According to the materials of the site - By CaptainAltcoin
TRX Bulls are gaining momentum again as the price of TRON approaches the breakout zone after staking $100 million and sharp activity in the network
TRON is starting to rise again this week, with the price of TRX approaching the breakout zone. At the same time, some major moves behind the scenes, especially from SRM Entertainment, are drawing attention back to the TRON ecosystem.
According to BSC News, SRM has just launched a massive TRON treasury strategy worth $100 million. As part of this plan, they have already placed 365 million TRX on the JustLend platform. This push came shortly after TRON founder Justin Sun joined SRM as a strategic advisor, further enhancing this move.
– SRM Entertainment launched a TRON treasury strategy worth $100 million, placing over 365 million TRX on the JustLend platform.
The new chairman of SRM, Vaike San, says the goal is to earn up to 10% annual returns on staked TRX. And it's not just about staking; the company is going all in. They secured strategic financing of $210 million and invested $100 million in equity to expand their TRON assets.
CEO Rich Miller called TRON a leader in cross-border payments using dollar-pegged stablecoins, stating that it is a sensible choice for shareholders. In addition, the team plans to rename the blockchain called 'Tron Inc.', making it clear that this is not just a short-term play, but a long-term commitment.
The growth of the TRON network strengthens long-term sustainability
On June 27, leading analyst Crypto Patel described TRON (TRX) as one of the most undervalued layer 1 platforms. In a post on X, he detailed the growth in daily transaction volume, which has doubled from 5 million to 9 million since September 2023. Patel also mentioned the rise in gas fees as a factor in the demand for TRX, as fees on the network are paid in TRX.
He noted that TRON remains the leading chain for USDT transfers and maintains low transaction costs. With a success rate of over 96%, the network continued to attract users through various market cycles.
According to the TRON 4H chart, TRX is trading around $0.2787. It remains slightly below the descending trend line since early June and is testing resistance between $0.282 and $0.294. This area has served as a strong rejection point in previous attempts.
TRX is receiving some support from the 50-period EMA, which is right around $0.2750. The RSI has risen to 63.72, indicating that bullish momentum is gaining strength, but we still need to see a clear breakout. If TRX can rise above $0.282 and hold, it may be on its way to $0.30. On the other hand, if it gets rejected again, there is decent support waiting between $0.26 and $0.262.
Traders are also waiting for a strong close above the trend line with some solid volume to support it. If the bulls manage to reclaim $0.294, it could provide the confirmation needed for the TRX price to enter a more sustainable upward trend. For now, the range from $0.26 to $0.282 is where most of the action is happening.
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