TLDR
- TRX price climbed 6% on Tuesday following World Liberty Financial’s USD1 stablecoin launch on the TRON network
- The token broke above $0.2875 before hitting resistance at $0.2980, currently trading around $0.2920
- TRON now processes over $3 billion in Layer 1 fees annually, more than Ethereum, Bitcoin, and Solana combined
- Technical analysis shows TRX maintaining an ascending channel with potential targets at $0.35 and $0.45
- A halving proposal is gaining traction that could reduce block rewards and create supply pressure
TRON has captured trader attention this week as multiple developments converge to drive price momentum. The TRX token posted a 6% gain on Tuesday, breaking above the $0.2875 level before meeting resistance at $0.2980.
World Liberty Financial launched its USD1 stablecoin on the TRON network. The company has ties to President Donald Trump. TRON founder Justin Sun called the launch a “giant leap for stablecoins.”
Sun also attended a White House dinner for top Trump Token holders. This connection to high-profile figures has drawn fresh interest to TRON’s ecosystem.
The network’s fundamentals continue to strengthen. According to DeFiLlama, total value locked on TRON reached over $5 billion. On June 6, the network recorded 4.50 million returning user addresses.
Growing Fee Dominance
TRON has emerged as a leader in Layer 1 fee generation. The network now processes approximately $3 billion in annual fee volume. This exceeds the combined totals of Ethereum, Bitcoin, and Solana.
Stablecoin activity drives much of this fee volume. TRON has increased its share of Layer 1 fees from less than 30% to around 80%. The addition of USD1 could further boost these numbers.
Technical Setup Points Higher
TRX currently trades around $0.2920, positioned between support at $0.2808 and the next resistance level. A break above $0.2980 could target the 50% Fibonacci retracement at $0.3230.
The daily chart shows TRX maintaining an ascending channel pattern. The token has printed higher lows while respecting the lower trendline. Recent price action broke above a descending resistance line that had capped gains for months.
$TRX 1D uptrend Holding strong
30Cents is easy from here ,
I am long #TRX #TRON #trxusdt pic.twitter.com/10Df7oAT4O— AltWolf🐺 (@AltwolfCrypto) June 9, 2025
Technical indicators support continued upside momentum. The RSI remains in mid-range territory, leaving room for further gains. A recent MACD crossover has pushed histogram bars into positive territory.
Derivatives data shows growing bullish sentiment. Open interest in TRX futures rose 8.25% over 24 hours to $329 million. The weighted funding rate climbed to 0.0098%, indicating more long positions than shorts.
Short liquidations nearly doubled long liquidations in recent trading. This cleared out bearish positions and reduced selling pressure.
Halving Proposal Gains Support
A new voting proposal could implement a TRX halving mechanism. This would reduce block rewards and potentially create supply pressure. The proposal is gaining traction among network participants.
Immediate price targets include $0.35 and $0.38 if TRX breaks above current resistance. Some analysts see potential for a move toward $0.45 if momentum continues.
The 200-day exponential moving average sits far below current levels at $0.11. This highlights the strength of the current uptrend.
TRX faces immediate resistance at the $0.30 level on some timeframes. A convincing break above this threshold would confirm bullish continuation and open the path to higher targets.
