- The price of Tron dips slightly to around $0.23 on Wednesday after a nearly 12% surge over the past two days.
- TRX founder Justin Sun has revealed plans for a new partnership with the Solana blockchain.
- The technical analysis indicates a potential continuation of the rally, setting sights on the $0.27 level.
The price of Tron (TRX) has slightly decreased, trading at $0.23 on Wednesday, following a remarkable 12% increase in the last couple of days. The enthusiasm surrounding TRX has been boosted by an announcement from founder Justin Sun about Tron’s forthcoming integration with the Solana blockchain. Current technical indicators hint at the possibility of a continuation of this rally, with a target of reaching $0.27.
Justin Sun announces partnership with Solana blockchain
On Tuesday, Tron creator Justin Sun shared the news that the TRX token will soon be available on the Solana blockchain. This announcement has ignited excitement within the crypto community, resulting in an almost 8% rise in TRX’s price that day, as market participants anticipate wider usage of TRX within Solana. This includes improved interoperability, quicker transaction speeds, and increased interest from investors and traders alike.
The integration with Solana could pave the way for new avenues in decentralized finance (DeFi) applications and non-fungible tokens (NFTs), enhancing TRX’s attractiveness to developers and users. Such developments could result in enhanced liquidity and more extensive adoption of the TRX token.
TRX will be soon on Solana. Ready to buy and collaborate
— H.E. Justin Sun (@justinsuntron) March 18, 2025
Tron Price Projection: Bulls target the $0.27 level
The price of Tron has retested and established support near the 200-day Exponential Moving Average (EMA) at $0.21 on Monday, leading to a 7.43% bounce the following day. As of Wednesday, TRX is encountering resistance at its weekly level of $0.24 while trading around $0.23.
Should TRX break above and secure a close over the weekly resistance at $0.24, it may further rally, aiming to retest the next resistance at $0.27.
The Relative Strength Index (RSI) on the daily chart registers at 52, above the neutral benchmark of 50, indicating a bullish outlook. Additionally, the Moving Average Convergence Divergence (MACD) indicator has also shifted to a bullish crossover on Wednesday, providing buy signals and suggesting a positive trend ahead.
TRX/USDT daily chart
However, if TRX does not maintain support at the 200-day EMA around $0.21 and slips below it, the price could decline further to revisit its low of $0.20 recorded on December 2.