TRX Skyrockets as Trump-Endorsed USD1 Stablecoin Launches on TRON Network

TRON''s native token TRX surges amid political and crypto market frenzy.

Trump-branded stablecoin enters the arena—just what the ''decentralized'' world needed.

Another day, another pegged asset pretending to solve volatility while lining pockets.

TRX TVLTRX TVL Data from CoinGlass also shows a significant increase in Optimism in the TRX derivatives market. Open interest surged by 8.25% in the past 24 hours, reaching $329.90 million.

TRX DerivativesTRX Derivatives Furthermore, the open interest (OI) weighted funding rate has risen to 0.0097%, reflecting bullish sentiment among derivative traders. Notably, short liquidations over the past 24 hours were nearly double the amount of long liquidations, indicating a major wipeout of bearish positions. Tron Price Analysis On the daily chart, TRX shows a bullish breakout above the intermediate resistance at $0.2860. It is now challenging the critical $0.2971 resistance level, which was marked by two peaks in December 2024.

Tron Price Chart Currently, TRX is trading at $0.2923. As the uptrend gains momentum, the daily RSI line approaches the overbought zone, reflecting strong bullish sentiment. Additionally, a recent positive crossover in the MACD and signal lines has triggered a resurgence in bullish histogram bars. These technical indicators support an optimistic outlook for TRX. A potential breakout above $0.2971 could propel the price toward the 50% Fibonacci level at $0.3226, as there are no significant resistance zones above. On the downside, critical support remains at $0.2806, followed by the 23.60% Fibonacci level at $0.2643.