Investing.com – Contrasting with most cryptocurrencies in recent days, and especially with the which remains stuck under $ 40,000, the crypto is soaring 10% since yesterday and almost 25% over a week. This sharp rise has also allowed it to enter the Top 20 of the most important cryptocurrencies, currently in 20th position.
It is also the best performing cryptocurrency in the Top 20 at the time of writing this article, over 24 hours and 7 days.
The main factor behind this outperformance of the TRON cryptocurrency is the upcoming launch (tomorrow Thursday, May 5) of USDD or “Decentralized USD”, which claims to be “the most decentralized stablecoin in human history”, and which will be launched on the TRON network.
That’s not all, as TRON has also announced plans to create a TRON DAO reserve or in its own words “the blockchain industry’s first decentralized reserve”, news that is generating hype that benefits cryptocurrency.
Important technical thresholds for the cryptocurrency TRON (TRX)
Regarding the graphical evolution of TRON, it should be noted that the cryptocurrency sent a positive signal today by crossing its 200-day moving average, after having evolved under this indicator since the end of 2021.
Currently at $0.07616, this 200-day MA should be considered as the first support near current prices.
On the upside, the psychological threshold of $0.08000, coupled with the March 31 high around $0.07950, form the first resistance zone to take into account. Beyond that, the key threshold of $0.1 could quickly be targeted.