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The cryptocurrency market has been experiencing a mixed performance since the start of the week.<\/strong><\/p>\n

The broader crypto market continues its mixed performance since the start of the week. The market has added less than 1% to its value in the last 24 hours, with the total market cap still above $1.7 trillion.<\/p>\n

Bitcoin has found it hard to break past the $39k barrier despite adding 0.95% to its value over the past few hours. Ether risks dropping below the $2,800 level after losing 0.35% of its value in the last 24 hours.<\/p>\n

However, TRX, the native token of the TronDAO ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap. TRX has added more than 11% to its value in the last 24 hours, outperforming the other major cryptocurrencies.<\/p>\n

The primary catalyst behind TRX\u2019s ongoing rally is the imminent launch of TronDAO\u2019s decentralised stablecoin USDD.\u00a0<\/p>\n

TronDAO CEO Justin Sun is set to\u00a0present and launch\u00a0<\/u><\/a>the USDD stablecoin during a live event tomorrow, May 5.\u00a0<\/p>\n

Key levels to watch<\/h2>\n

The TRX\/USDT 4-hour chart is the most bullish amongst the top 20 cryptocurrencies by market cap. The technical indicators show that TRX is outperforming the other major cryptocurrencies at the moment.<\/p>\n

The MACD line is within the positive zone, indicating bullish momentum. The 14-day relative strength index of 67 shows that TRX could soon enter the overbought region if the rally continues.<\/p>\n

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At press time, TRX is trading at $0.07758. TRX is preparing to surge past the first major resistance level at $0.7825 and could do so before the end of the day. However, the $0.0800 resistance level should cap any further upward movement in the short term.<\/p>\n

On the flip side, TRX could slip below the first major support level at $0.07326 if the bears regain control. However, it should comfortably defend the $0.07004 support level over the next few hours and possibly days.\u00a0<\/p>\n<\/p><\/div>\n