Key Highlights:
- TRON crypto is set for a breakout move amid the formation of the symmetrical triangle pattern.
- Solana partnership may boost liquidity and adoption.
TRON (TRX) price is set for an upward move amid a partnership with Solana to boost liquidity and adoption. Besides positive developments, crypto analysts said TRX crypto could see a 516% rally from current levels.
At press time, TRON price was trading at $0.2280, noting an intraday drop of over 0.23%. Its market cap soared to $21.78 Billion, ranked 10th in the crypto market.
TRX Price Surge & TRON-Solana Integration
TRON’s founder, Justin Sun, announced that his platform would introduce TRX on Solana as part of a bullish initiative. The integration offers a new opportunity to increase user base while enhancing liquidity.
A collaboration between TRON and Solana’s robust decentralized finance solutions could significantly enhance the network’s capabilities. The partnership has the potential to generate substantial growth in market demand for both platforms.
TRX price experienced a 4.9% intraday surge of $0.22 upon the news announcement. The intense interest in TRX tokens spawned fraudulent implementation attempts on Solana by scammers. This experienced a 99% price collapse in a rug pull.
TRX has proven itself to be one of the most active blockchain networks. If TRX is integrated successfully, tapping into a large user base may trigger one more wave of price surges.
TRON continues to generate over $3 Million in weekly earnings and attracted $275 Million in monthly fees. The DeFi sector displays decreased activity. However, the token remains actively used for stablecoins transactions.
The TRON-Solana integration will enhance TRON’s position in the market. The planned integration with Solana allows the token to reach its upcoming primary price target.
TRON Price Prediction: Is TRX Ready for a Major Rally?
A recent post by Alpha Crypto Signal on X revealed that the TRX chart setup looks quite interesting. Despite the market headwinds, TRON price remained capped in a sideways pattern and displayed inherent strength.
It forms a symmetrical triangle pattern and could see a strong upward move. It showcased a strong recovery from the 200-day EMA support zone and was on the brink of a major breakout rally.
Furthermore, Javon Marks highlighted in his recent post on X that the long-term TRX price outlook maintains positive potential. The logarithmic-measured breakout target at $1.11 indicated the potential for a massive 516% price increase from current market levels.
The Global In/Out of the Money metric from IntotheBlock revealed interesting data. Approximately 73% of holders are profiting at the TRON price levels. At the same time, 27% of holders are experiencing unrealized losses.
Profitable holders of TRX accumulated within the $0.11 to $0.15 range. This range has become a noteworthy historical buying zone.
TRX price has approached the resistance level of $0.22. This could prompt some holders to sell, aiming to break even. As a result, potential selling pressure may emerge at this critical price point.
The immediate support zones were $0.2100 and $0.2000. On the other hand, the resistance zones were $0.2380 and $0.2500.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Ivan Petrov is a seasoned journalist with deep insights into Russia’s dynamic crypto landscape. His work focuses on market dynamics and the transformative potential of blockchain technology, making him a go-to expert for understanding Russia’s digital financial innovations.