Amidst the current market uncertainty, TRX, the native token of Tron, stands out with its strong performance over the past 24 hours. As of March 19, 2025, TRX has recorded an 8% gain, outperforming major cryptocurrencies like Bitcoin and Ethereum.
TRX Defies Bearish Trend
The rally and recovery in TRX started following an announcement by billionaire and Tron founder Justin Sun, who stated in a post on X (formerly Twitter), 'TRX will be soon on Solana. Ready to buy and collaborate.' This collaboration with Solana seems aimed at enhancing cross-chain transactions and leveraging Solana's fast and low-cost network for overall efficiency improvement.
Current Price Momentum
Sun's announcement, amid current market sentiment, allowed TRX to recover losses and maintain an upside momentum. The asset is currently trading near $0.238, with a price surge of over 8.50% in the past 24 hours. Additionally, following this announcement, trader and investor activity increased significantly, leading to a 25% surge in trading volume.
Tron (TRX) Technical Analysis
According to CoinPedia's technical analysis, TRX appears bullish, and with the ongoing rally, it has regained one of its crucial support levels at $0.22 while moving toward the resistance level of $0.25. The TRX daily chart shows the asset was previously trading within a tight range between $0.2185 and $0.25. However, given the recent price rally and Sun's announcement, it appears that the bulls are back, and the asset is poised to continue its upside momentum until it reaches the $0.25 level. Additionally, during the recent price drop, the asset successfully retested the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating it remains in an uptrend.
TRX showcases impressive performance amid general market instability. With the anticipated collaboration with Solana, its potential for further growth appears increasingly evident.
