- TRON founder Justin Sun announces TRX’s integration with Solana, aiming to tap into its liquidity and speed, sparking a 2% price surge.
- TRX price forms a descending triangle pattern, hovering above key support at $0.211, with RSI at 44.92 indicating bearish momentum.
- A breakout above $0.24 could send TRX toward $0.449, but failure to hold support may trigger a 23% drop to $0.16.
TRON price has jumped 2% in the last 24 hours to trade at $0.2235 as of 12:05 p.m. EST on a 8.3% increase in trading volume to $838.9 million.
The price spike comes as Justin Sun, founder of TRON, declares that TRX will soon integrate with the Solana blockchain. The move signals a bold move to tap into Solana’s robust liquidity and user base.
TRON Price Jumps 2% After Sun Announces Token to Launch on Solana
This strategic partnership has ignited speculation about TRON price trajectory for the year ahead, positioning TRX as a potential dark horse in the crypto race. The price of TRX jumped over 2% after Sun’s announcement on X.
TRON’s appeal lies in its role as a leading blockchain for decentralized applications (dApps) and content sharing, generating an impressive $51 million in fees over the past 30 days, as reported by Tron DAO.
Its delegated proof-of-stake (dPoS) mechanism and high throughput, capable of processing up to 2,000 transactions per second, make it a formidable player.
If TRON leverages Solana’s reputation for speed and low-cost transactions, the integration could attract new investors, bolstering TRX’s market presence and liquidity.
The Solana partnership positions TRX to challenge Ethereum’s dominance, especially as Solana widens its lead in transaction fees, per 2024 blockchain data.
TRX Price Risks 23% Drop if Bear Sentiment Persists
TRON price chart shows a descending triangle pattern, indicating a bearish continuation pattern. The price of TRX is currently trading at $0.2235 and is forming lower highs while holding above a key support zone near $0.211.
The TRX price action shows wicks rejecting lower levels, indicating buying pressure at support. However, overall price action suggests a struggle to break above the trendline. TRX price is trending near the 200-day simple moving average, a critical support zone as highlighted in the chart.
The relative strength index (RSI) is at 44.92, showing bearish momentum but not oversold yet. Although the volume increased by 8% over the last day, it is not strong enough to warrant a decisive breakout or breakdown yet.
On the upside, TRON faces resistance around the $0.234-$0.24 range, which coincides with the falling trend line. A successful breakout above this resistance level could pave the way for a retest of $0.449, marking the previous high.
Conversely, if the price breaks below $0.211, it may signal market weakness that could ignite further downward pressure, targeting $0.16 — a 23% drop from the current price. A deeper correction could see the TRX price find support lower, around $0.139.
Looking further ahead, long-term forecasts suggest TRX could maintain a floor of $0.179 in 2025 but peak at $0.325 in August, driven by increased adoption and cross-chain collaborations.
