$0.17275 11.95%
TRX · 4w

TRON Technical Analysis — Will TRX Regain Former Glory and Hit $1? - CoinQuora

TRON is a blockchain ecosystem that allows smart contracts and DApps. TRON may be a risky investment in the short term but may prove profitable in the long term. TRX needs to turn the resistance at the $0.06 Fibonacci level into support.

This TRON price analysis article will only focus on technical analysis. While we may mention fundamentals, the final verdict will only be based on price patterns and technical indicators.

The crypto market continues to grow amid increasing volatility. While the overall market continues to gravitate toward the bulls, we can see that other cryptocurrencies are already losing their gains from the past months.

Interestingly, TRON has somehow been one of the cryptos that have experienced the latter. Prior to the DeFi boom, it was one of the top cryptocurrencies on coin listing sites such as CoinGecko and CoinMarketCap. However, many have overtaken it and there’s no telling when TRON may regain its former glory.

However, the reason for this is that many cryptocurrencies gained in market capitalization, while TRON remained comparatively stagnant. To be precise, TRON did not really experience a bear market; the overall market just gained too much in such a short period.

With this, let us take a closer look at TRON in this TRON technical analysis article. But for those who may not be one of the crypto OGs, let us have a little background about the subject.

What Is TRON?

TRON is a blockchain ecosystem that functions much like Ethereum. Specifically, TRON allows developers to create and execute smart contracts and decentralized applications (DApps).

Led by CEO Justin Sun, TRON is one of the most popular blockchain alternatives to Ethereum. In fact, it also made a foray into decentralized finance (DeFi), enabling liquidity protocols and borrowing/lending platforms.

Since 2020, TRON has been striving to catch up with Ethereum in terms of DeFi adoption. However, it seems to have been ecli...

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