Tron (TRX) is consolidating between $0.211 and $0.295 with no clear breakout direction, despite ongoing attention from fundamental developments such as a potential public listing via a reverse merger with Nasdaq-listed SRM Entertainment.
On-chain data indicates an expanding DeFi activity on the Tron network, with rising transaction volumes, growing JustLend deposits, and record swap activity on SunSwap, suggesting increasing liquidity and user engagement.
TRX price is currently near the upper boundary of the consolidation range at around $0.2813, supported by the 50-day, 100-day, and 200-day moving averages. The resistance at $0.295 is a key level to watch for a potential breakout towards new highs.
Despite the sideways price action, TRX's strong fundamentals, including rising DeFi activity, stablecoin inflows, and increased borrowing activity, indicate a solid foundation for potential future upside once a technical breakout occurs.