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The recent price action of TRX indicates that investors are becoming keenly interested in the native token. Recently, TRX experienced a sudden surge of about 10% in its price. This sudden surge can be attributed to the BitTorrent Bridge platform that was just launched.
According to the founder of TRON, Justin Sun, the major reason for the launch is to enable fast and effortless transactions with TRX tokens. Owing to this development, TRX is gaining popularity in the cryptocurrency community as the blockchain (TRON) also continues to grow.
Key TRON Levels To Watch – June 7
TRXUSD heads into the discount array following the indication of the bearish divergence. The bearish divergence was indicated by the RSI (Relative Strength Index) as it formed lower highs against the higher highs of the price.
Tron (TRX) Sees 10% Price Surge Following Bittorrent Bridge Launch https://t.co/cMqfI8DgcG pic.twitter.com/tWUmqyCkJn
— Jason Fernandes (@TokenJay) June 4, 2023
According to the MA Cross, the bullish overall trend has been bullish since the consolidation phase ended in May 2023. The market is retracing downward with respect to the RSI’s indication. TRXUSD is likely to resume its uptrend once the discount array is reached.
TRX Key Levels
Resistance Levels: $0.07960000, $0.08870000, $0.10780000
Support Levels: $0.07320000, $0.06550000, $0.05540000
Total Market Capitalization: $1.10T
TRON Market Capitalization: $6.94B
TRON Volume: $0.23B
Market Rank: #11
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