TRON (TRX) Outpaces Ethereum & Solana in Fees: Is a Breakout to $0.40 Imminent?

TRON (TRX) is making waves in the crypto space, surpassing both Ethereum and Solana in daily transaction fees. Generating an average of $1.86 million per day, TRON’s increasing adoption signals strong fundamentals that could pave the way for a bullish breakout. But can TRX overcome resistance and hit $0.40 in April?

TRX Price Outlook: Consolidation with Bullish Potential

TRX is currently in a neutral to slightly bullish consolidation phase. A medium-term uptrend could develop if resistance levels break. Long-term, TRX remains bullish, supported by increasing adoption and transaction volume.

Key Support Levels:

• $0.22 – 200-day SMA, a crucial support level.
• $0.20 – Historical demand zone, acting as strong support.

Key Resistance Levels:

• $0.25 – A pivot level that must be broken for further gains.
• $0.30 – The next breakout level before a potential rally toward $0.40.

Momentum Indicators: Signs of Strength

• RSI: 58, indicating moderately bullish momentum.
• Trading Volume: Up 9.4% in the past week, signaling growing interest.

TRON’s On-Chain Data and Market Sentiment

• Total TRX Addresses: 290.4 million+, growing at 2.1% monthly.
• Daily Active Users: 1.5 million+, a 5.3% increase MoM.
• Transaction Volume: Approaching 10.2 billion daily, up 8.5% MoM.
• Whale Transactions ($500K+): Up 12% MoM, showing institutional interest.
• Monthly Fee Revenue: $53.16 million, higher than Solana and Ethereum.
• Social Engagement: Up 7.2% WoW, reflecting growing community interest.

Will TRX Hit $0.40?

Rising network fees, increasing whale accumulation, and strong user adoption create a bullish setup for TRX. However, breaking and holding above $0.30 is crucial for a move toward $0.40. A drop below $0.22 could lead to a retest of $0.20.

TRON’s Growth and Recent Developments

TRON continues to innovate, recently launching AI-integrated features on the Sun Pump platform, enhancing automation and network efficiency. Additionally, a partnership with leading crypto exchange Bitget further strengthens TRON’s ecosystem, increasing adoption and liquidity.

Suggested Trading Strategy for April:

• Buy Zone: $0.22 – $0.23 (200-day SMA support).
• Profit Targets: $0.25, $0.30, $0.40.
• Stop Loss: $0.18.
  
  

Also Read: Aptos (APT) Holds Strong: Key Support Levels and the $7.00 Breakout Potential

With whale activity growing and volume increasing, traders should watch for a breakout past $0.30 for potential upside continuation. TRON’s strong fundamentals could make a run to $0.40 a real possibility in the coming weeks.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.