Tron Crypto Development Activity Fell Tremendously; What’s Next?

• The Tron Protocol price failed to sustain after the breakout.
• A death crossover has been generated between the MACD and the Signal line.

The Tron price has been bullish in a broader time frame and reached the last swing high. The bullish trend was disturbed near the $0.145 and reacted negatively. The price was dropped by 23% in 20 days after the bull run.

The TRX price has been trading over the 200-day EMA for a longer time, which shows the bulls’ grip. In mid-April, the digital asset price was dumped below the 200-day EMA, but buyers lifted the price to its flow.

Is Tron as Fast as Cheetah?

According to the source from ‘X,’ formerly called Twitter, a question was to ChatGPT 4o about comparing $Tron with an animal. 

ChatGPT 4o has compared Tron crypto with cheetah based on the speed of its growth. Since 2023, the Tron crypto price has performed extraordinarily and remained bullish since its launch.

Transfer Volume of Stablecoins on TRONNetwork

From May 10 to May 16, the daily average transfer of Stablecoins on Tron Network was $13,125,551,941. The transfer of stablecoin on the Tron Network has increased for the past few weeks.

Tron Price Technical Analysis Over Daily Timeframe

The Tron crypto price was struggling below the major resistance level of $0.120 on a daily time frame. In the second week of May, the TRX price triggered a breakout from %0.120 mark but was unable to sustain.

If the digital asset price bounces back and starts trading over the $0.120 mark, the recent fall can be a retest. If the trading volume increases, the buyers may lift the price to the last swing high of $0.145.

Alternatively, if the price fails to exceed the major resistance level of $0.120, sellers may become confident and drop to the 200-day EMA. Suppose the TRX price fails to defend the 200-day EMA; the momentum can be shifted toward the bears.

According to the technical indicators, MACD shows that the histograms have converted to red. A death crossover between MACD and the Signal line has been generated, showcasing the bearish sentiment.

Tremendous Change in Development Activity Seen

As per the given data, the development activity has decreased by more than 90% in a week. Due to this change, the price has failed to perform after a breakout. A bearish momentum can be seen if the positive doesn’t occur in the development activity.

Conclusion

According to the technical chart structure, the Tron price has witnessed buying pressure for more than a year. The development activity has declined by more than 90%, affecting the price negatively. Most of the technical indicators are favoring bearish momentum.

Technical Levels

Resistance: $0.127 & $0.145

Support: $0.118 & $0.105

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

Krystian Bielanski