Tron (TRX) continues its bullish trend with a significant increase after new news hit the market. According to CoinGecko, the token is up 14% since last week. This process may continue.
Given the favorable market conditions, Tron has a good chance of performing significantly this week. This possibility is supported by Mobilum’s recent tweet, which highlighted Tron’s powerful network and highlighted its support for global transactions.
Impressive Tron User Participation on Mobilum
Crypto banking platform Mobilum has released statistics showing that Tron users are using the platform for real-world transactions. According to a post on social media platform X, Tron users have been heavily involved in Mobilum’s global operations.
Most of the transactions came from Asia, where over 39% of the transactions were attributed to Tron users, followed by the US and Europe. This is a significant milestone for Tron as it gradually finds its place in real-world use cases.
New Record for Annual Tron Transactions
Into The Block recently reported that the Tron network is recording around 8 million transactions per day. This high transaction volume has contributed to Tron’s long-term growth.
The platform’s focus on stablecoins is one of the factors that has contributed to its growth. There are currently four stablecoins used on the Tron network, namely USDT, USDJ, TUSD, and USDC.
Tron Hits Peak Price But Fails to Surpass It
Although the token’s current trend is bullish, it seems that the next few days will be tough for investors and traders. At best, Tron can return to a more stable level and then record a further increase.
At the time of writing, Tron bulls seem to be having a hard time breaking through the current ceiling of $0.1472. However, with time, the token will be able to gain enough momentum to surpass this level. After several days of bullish gains that have injected profits into investors’ portfolios, Tron is now in overvalued mode.
As the Relative Strength Index (RSI) has peaked, this suggests that there could be a downturn in the coming days and the token will return to the $0.14 level. If this happens, the $0.14 mark will be broken in favor of the bears and the token will reach $0.13.
However, $0.13 is the lowest price the token has ever reached. TRX’s low correlation with Bitcoin will gradually increase in the coming days, helping Tron regain lost ground after the bullish momentum fades. For investors and traders, holding the token while keeping an eye on price fluctuations in the broader market might be the best decision at the moment.
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