TRX Price Up As Tron Rolls Out The Red Carpet For Trump-Backed Stablecoin
Tron’s blockchain has launched a USD1 stablecoin from World Liberty Financial Inc., boosting interest in TRX. The token rose 6% to approximately $0.2920, facing resistance at $0.2980. A breakthrough could target $0.3230, with support at $0.2808 and the 23.6% Fibonacci level at $0.2645. The stablecoin's launch is linked to notable figures, including US President Donald Trump, which has attracted attention to Tron’s ecosystem. The total value locked on Tron exceeds $5 billion, with 4.50 million returning user addresses noted. TRX derivatives open interest increased by 8.25% to $329 million, indicating bullish sentiment. Technical indicators show rising buying pressure, with the RSI nearing overbought levels and a positive MACD crossover. Market dynamics suggest that Bitcoin's performance will influence TRX's trajectory, with potential for a breakout driven by the stablecoin launch and positive market signals.
