Tether’s $1 Billion Mint Powers Tron — Is A Breakout Brewing?
Tron (TRX) is currently priced around $0.24, experiencing a slight decline of 0.91% over the past day. The token has been consolidating between $0.21 and $0.2551 after a drop from $0.45 last year. Buyers are showing resilience at the $0.24 level, which aligns with the 50-day Exponential Moving Average (EMA). The 50-day, 100-day, and 200-day EMAs are in a bullish alignment, suggesting a potential upward move. The Moving Average Convergence Divergence (MACD) indicates increasing momentum, with analysts predicting a breach of the $0.2551 ceiling towards $0.28 and possibly reaching $0.39. Tether has minted an additional $1 billion USDT on the Tron blockchain, signaling increased market activity that may boost TRX demand. Tron holds nearly 25% of the overall network economic value, with its revenue chain surpassing Ethereum's at 16%. The total number of accounts on Tron exceeds 304 million, and the total value locked across its platforms has surpassed $20 billion. Future price movements will depend on TRX's behavior around the $0.25 resistance level.
