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TRON (TRX) Price Prediction for Today, October 12 – TRX Technical Analysis

TRON (TRX) Price Prediction for Today, October 12 – TRX Technical Analysis

InsidebitcoinInsidebitcoin2024/10/12 13:40
By:Insidebitcoin

TRON (TRX) is currently trading at $0.162, positioned just below its peak from the 2021 bull market. This recent surge signals a strong potential to revisit the heights seen during the 2017 rally following the project’s initial token sale. Unlike past rallies, this upward trend appears more sustainable, supported by gradually increasing daily trading volumes surpassing $305 million.

TRX Key Statistics

  • Current Price: $0.162
  • Market Cap: $14.07 billion
  • Trading Volume (24h): $383.26 million
  • Circulating Supply: 86.55 billion TRX
  • Total Supply: 86.55 billion TRX
  • CoinMarketCap Ranking: #9

Currently, TRX is showing strong momentum , with a 0.38% increase from its maximum price over the last 30 days and gains of 10.53% and 6.18% from its respective minimum prices over the last 30 and 7 days.

TRX/USD Market Analysis

Key Levels

Resistance: $0.169, $0.175, $0.180

Support: $0.155, $0.150, $0.140

TRXUSD -Daily Chart

The TRX/USD chart shows TRON testing resistance at $0.169 . A successful breakout above this critical level could set the stage for a test of $0.175 and potentially $0.180 in the short term. Both the Parabolic SAR and MACD indicators point to continued bullish momentum, with prices holding above key moving averages.

However, if TRX fails to break the $0.169 barrier, it could retrace toward the immediate support at $0.155, with additional support at $0.150 and $0.140, ensuring that the overall bullish structure remains intact.

Ecosystem Maturity: Is TRON Ready to Handle the Growing Demand?

TRON has demonstrated resilience against skepticism concerning its network traffic and the existence of fraudulent applications. It has successfully developed its own Web3 gaming ecosystem and DeFi projects, amassing a total value locked (TVL) of $7.40 billion. Notably, Tron’s own reports suggest a significantly higher TVL of over $16 billion, exceeding the asset’s market cap.

The network has also become a major player in USDT transactions, holding a supply of $61.79 billion, which accounts for approximately 50% of the total stablecoin supply. Additionally, more than 90% of USDT wallets were established on the TRON network.

2025 TRON (TRX) Price Prediction

The forthcoming launch of a native version of Wrapped BTC (WBTC) is poised to further bolster the TRON ecosystem. Justin Sun, the co-founder, continues to invest aggressively in the network during the bear market, promoting new tokens and emerging meme coins on the platform. However, the ecosystem faces challenges, including skepticism over insider trading, bot activity, and concerns regarding reserves and token generation

TRX/BTC Performance Insight

TRON (TRX) is trading at 0.00000259 BTC, with immediate resistance at 0.00000285 BTC, which was a past high. Support is found at 0.00000244 BTC. The Parabolic SAR indicates a bullish trend, with the price remaining above the indicator, while the MACD is also showing positive momentum, with readings above the zero line and green histogram bars suggesting sustained buying pressure. As market sentiment remains bullish, TRX may continue to see upward movement, potentially testing the key resistance levels soon.

TRXBTC – Daily Chart

On October 11th, the TRON Community announced on X (formerly Twitter) the burning of 10,136,282 TRX, demonstrating its commitment to deflationary practices and enhancing value growth. This initiative resulted in a net negative production ratio of -5,069,243, further emphasizing the platform’s focus on maintaining scarcity and supporting its ecosystem.

Alternatives to TRX

TRON (TRX) has established itself as a formidable player in the blockchain space, offering a scalable and efficient platform for decentralized applications. With its growing ecosystem of Web3 games and DeFi, TRON has demonstrated its ability to attract and retain users. Building upon the success of TRON, Pepe Unchained ($PEPU) is poised to disrupt the meme coin space with its innovative Layer-2 technology .

Offering a unique combination of meme culture and real-world utility, Pepe Unchained is well-positioned to capitalize on the growing demand for high-performance and cost-effective blockchain solutions. Its impressive presale, which has so far raised approximately $19 million, and staking app, offering estimated APYs of 130%, combined with its growing community and significant social media attention, make $PEPU a promising investment opportunity.

Introducing the Pepe Unchained Layer 2 Testnet

Pepe Unchained’s growing presence on X, with over 47,200 followers, demonstrates its ability to engage with a wide audience and build a strong online community . With its innovative approach, strong fundamentals, and potential for significant growth, $PEPU is well-positioned to become a leading player in the crypto market.

Visit Pepe Unchained .

Related News

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  • Should You Invest in Mog Coin Now, or Is Pepe Unchained the Better Buy With Its Presale Close to $19 Million?

 

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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