TRON (TRX) reversed from a strong bullish trend into a sharp correction after recent highs, with momentum weakening for the TRX price as RSI fell near oversold levels. Trading activity increased with higher volume and open interest, while Tron Inc. continued accumulating TRX, reinforcing long-term confidence despite market pressure.
At the time of writing, TRX is trading at $0.3276 with a 24-hour trading volume of $777.98 million and a market capitalization of $31.06 billion. Despite the 1.37% loss over the last 24 hours, the TRX price structure and continued institutional accumulation point to a bullish reversal.
Source: CoinMarketCap
TRX Price Structure Point to Increasing Bearish Power
According to TradingView, the TRX price shows a clear, dramatic transition from a strong multi-month bullish trend into a sharp, aggressive correction.
After climbing steadily from $0.27400 to a peak near $0.37500 by late May, the TRX price sharply reversed. It plunged through the 20 and 50-day EMAs, down 1.55% to $0.32764, currently testing the 100-day EMA support level.
Source: TradingView
The 14-period Relative Strength Index shows this sudden change in momentum. After reaching overbought levels above 80.00 during the May peak, the RSI dropped below its yellow signal line, diving straight down. Now it’s at 32.96, right above the oversold threshold, which confirms the speed of the recent market sell-off.
Also Read: TRX Price Holds Key Support as Bulls Eye a Potential Rally Toward $3 Target
TRX Derivative Data Point to Improving Sentiment
However, the TRX open interest shot up 7.16%, hitting $300.90 million. This shows more derivatives action, greater engagement, and more speculation too. Looks like traders feel good about the market, and maybe a strong trend is forming.
Source: Coinglass
Trading volume went up by 2.30%, hitting $252.40M. This shows more people are involved in the market, there’s better liquidity, and there’s more trading going on. So, it looks like investors are more interested and are engaging more in the short term.
Tron Inc. Boosts TRX Treasury With 147,106 Token Purchase
The data from Tron Inc. further highlighted that the company has boosted its digital currency reserves through the acquisition of 147,106 TRX tokens for an average cost of $0.3399. The new acquisitions show the long-term investment of the company in the Tron network.
Source: TRONSCAN
Through this latest acquisition, Tron Inc. owns more than 698.7 million tokens. The firm continues to remain committed to building up its Digital Asset Treasury (DAT) initiative with a view towards achieving long-term value for shareholders through consistent investment and exposure to blockchain finance networks.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: TRX Price Eyes $0.366 Breakout as Inverse Head and Shoulders Pattern Forms
