Tether’s $1 Billion Injection Sparks Tron rally: Targeting $0.40

Tron (TRX) is holding steady following a chaotic weekend for the cryptocurrency market. Currently hovering near $0.24, the token has seen a slight drop of just 0.91% in the past 24 hours. Despite the lack of significant price movement, analysts are closely monitoring the situation for signs of a potential breakout, with a target of $0.40 coming into focus.

Further Insights

Price Movement Between Key Ranges

TRX has been trading within a range of $0.21 to $0.2551. This lateral price trend has persisted for several weeks, following a decline from $0.45 to $0.21 by year-end. The token appears to have stabilized since its drop. Buyers are showing strength at the $0.24 level, which aligns with the 50-day Exponential Moving Average (EMA).

Key EMAs—specifically the 50-day, 100-day, and 200-day—are positioned in a bullish configuration, reinforcing the possibility of an upward movement. The longer TRX remains above these support zones, the higher the likelihood of a breakout from this price range.

Indicators Show Growing Strength

From a technical perspective, the Moving Average Convergence Divergence (MACD) is signaling a potential shift. The MACD line and the signal line are converging in the positive territory, which often indicates rising momentum.

Should buying volumes increase, analysts anticipate that TRX will surpass the $0.2551 resistance and aim for $0.28, which corresponds to the 23.6% retracement level on a trend-based Fibonacci analysis. If this trend continues, TRX may reach the 50% Fibonacci mark at approximately $0.39, just shy of the anticipated $0.40 threshold.

1 Billion USDT Issued on Tron

Support for the bullish outlook is emerging from activities within the Tron ecosystem. Tether has issued an additional $1 billion in USDT on the Tron blockchain. Since April 28, Tether has minted a total of 4 billion USDT on both Ethereum and Tron combined.

New USDT issuance typically signals heightened market activity. As these tokens are utilized for trading, swapping, and capital transfers, the increase in USDT on Tron may indicate rising demand for TRX—though this remains speculative.

Further Insights

Tron Surpasses Ethereum in Revenue Generation

Recent data from analyst Ted Pillows indicates that Tron accounts for nearly 25% of the total network economic value, while Solana approaches 42%. Interestingly, Tron’s revenue generation has eclipsed Ethereum’s, contributing 16% of the overall network revenue.

According to TronScan, the number of accounts on the network has surpassed 304 million, with the total value locked (TVL) across various Tron platforms exceeding $20 billion.

Whether TRX will reach $0.40 in the near term will largely depend on its behavior at the $0.25 resistance level. Presently, price movements, technical signals, and overall ecosystem development all seem to align in a bullish direction.