TRON price holds near $0.24 amid bullish momentum. With strong EMA support and Tether’s $1B mint, can TRX reach the $0.40 mark?
The crypto market remains relatively quiet following sharp weekend volatility, with Tron holding steady near $0.24. The altcoin remains in the top 10 by market capitalization, currently valued at $23.46 billion, and is resisting a minor pullback of 0.91% over the past 24 hours.
Currently, TRX’s resilience suggests the potential for a major breakout rally. Could this bullish momentum push Tron toward the $0.40 level?
Tron Price Analysis
On the daily chart, TRON price action reveals a consolidation range between $0.21 and an upper ceiling of $0.2551. Within this range, short-term TRX price action is supported by the 50-day EMA, indicating growing strength.
This increases the likelihood of a breakout as TRX approaches the upper boundary. Additionally, the 50-, 100-, and 200-day EMA lines remain in a bullish alignment.
Based on previous price movements, the current consolidation follows a sharp correction from $0.45 to $0.21. This range reflects the market’s absorption of the selling pressure that began in late 2024.
Since then, price momentum has been confined within the range, potentially setting the stage for a strong breakout. Supporting this outlook, the MACD and signal lines are trending closely together in the positive zone.
This suggests an increased chance of a bullish crossover, which could signal a trend reversal. Using trend-based Fibonacci retracement levels, a breakout could see TRX reaching the 23.6% level at $0.28.
Should momentum strengthen, the price may test the 50% Fibonacci level at $0.3988, highlighting a strong possibility for TRX to reclaim the $0.40 mark. Conversely, a breakdown below the 50-day EMA at $0.24 could lead to a retest of the 200-day EMA at $0.2243.
Tron Ecosystem Boosted by Additional 1B USDT Mint
Fueling bullish sentiment around the Tron ecosystem is Tether, which has minted an additional 1 billion USDT on the Tron network. Since April 28, Tether has minted 4 billion USDT across Ethereum and Tron.
Tether minted an additional 1B $USDT on Tron ~4 hours ago!
Since April 28 (8 days ago), #Tether has minted 4B $USDT on both #Ethereum and #Tron.
Follow @spotonchain for more updates now! https://t.co/SeKwCj1byN pic.twitter.com/xxPA6IosmB
— Spot On Chain (@spotonchain) May 6, 2025
According to a recent tweet by crypto analyst Ted Pillows, Tron’s network economic value stands at 24.56%, second only to Solana at 41.72%. With Tron’s chain revenue now surpassing Ethereum’s at 16.4%, demand for TRX tokens is expected to increase.
According to TronScan, the total number of accounts on the Tron network has surpassed the 300 million mark. As of now, total accounts stand at 304.65 million, while the total value locked (TVL) has exceeded $20 billion, currently at $20.25 billion, indicating growing network strength.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
