zero utility.
Another very attractive feature of Pepe Unchained is its staking program. Early investors can earn good rewards, with current APY rates soaring above 230%.
This high yield potential attracts investors looking to maximize their crypto investments.
Moreover, Pepe Unchained's tokenomics are remarkable. It allocated only 20% of its token supply for presale, 30% for staking rewards, 20% for marketing, 10% for liquidity, and 10% each for building chain infrastructure and ecosystem development.
With a clear allocation plan and focus on long-term growth, the project aims to avoid the pitfalls plaguing other memecoins. All these features make Pepe Unchained an intriguing alternative in the crypto industry.
For those intrigued by Pepe Unchained, the ongoing presale offers a chance to get in early. The project is only a few inches from reaching its $8.4 presale target, so fast action is advised. Each $PEPU coin currently trades at $0.0090178, with less than a day until the price increases.
Moreover, with the crypto market showing signs of recovery, this could be an opportune moment to explore new options. To participate in the $PEPU presale, visit the project's website and purchase the coins.
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