📣 Let's analyze the TRX coin!

The latest analysis of TRX showed that the price broke above the $0.3669 resistance level and reached around $0.377, but failed to stay above, leading to consolidation. Currently, TRX is trading around $0.343, above the Ichimoku cloud, and the RSI at 59 indicates that it is not overbought. The nearest resistance level is located at $0.3452, and its breakdown could open the way to the next target at $0.377. Important support levels are in the range of $0.336-0.338, and a breakout of $0.315 could negatively impact the current structure.

TRX fundamentals have also undergone changes. The TRON network has established itself as a dedicated settlement layer for dollar liquidity, with stablecoin settlement volume reaching $2.08 trillion in Q2 and the availability of approximately $94 billion in stablecoins, of which nearly 98% is USDT. This creates both a competitive advantage and risks associated with dependence on Tether. The emergence of an ETF on TRX in the US, which not only holds coins, but also sends them for staking, also adds interest to the asset, although the current fund volume is only $52 million.

Despite the growing interest, it is worth noting that TRX is not a deflationary asset, as 86.9 million more TRX were issued than burned in Q2. This indicates that high network activity creates demand, but does not cover emissions. Overall, TRX shows a more attractive outlook compared to May, and a breakout of $0.345 followed by an attempt to reach $0.377 is needed to continue its growth.