- Justin Sun’s announcement of a Tron-Solana collaboration has seen TRX’s market price surge, sparking a bullish sentiment.
- Tron’s technical indicators suggest potential further gains if TRX breaks the $0.24 resistance, but a drop below $0.21 could reverse recent progress.
Tron’s price showcased significant recovery after Tron Founder Justin Sun announced an upcoming expansion with the Solana blockchain. On Wednesday, the TRX market price saw a slight decline, falling to $0.23 after recovering by nearly 12%.
This partnership has ignited heightened excitement among the crypto community as this means increased interoperability, faster transactions, and greater adoption of both digital assets.
Tron Founder Justin Sun Announces Solana Collaboration
Justin Sun has been vocal and a great participant in the crypto landscape. Notably, the prominent figure has interacted with Ethereum and other altcoins. On Tuesday, Justin took to the X platform to announce that Tron will soon collaborate with the king of high transaction speeds.
TRX will be soon on solana. Ready to buy and collaborate 🤝
— H.E. Justin Sun 🍌 (@justinsuntron) March 18, 2025
This news worked pretty well on Tron’s native token as upon the announcement, TRX price jumped by nearly 8% the same day.
The integration with Solana could unlock new opportunities for decentralized finance (DeFi) and non-fungible token (NFT) applications, making TRX more attractive to developers and users.
With Solana’s high-speed courtesy of PoH and PoS and low-cost transaction capabilities, TRX may see increased liquidity and broader adoption. The move is expected to boost the token’s presence in the DeFi and NFT space while improving cross-chain interoperability.
Tron Price Forecast
Tron’s price bounced off a key support level around $0.21 on Monday, then jumped 7.43% on Tuesday. It’s now around $0.23, after hitting resistance near $0.24.
For the bullish momentum to continue, TRX needs to break and close above the $0.24 weekly resistance level. If successful, the price could climb further to retest the next daily resistance at $0.27.
Notably, the technical indicators paint a bullish picture:
The Relative Strength Index (RSI) on the daily chart stands at 52, indicating buying pressure above the neutral 50 level. Additionally, the Moving Average Convergence Divergence (MACD) indicator flipped to a bullish crossover on Wednesday, signaling further upside potential.
On the other hand, while the technical outlook remains positive, a failure to sustain support above the 200-day EMA at $0.21 could lead to further downside. If TRX breaks below this level, it may extend the decline toward its December 2 low of $0.20, reversing some of the recent gains.
In Conclusion, Tron’s partnership with Solana is a significant step toward enhancing its ecosystem by improving scalability, transaction speed, and DeFi opportunities. The market has responded positively to the news, with TRX experiencing a substantial rally.
If TRX breaks above $0.24, the bullish momentum could push it toward $0.27. However, investors should monitor key support levels, as failure to hold above $0.21 could lead to a potential downturn. The coming days will be crucial in determining whether the bullish momentum can be sustained.