TRON (TRX) continues to build momentum with real strength. As of today, TRX trades at $0.299, marking a 1.28% drop over the last 24 hours, as per CoinMarketCap data. It has still risen 4.188% over the past week, showing strong underlying momentum.
Despite this slight retracement, the cryptocurrency is riding a very strong bullish trend supported by robust technical indicators. With a 52-week range of $0.16 to $0.43, TRX is consolidating its position near critical resistance levels.
Despite a 23% dip from yesterday’s volume, TRON still commands a daily trading volume near $1.9 billion. The liquidity surge reflects strong market depth and user confidence. Its market cap stands at $28.33 billion, with its unlocked market cap slightly higher at $29.9 billion.
DeFi growth and ecosystem strength
TRON currently has more than $8.1 billion of DeFi assets, a 182% year-over-year jump. It reflects strong action in lending, yield farming, as well as decentralized applications within the TRON ecosystem.
TRON’s consistently high trading volume and strong DeFi performance point to sustainable growth. Its top 10 market cap ranking is a testament to its durability as well as end-user confidence, cementing it as a force in the maturing crypto world. As the world of Web3 continues to grow, TRON is building a solid and scalable foundation.
Technical outlook favors breakout potential
Technically, TRON’s approach is extremely bullish in case this $0.32 resistance is reversed, as an analyst posted on X. Weekly structure is still positive with one successive pullback being followed by bounceback phases, indicating a solid uptrend.
Breaking above the main 0.618 Fibonacci retracement with support remaining in place above $0.30 can initiate a new surge up targeting its 52-week high of $0.46. Heading into Q3, one of the large-cap altcoins’ most stable long-term trends is that of TRON.
Without being front of headlines, it is steadily outperforming peers. With the confirmed cup and handle breakout in place, it lends credence to the current setup, with a push towards $0.38 likely. If momentum is sustained, a move back towards the year high is increasingly realistic.
