TRON’s native token (TRX) is exhibiting conflicting market dynamics, caught between signs of potential upside fueled by large investors and headwinds from capital outflows.
Significant accumulation by whale wallets, increasing holdings by over 10% in the past month, suggests growing confidence among large stakeholders as TRX tests a critical technical resistance level near $0.29. This bullish indicator coincides with the Relative Strength Index (RSI) approaching 65, a threshold often preceding breakout attempts.
Mid-tier investors have also displayed strong accumulation behavior, boosting their TRX holdings by 41.19% over the last 30 days, further signaling institutional-grade interest.
Counteracting these positive signals, the TRON network faces substantial challenges. The lending Total Value Locked (TVL) across TRON-based protocols has suffered a significant decline, dropping by approximately $2 billion. This reduction points towards underlying market uncertainty or capital rotation away from lending activities.
Adding to the bearish pressure, market data reveals sell-side taker volume consistently dominating order flow. This pattern indicates active distribution rather than buying accumulation, threatening to undermine TRX’s upward trajectory.
The interplay between these powerful accumulation forces and the evident selling pressure creates a volatile landscape for TRX, leaving its near-term trend vulnerable to the outcome of its struggle against key technical resistance.