Tron Inc. announced that it purchased 168,783 TRX tokens, increasing its total holdings to more than 686.7 million TRX, according to a company statement.
The acquisition comes as TRX trades near the $0.296 level, with technical indicators signaling a possible breakout toward $0.30, based on TradingView market data.
The company said the purchase is part of its long-term digital asset treasury strategy aimed at strengthening shareholder value through exposure to the TRON ecosystem, staking rewards, and potential blockchain adoption growth.
Market analysts note that continued corporate accumulation could support bullish momentum if resistance levels are cleared.
Also Read: Tron (TRX) Signals Neutral-to-Bullish Outlook Following Strategic Investment
Tron (TRX) Technicals Points to a Recovery Phase
According to TradingView, TRX is showing a clear sign of a recovery as the price is trying to move above the $0.29677 mark.
As the price hit lows of $0.26700$ in early February, it is clear that the asset is making a series of higher lows. As the candles are trying to move above the upper Bollinger Band, it is clear that a bullish momentum shift is currently in the making.
Source: TradingView
Technical indicators also support this observation, as the price is comfortably placed above all the EMAs, namely 20, 50, 100, and 200.
This zone, which ranges from $0.28749$ to $0.29170$, is now a support zone for buyers. If TRX is able to hold its position, then the next point of reference would be the $0.30500$ resistance point.
Momentum Indicators Reinforce Bullish Momentum
The Relative Strength Index (RSI) is currently hovering at 62.37 points, indicating a good bullish trend for the token. The Relative Strength Index is trading above its yellow line, indicating a good buying trend for TRX.
Most importantly, the Relative Strength Index is trading below the 70.00 overbought level, indicating that the price is likely to go higher before it peaks.
Source: TradingView
The MACD indicator also supports the same view by confirming the positive trend. The blue line of the MACD indicator has moved above the orange line, which is the signal line.
Also, the bars on the MACD indicator are colored green, which shows the strength of the bulls as the price approaches the 0.3000 resistance level.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Tron Inc. Boosts TRX Holdings to 686M as Technical Indicators Signal Breakout
