Tron weekly analysis (December 14)

Tron (TRX) experienced significant growth in revenue and network activity in 2024. TRON’s revenue this year reached more than 1.5 billion dollars, which was a 60% increase compared to the previous year.

This growth was mostly due to the expansion of the decentralized financial (DeFi) ecosystem and the increased use of stablecoins, especially Tether (USDT), on the Tron network. Tron is now the second largest stablecoin network in the world and has over 59.8 billion USDT on its network.

Also, the number of active addresses on the Tron network increased by 64% in the previous year, which shows that more users and developers have been attracted to this network.

But what really caused the price of Tron to grow more than three times? In 2024, Tron experienced a significant growth, rising from $0.105 to an all-time high of $0.45. This growth of 328.75% was mainly due to Sun’s news, along with the increase in network activities and the growth of the Tron ecosystem.

Justin Sun, the founder of Tron, attracted a lot of attention when he bought a piece of modern art called “The Comedian”, which consisted of a banana stuck to a wall, for $6.2 million. He bit into this banana at a ceremony and used this gesture to demonstrate the connection between conceptual art and blockchain technology.

In addition, Sun increased investor confidence in TRON by investing $30 million in World Liberty Financial, a project backed by Donald Trump. These actions caused the volume of TRX transactions to reach more than 14 billion dollars and its price increased by 100% in one day.

However, after reaching $0.45, Tron price corrected and is currently trading in the $0.26 range. Some analysts believe that by 2025, the price of TRX may reach $0.73. If the upward trend continues, the price can increase up to $1.

Examining TRON’s daily chart, we notice that there is a demand zone for TRON in the psychological range of 0.2 to 0.22 cents. Considering the upward pressure of the price and the increase in the volume of transactions in times of growth, Tron’s upward trend seems to be strong and continuous.

In the short term, the resistances facing TRX are: $0.3, $0.32, and $0.45. Also, TRX is above its 200-day moving average, which indicates the continuation of the upward trend.

TRX token has a high potential for price growth in the future with its powerful ecosystem and significant growth of users. However, fierce competition with other blockchains and market fluctuations are some of the challenges facing this project. Technical analysis shows a stable upward trend, but investors and traders should pay attention to the existing risks.