based on materials from the site - By crypto.news
Tron is gaining new momentum as TRX rises, supported by increasing transaction activity and increasingly optimistic trading signals.
The network has already processed over 13 billion transactions. This is a significant milestone that demonstrates both pure growth and an increasing role in the global use of cryptocurrencies, especially in stablecoin transfers between Asia and Latin America.
This figure was confirmed in a message from July 6 by CryptoQuant participant Darkost, who emphasized that the daily number of Tron (TRX) transactions now averages over 8 million. Most of this volume comes from Tether (USDT), turning Tron into a practical payment system for users facing currency volatility or limited access to traditional banking.
Tron is already a parallel financial system for millions of people in countries like Argentina, where stablecoins are used to purchase household goods. The market is beginning to reflect this practical application.
With a volume increase of 10% to over $326 million, TRX is currently trading at $0.2886, which is nearly 2% higher than the previous day. Activity is also rising on the derivatives side, as evidenced by a 2% increase in open interest and a 29% increase in trading volume, according to Coinglass data. This indicates that more traders are preparing for further growth.
From a technical perspective, TRX has regained its short-term trend line and is currently trading along the upper Bollinger Band, which is a sign of increasing momentum, especially with volume support. The price is above all major moving averages, which include the 10-, 20-, 50-, and 200-day averages.
The relative strength index, which is close to 63, indicates that the market is still optimistic, without entering the overbought zone. The rising MACD signal line and sustained positivity confirm the opinion that the bulls are still in control. The probability of a false breakout is lower as momentum indicators gradually rise and volume supports the trend.
If TRX can easily break through the resistance at $0.29, the next upward target will be around $0.31, a level that was last tested in mid-June. If the price cannot hold above the 20-day moving average, which currently serves as a safety cushion, a short-term retest of support around $0.2770 may occur.
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