In June, the Tron coin price experienced a notable recovery, defying the broader market dynamics. While leading assets like Bitcoin and Ethereum plummeted to $60,000 and $3,233, the TRX price soared to a five-week high of $0.125. As the crypto market witnessed a renewed recovery sentiment, Tron buyers set their sights on key resistance to bolster the rally further.

Unlike most major cryptocurrencies, which followed Bitcoin's correction trend in June, the Tron coin displayed resilience, maintaining its position above the local bottom at $0.11. This demonstrated its ability to withstand broader market trends. The bullish turnaround lifted the asset by 11.6% within a month, reaching $0.123, while the market cap soared to $10.73 billion.

The daily chart reveals that the recovery is driven by an ascending trendline intact since mid-November 2023. The altcoin rebounded multiple times from this support, indicating an active accumulation trend among market participants during the market dip. According to a tweet by crypto analytics firm IntoTheBlock on June 26, 2024, the number of active addresses on the TronDAO network has been steadily increasing since the beginning of the year.

With sustained buying, coin buyers could challenge the last swing high resistance of $0.127. If the resistance flips into potential support, the Tron coin could jump above 12% to hit the resistance of $0.143. However, despite this week's ease in selling on altcoins as Bitcoin stabilizes above $60,000, the bearish momentum has not yet reverted, indicating the possibility of further fall. Thus, the TRX price could revisit the ascending trendline and seek support for the next jump.

The Tron network is experiencing a significant surge in activity, as indicated by data from IntoTheBlock. The analysis highlights an impressive rise in daily active addresses on the network, with May 6th alone seeing 3 million active addresses participating in transactions. This significant activity corresponds with an even more substantial volume of transactions totaling 7 million on the same day.

These figures indicate a growing engagement and utilization of the Tron blockchain, suggesting a robust year-to-date performance. The TRX price currently trades at $0.122, and a breakout above the neckline resistance of $0.123 will intensify the recovery momentum. If the pattern holds true, buyers should drive a rally to $0.133, followed by $0.144.