As Bitcoin fluctuates near the $84,000 mark, altcoins are facing an increase in price volatility. Tron, with a 24-hour surge of 2.66%, prepares to take off from the $0.25 level.
Following the recent consolidation range breakout, the TRX price trend prepares for a post-hit reversal. Will this reversal rally drive TRX prices to $0.29?
Tron Price Analysis Reveals Upside Potential to $0.30
In the daily chart, the TRX price trend showcases a bullish breakout of an overhead ceiling at $0.2494. This helps Tron reclaim the $0.25 psychological mark and give a consolidation range breakout.
Currently, the TRX price trend showcases a bullish engulfing candle formed with a 1.64% surge after an evening sharp pattern. The evening sharp pattern came as a retest of the daily breakout and now marks a post-retest reversal.
With the bullish trend gaining momentum, the MACD and signal lines grow in the positive trajectory. Furthermore, the rising green histograms support the possibility of an extended recovery.
Notably, the recovery run helps reclaim the 50-, 100-, and 200-day EMA lines and maintain a positive alignment. Based on the price action analysis, the Tron price is aiming to reach the immediate resistance at $0.2751.
Beyond this, the uptrend is likely to reach the $0.2971 price level, increasing the possibility of Tron reclaiming the $0.30 mark. On the flip side, the crucial support for Tron remains at the 50-day EMA at $0.2377.
Tron DAO Network Hits New Record Highs, Fuels TRX Price Rally
As Tron prepares for a bullish recovery, the network witnesses a massive growth. As per a recent tweet by IntoTheBlock, the total number of Tron DAO addresses has crossed the 130 million mark.
With the total number of addresses crossing a milestone, the Tron DAO is gaining credibility in the market. Furthermore, a recent report by Messari showcases strong performance of Tron in the first quarter of 2025.
In the first quarter, Tron has announced an upcoming gas-free USDT transfers that is likely to revolutionize the stablecoin transactions on the network. At a quarter-on-quarter level, the total revenue on Tron has increased by 2.7%, reaching an all-time high.
Furthermore, the daily active addresses have increased by 6.5%, while the USDT market share on the Tron network has jumped from 1% to 99.3%.
