Tron Inc. (NASDAQ: TRON) has expanded its TRX treasury by acquiring an additional 162,930 TRX tokens at an average price of $0.3069 on Saturday, March 21.
This move raises the company’s total TRX holdings to over 687.6 million tokens, reflecting its ongoing commitment to strengthening its balance sheet and strategic crypto assets.
Source: TRONSCAN
The company has indicated that these acquisitions are part of a broader plan to grow its Tron Digital Asset Treasury (DAT), aimed at enhancing long-term shareholder value.
By accumulating TRX steadily, Tron Inc. seeks to capitalize on market opportunities while reinforcing its position in the blockchain ecosystem, signaling confidence in the token’s future growth potential.
Also Read: TRON (TRX) Eyes $0.40 Breakout Amid Tron Inc.’s Institutional Accumulation
TRX Technical Setup Suggests Potential Surge to $5
As a result of this significant acquisition, TRX is receiving renewed interest in the cryptocurrency space, according to crypto analyst Crypto Patel, who indicates that the token has a potentially underappreciated long-term technical setup developing on the two-week chart.
As a result, TRON has had a robust ascending support trendline for over six years, and each significant retest has seen a strong reaction to the upside.
Source: Crypto Patel’s X Post
As can be seen from the current price structure, TRX is holding firmly in this vital price area around the $0.25-$0.30 mark, which is seen as a vital price area to hold in order to sustain the overall uptrend.
Crypto Patel indicates that if this price area holds, in line with historical patterns, targets around the $1.00, $2.00, and $5.00 marks could eventually come into play.
Momentum Indicators Point to Strong Bullish Reversal
According to TradingView, the current RSI is at 67.91. This shows a strong bullish momentum but is nearing an overbought condition.
Although it has declined from higher levels, it is still holding up well above the signal line at 61.27. This shows that although there is a decrease in buying pressure, there are no signs of a reversal in the trend.
Source: TradingView
This positive outlook is further supported by the MACD, as the blue line remains significantly above the orange line. The expanding nature of the green bars in the histogram also indicates the increasing trend and power of the current price move.
As the MACD remains in positive territory above the zero line, it indicates that the price appreciation is backed by a healthy trend velocity.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: TRX Shows Strong Recovery After Tron Inc. Increases Digital Asset Treasury
