What to know:
- TRON (TRX) price holds above key support, with analysts targeting a potential rally toward $0.36.
- The TRX bullish trend remains intact while the token stays above its 200-day SMA and $0.31 support.
- Tron Inc. purchased 152,323 TRX, raising its total holdings to over 703.7 million TRX.
TRON (TRX) remains above a key support zone, preserving the bullish outlook for the TRON price despite ongoing consolidation. Analysts expect buying momentum to return if support holds, while Tron Inc. continues expanding its TRX treasury as part of its long-term strategy to strengthen its balance sheet and support future growth.
At the time of writing, TRX is trading at $0.3282 with a 24-hour trading volume of $532.9 million and a market capitalization of $31.14 billion. Following the 1.12% surge over the last 24 hours, the TRON price structure and institutional accumulation point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: TRON Price Prediction: Will TRX Climb to $0.38 or Drop to $0.26 Next?
TRON Price Holds Support as $0.36 Stays Intact
According to the crypto analyst Umair Orakzai, the TRON price continues to consolidate above a key support zone, a technical pattern often viewed as bullish during an established uptrend.
Analysts believe the current range could lead to a brief pullback toward the Golden Pocket Fibonacci level before buyers regain control, potentially driving the TRON price higher toward the next major resistance around $0.36.
Source: Umair Orakzai’s X Post
The positive trend is valid as long as the TRON price remains above its 200-day simple moving average, currently located right at the bottom of the range.
In the event of persistent closes below the $0.31 level of support, the downward pressure on the market will increase, decreasing the probability of a swift return to the $0.36 target level.
Tron Inc. Buys More TRX, Holdings Top 703.7 Million
The data from Tron Inc. further highlighted that the firm has increased its holdings of cryptocurrencies with the acquisition of 152,323 TRX at an average rate of $0.3282 each.
The latest acquisition ensures that the firm’s total holdings of TRX exceed 703.7 million, thereby affirming its position as one of the companies with a significant presence in Tron’s environment.
Source: TRONSCAN
Tron Inc. once again reiterated its dedication to growing the Tron Digital Asset Treasury (DAT), which is integral to its strategic plans.
Through incremental buildup of its TRX holdings, the organization intends to create value for its shareholders and take advantage of the growth opportunities that lie in the blockchain technology and digital assets space.
Following the bullish price predictions and continuous institutional accumulation, the TRON price surges upward. This move is backed by the general recovery trend in the crypto market, but it could turn cautious if BTC starts to move downward.
What Happens Next?
The future of TRON is dependent on holding the $0.31 support level. In case of continued dominance from the buyers, the TRX price will find some strength to move towards the $0.36 resistance barrier in the coming days. The continued buyback of treasuries by Tron Inc. can be a reason for the investors’ confidence.
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 $0.3420 Breakout as Tron Inc. Increases Treasury Holdings
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