Tron Price Analysis: TRX Buyers Face Tremendous Resistance At $0.15

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
2 Min Read
  • Tron price sentiment is still positive as per MACD.
  • The RSI has dipped back into the neutral zone following correction.
  • Since March 26, the Tron price has nearly tripled in price, going up from $0.055 to $0.145. So, has TRX reached its top or is there more growth in the horizon? Let’s take a look.

    Tron Price Struggle At $0.15

    Over the last ten days, the Tron price has faced rejection thrice at the $0.25 resistance barrier. The MACD shows sustained bullish market momentum, so the overall sentiment is positive.

    Image: TRX/USD daily

    Now, when you look at the 4-hour Tron price chart, we can see the recent dip has taken the relative strength index (RSI) from the edge of the overbought zone to the neutral territory. This shows that TRX may consolidate for a bit before making a jump.

    Image: TRX/USD 4-hour

    USDT Issued On Tron To Surpass Ethereum

    The amount of Tether (USDT) issued on Tron (TRX) is about to surpass that of the tokens issued on Ethereum (ETH). TRON CEO Justin Sun took to Twitter to share the news. 

    Currently, there’s $23.4 billion worth USDT on Ethereum and $21.9 billion worth USDT on TRON. The latter is $1.422 Billion worth USDT away from equaling that issued on the Ethereum blockchain. It appears that the TRON network can achieve this feat shortly as it continues to attract new users. The platform has witnessed increased activity thanks to its lower fees and faster speed when compared to Ethereum. 

    Activity on the Tron network has been constantly high, with the blockchain processing roughly 2 million transactions daily since the beginning of 2021. In the same period, Ethereum has handled approximately 1.25 million transactions daily since the year began. 

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely consolidate around $0.145 before making a jump to $0.15.