- Daily transactions surged over 30% since February, signaling increased on-chain activity and adoption.
- TRX trades in a narrow range between $0.2714 and $0.2748, suggesting a potential breakout is near.
- RSI, MACD, and histogram all point to sustained bullish momentum, with upside potential toward $0.2780 and beyond.
Activity on the Tron blockchain has been growing significantly in the past four months, with the average number of transactions every day crossing 8 million, according to the latest statistics. This is a significant jump from the approximately 6 million transactions per day seen in February, reflecting a growth of over 30 % in four months.
The increase is both in volume of exchange on transactions and in direct on-chain interactions, and that indicates more usage of the network for typical blockchain-based activity. That is a sign of growth in organic use and may indicate more integration of Tron into everyday digital finance operations.
Currently, TRX, the Tron network’s native token, is trading at $0.2736 with a slight 0.76% increase during the last 24 hours. The trading volume rose by 19.14% from the previous month, reaching around $488.27 million. The network’s market capitalization stood at $25.95 billion, placing Tron in the top ten among blockchain platforms by valuation.
TRX Trades in Tight Range as Market Awaits Breakout Signal
The price currently sits near its immediate resistance level of $0.2748, suggesting a key test for bullish strength. The support level is established at $0.2714, which has held firm during recent dips, reflecting underlying buyer interest at that price zone.
The 24-hour trading range between $0.2714 and $0.2748 shows that TRX is moving within a narrow consolidation band. A narrow trading range could signal a coming breakout, so traders are carefully looking for a change in direction.
If the price climbs above $0.2748, it may cause bullish moves, looking to reach the next influential resistance at $0.2780. But, if $0.2714 is surpassed, the price could drop back to $0.2685, a small support point noted in the price charts. Basically, the movement in price signifies that bulls want to push above the resistance level but bears are protecting the range’s top.
Technical Indicators Signals Growing Bullish Momentum
The RSI is currently at 58.13, indicating a neutral to mildly bullish trend. Additionally, the MACD line is trading above the signal line, reinforcing bullish momentum. The presence of a positive histogram further supports the view of a sustained bullish divergence in the market.
June Bullish Outlook for TRX
If TRX can break through the important resistance level of $0.2748 on high volume, it could target reaching $0.2780 by today’s close. However, if selling momentum increases and the price falls below $0.2714, TRX will drop further to $0.2685.
According to data from Coincodex, TRON (TRX) has increased 11.02% in the past month, and with summer closing in, its price will rise to approximately $0.3266. Price prediction for the next interval places it in a $0.2731 to $0.3500 trading interval with a potential average of $0.3266. This forecast is a potential 28.24% upside, which corresponds with an overall positive sentiment for the next month.
