On April 20, 2025, the price of TRON ($TRX ) experienced an increase of 0.66% in the last 24 hours, trading in the range of $0.245. This increase was driven by several key factors that boosted market sentiment towards TRX.
1. TRON's Dual Strategy: TRON founder, Justin Sun, announced a dual strategy focusing on the development of the DeFi and NFT sectors. This strategy attracted investor interest and increased trading activity on the TRX/BTC, TRX/ETH, and TRX/USDT pairs.
2. Increased Investor Interest: Data from Binance Futures indicates a 90% increase in open interest on the TRX/USDT pair, reaching $300 million. This shows that investors are actively positioning themselves to capitalize on the upward price momentum of TRX.
3. Bullish Engulfing Pattern: Technical analysis shows a bullish engulfing pattern on the weekly TRX chart, indicating strong positive momentum and the potential for a continuation of the upward trend.