TRON (TRX) is establishing itself as one of the leading stablecoin payment platforms, thanks to its high practical application value and increasing widespread usage. According to the latest report from Coin Photon, USDT transactions currently make up the majority of weekly transactions on the TRON network, highlighting the platform’s central role in the stablecoin payment ecosystem.
Moreover, an efficient fee-burning mechanism combined with increasingly active staking activities has helped reinforce and increase the protocol’s value. Notably, the digital payment platform Wirex has also announced the deployment of a fully on-chain payment layer on TRON, opening new approaches for daily spending activities and significantly promoting the network’s real-world application.
Is TRON about to resume an uptrend?
Weekly TRX/USDT Chart | Source: TradingViewThe weekly chart shows that TRX is still moving within a solid bullish structure. The strong rally from March to August pushed the price from $0.21 to $0.37. By the end of the year, the market entered a correction phase, pulling the price back to test the 61.8% Fibonacci level around $0.272 — an important technical support zone.
After completing the test, TRX quickly rebounded, further strengthening the long-term growth outlook. This development opens opportunities for medium-term traders to consider a (Long) strategy in the near future.
Regarding indicators, OBV has shown a slow but steady increase since November, indicating that buying volume remains stable. Meanwhile, the weekly RSI has risen to the 51 zone, reflecting a gradually forming and spreading bullish momentum across larger timeframes.
Why might TRON still be unprepared for a strong breakout?
This is a scenario traders need to be especially cautious about. The $0.30 level is not only a psychologically significant resistance but also served as a notable supply zone in the first two weeks of November.
At the time of writing, TRX was already rejected on lower timeframes on Saturday (January 10). Although the price briefly reached $0.3025, buying pressure quickly weakened, causing TRX to reverse and decline 1.19% to around $0.2990.
More notably, Bitcoin (BTC) momentum has shown signs of stalling in recent days. In a scenario where BTC corrects and loses the $89,000 support zone, the market is likely to see increased selling pressure, which could lead to downside risks for the TRON token.
Trader strategy: Wait for a breakout to buy
Daily TRX/USDT Chart | Source: TradingViewThe $0.3012 level marks an important oscillation peak formed in early November on the daily chart.
Given that the bullish structure remains intact on the weekly chart and a breakout appears increasingly likely, traders can patiently wait for the price to surpass and reclaim the $0.3012 level, confirming this zone as a solid support before considering opening long positions.
If the positive scenario unfolds, the next price targets are $0.324 and $0.347 respectively. Conversely, losing the $0.29 level would break the bullish outlook, forcing the market to reassess the current trend.
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