TRON’s native token, TRX, is flashing a bullish price structure, but it recently faced a technical rejection near the 23.6% Fibonacci retracement level at $0.31758. The Tron coin hit a local high of $0.3343 before pulling back to around $0.312.
The dip came after momentum indicators began to cool off: the MACD histogram contracted, RSI slipped from overbought levels (70 to 67.62), and the 7-day simple moving average ($0.31626) failed to hold.
Daily trading volume also dropped 7.5% to $1.36B, suggesting that buyers are stepping back, at least momentarily. Still, the overall trend structure remains intact on higher timeframes.
On the weekly chart, TRX price continues to trade above a long-term support line, and analysts like Crypto Patel argue that $2 is a realistic target if this structure holds.
Tron (TRX) Leads in Ecosystem Growth
One of TRON’s biggest tailwinds right now is its dominance in the stablecoin space. In the last three months, TRX’s stablecoin supply ballooned by $13.4 billion. That’s a significant sign of rising demand, liquidity, and network activity.
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TRON currently leads all chains in stablecoin circulation, with over $81.7 billion in stablecoins locked on its network.
Another key driver of TRX’s upside potential is the chain’s explosive revenue and fee generation. According to Token Terminal data, TRON generated $364.4 million in transaction fees over the last 30 days, making it the highest-earning L1 blockchain, well ahead of Ethereum, which generated $47.5 million.
In terms of revenue (which includes staking rewards and burned fees), TRON also came out on top, with $364.4 million, claiming over 91.6% of total L1 market share.
This dominant market position reflects real usage and serves as a bullish signal. Projects that generate revenue tend to attract more developers, users, and institutional investment.
Additionally, the TRON network has a high number of daily active users, with over 2.4 million addresses as of July 21, 2025.
Technical Outlook: Can TRX Price Hit $2?
Tron (TRX) remains on a long-term upward trend, as noted by Crypto Patel. If the current momentum continues, the analyst, who has almost 70,000 followers on X, believes a price target of $2 is possible.
On the daily chart, Tron price is staying above key moving averages (MA50 at $0.286 and another at $0.272).
Bollinger Bands show that the Tron price is stabilizing around the midline ($0.302), suggesting a potential price increase if volatility increases.
TradingView’s technical summary shows a “Buy” signal. Moving averages point to a “Strong Buy,” while oscillators remain neutral, suggesting there is still room for TRX to go higher.
However, TRX price needs to rise above $0.3343, accompanied by increased trading volume, to confirm that the uptrend will continue. If it fails to stay above $0.31, it may drop further to $0.286 (MA50) before attempting to rise again.
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