This is why TRX is up more than 3% today

The crypto market is currently in a sharp decline and has lost more than $200 billion in the past few days.

The cryptocurrency market has been in a bearish trend for the past few days. The market has lost over $200 billion in the past few days with the total market cap now exceeding $1.52 trillion.

In the last 24 hours, the market has lost almost 4% of its value. Bitcoin remains the leader but has lost its $35,000 support level and is now trading around $33,000 per coin,

Ether, the second largest cryptocurrency by market cap, has also dropped below the psychological $2,500 level and further losses could force ETH bulls to defend their position above $2,000.

TRX, the native token of the TronDAO ecosystem, has performed the best over the past 24 hours among the top 20 cryptocurrencies by market cap. TRX has increased in value by more than 3% and is now trading at $0.08404 per coin.

The coin is performing well as TronDAO's USDD stablecoin continues to gain traction. TRONDAO recently announced that the stablecoin's total supply has now surpassed USD 240 million.

The TRX/USDT 4-hour chart is currently bullish as Tron has been showing good performance for the past few days. The MACD line is above the neutral zone, indicating bullish momentum for TRX.

The 14-day Relative Strength Index of 52 shows that TRX is no longer in the oversold territory.

If the bullish momentum holds, TRX could surge above the $0.0910 resistance level in the next few hours. In the event of a prolonged uptrend, TRX could trade above $0.10 for the first time this year.

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