Tron Price Prediction: TRX Eyes $0.30 as Justin Sun Invests $18 Million in Tron Inc.

Highlights:

• The Tron price is nearing the $0.30 resistance, and the trading volume is increasing by 3%. 
• Justin Sun, the founder of Tron, has contributed to Tron Inc. to the tune of $18 million in an effort to increase the treasury of Tron. 
• The technical picture shows that TRX eyes $0.30 resistance in the short run.

At present, Tron is trading at 0.28, and there is an increase in the trading volume by 3% to $556 million. Justin Sun has injected Tron Inc., which trades on Nasdaq with $18 million in equity. The bearish trend is declining, with TRX nearing the resistance of $0.30.

On Monday, Tron Inc. obtained an equity investment in an attempt to diversify its TRX treasury. Black Anthem Limited conducted the acquisition for 1.3775 per share, totaling $18 million. This saw the company possessing over 677 million TRX tokens. This symbolizes 0.716% of the entire TRX stock with a value of over 193 million.

Rich Miller, the Chief Executive Officer of Tron Inc., stated:

In the meantime, the crypto market is volatile, and Bitcoin currently has a price that is less than 90,000. Nevertheless, the co-founder of Binance, CZ, has added that crypto will be okay.

TRX Price Eyes $0.30 Resistance

TRX is trading at 0.2846, and traders see this level as a bullish accumulation zone. The 50-day moving average of $0.2825 is a potent supporting average. This level is used as a cushioning zone in case of further falls. To ensure an upward trend, the bulls should conquer the 200-day SMA value of $0.30.

The MACD indicator indicates that there is a crossover to the bullish side, followed by the line of MACD being above that of the signal. This implies that the bullish momentum is gaining strength.

The RSI price on the TRX/USD 1-day chart is stable at 54.43. These indicators signal that the coin is not overbought or oversold, hence it can achieve additional profits. In case TRX does not continue being in the support zone of $0.28, the other levels that the traders can consider include $0.26 and $0.24. These levels may inhibit the declining movement. Nonetheless, in case of a violation of these levels, the price may drop up to $0.23.

The traders must seek a good breakout on a strong level above $0.30. This will mark an upswing to the levels of $0.32 and $0.35. Conversely, if the price is lower than $0.28, this may result in further consolidation of the TRX token. The positive technical outlook, together with investment by Justin Sun, makes TRX a potential coin to watch in the coming days.