- Network activity on Tron has slowed, with gas usage and new wallet growth both declining steadily.
- TRX price hovers around $0.244 support; a break above $0.259 could spark a move to $0.30.
- RSI remains neutral near 50, while MACD awaits bullish crossover to confirm upward momentum.
The Tron network appears to be entering a significant accumulation phase, according to recent insights shared by CryptoQuant contributor BorisVest. In an analysis titled “Tron Network Signals Accumulation Phase Amid Decreased Activity,” the analyst points to on-chain indicators suggesting the network may be gearing up for its next move.
BorisVest highlights a noticeable drop in new wallet creation and a reduction in transaction fees. This decline may seem negative, but he views it as part of a broader cooling-off period. He emphasizes that what looks like a slowdown is actually a pause where the network regroups and prepares for future growth.
The analyst explains that earlier surges in Tron’s activity were marked by spikes in complicated transactions and high gas fees. As of late, both the average and peak gas usage figures have dropped, signaling a decline in transaction intensity across the network.
Signs of Accumulation Strengthen Confidence
While Tron’s price has seen occasional upward moves, the total number of new wallet addresses has not followed suit. The number either stays flat or decreases, pointing to a lack of fresh retail investment and limited organic growth during this period. Still, these indicators are not being viewed as warning signs but rather as part of a typical accumulation pattern.
Historical trends, as BorisVest points out, show that phases marked by weaker growth in user participation and low fee activity often come before more powerful market rallies. The current dip in wallet creation and reduced gas usage could be setting the stage for future upward momentum.
The analyst suggests that when fewer participants engage on-chain and new user onboarding slows down, it is usually a time when existing investors quietly strengthen their positions. If past market cycles are any guide, this phase of low activity could eventually transition into renewed momentum as investor confidence is restored.
TRON Price Faces Critical Support Level
The price of Tron (TRX) has remained near its key support level of $0.244 throughout the past week. On Tuesday, it edged slightly higher to approximately $0.247. Despite the quiet on-chain activity, this support level remains a key area for investors. If the price stays above this line, analysts expect a possible move upward toward the April 14 high of $0.259.
The Relative Strength Index (RSI) currently stands near a neutral 50, reflecting a lack of clear direction among traders. For any sustainable upward trend, RSI needs to rise above 60. Similarly, the MACD indicator is currently showing a neutral consolidation pattern. Analysts await a bullish crossover to confirm renewed upside strength.
Adding to this cautiously optimistic outlook, a trader “Whales_Crypto_Trading” observed a technical breakout on Tron’s daily chart. The network appears to be breaking above the upper boundary of a descending triangle formation. If this breakout holds, it could lift the price toward the $0.30 mark.
However, If Tron fails to maintain the $0.244 support level, analysts warn of a possible drop to the April 11 low of $0.234. On the other hand, if buyers gain confidence and push prices higher, the market could pivot back into an uptrend.
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