TRON holds above key support, targets $0.3541 as network hits 439 TPS

Network performance reaches new milestone

Recent data from analytics provider Chainspect reported that the TRON network reached 439 transactions per second (TPS) averaged over 100 consecutive blocks. This milestone marks a 3.8% increase from the previous record set just a week prior, underlining TRON’s ongoing focus on expanding its throughput and efficiency. Achieving sustained TPS across several blocks demonstrates the blockchain’s growing capacity to process large volumes of on-chain transactions.

Mini dictionary: Chainspect, a blockchain analytics provider offering insights into transaction speeds and network statistics for various public blockchains.

TRON’s improved performance highlights its appeal for stablecoin transfers, payment solutions, and DeFi projects that rely on high throughput and low latency. Sustained network capacity is seen as a critical factor supporting future adoption and ecosystem growth.

Technical outlook and market dynamics

At the time of writing, TRX trades at $0.3322, with a 24-hour trading volume of $352.84 million and a market capitalization standing at $31.53 billion. Market observers note that despite recent price stability, both TRX’s technical posture and network fundamentals suggest a possible bullish reversal.

Crypto analyst JNVCK CRYPTO identified renewed strength as TRON reclaimed its seven-day and 90-day volume-weighted average price (VWAP) levels. The asset is currently holding above a former resistance area, which now appears to serve as support—an indicator that buyers may be regaining momentum for a near-term upward move.

At present, TRON’s ability to maintain reclaimed volume-weighted average price levels, combined with network activity, is fostering optimism among traders and could set a foundation for further price appreciation if market conditions remain stable.

The analyst also emphasized the significant influence of Bitcoin’s market trajectory on TRX’s short-term moves. If Bitcoin avoids a steeper rejection and retains its current pattern, TRX could aim for a technical target at $0.3541, provided buyer sentiment remains robust.

Key support, upside targets, and risks

Analysts point out that maintaining these VWAP levels is crucial for further gains. A sustained move above the present resistance could pave the way for TRX to approach the $0.3541 level, while a rejection might result in renewed testing of support. Continued growth in network throughput and activity may further strengthen the token’s market position.

Although the technical and network outlook appears constructive, the broader trend in Bitcoin and overall sentiment in crypto markets will continue to play a pivotal role in determining the direction of TRON’s price. Crypto markets remain volatile and subject to rapid changes.

Higher throughput, functional network upgrades, and resilient support levels could support TRON’s market standing, but traders remain to the evolving influence of Bitcoin’s price dynamics and general market sentiment.