Bears Tighten Their Grip; TRON’s Price Looks Like a Roller Coaster Ride! 🎢

by

Key Takeaways

So, TRON decided to slip under $0.333-an all-too-familiar game of hide-and-seek with those pesky fundamentals. Was the $110 million treasury boost a cruel joke? And is $0.319 the new vacation destination for TRX? 💸

TRON [TRX] took a nosedive, penetrating the bearish abyss at $0.3440 and $0.333 within two weeks. Don’t you just love a good downward spiral? 🙄

Of course, this sell-off is like a clash of titans: weak on-chain metrics waging war against overzealous bullish long bets, all while leaving traders more confused than a cat in a dog park.

As of this moment, TRX is enjoying a lovely stint at $0.3313, marking a heartbreaking 2.07% decline in the last 24 hours, according to CoinMarketCap. Bonus points: daily trading volume rose 1.37% to a whopping $885.36 million. Who needs stability when you have *activity*? 🥳

Why is TRX’s value dropping?

The culprits behind this constant price plunge appear to be market uncertainty and a plummeting Total Value Locked (TVL). It’s like watching your favorite sitcom get canceled just as it hits its stride. 📉

According to DeFiLlama, TRON’s TVL plummeted from $6.28 billion in early August to $6.009 billion now. Talk about a dramatic fall from grace! 😩

Meanwhile, Chain Revenue took a dive from $6.68 million to $5.33 million. If TVL and volume are the stars of this show, they seem to have forgotten their lines, halving from $9.65 billion to a mere $4.51 billion. Yikes!

If nothing changes, one might suggest preparing for a meltdown at TRX’s expense.

TRX’s technical outlook turns bearish

Surprise, surprise! AMBCrypto’s technical analysis snoozes and finds TRX below the $0.333 line, suggesting a fresh trip down the rabbit hole of further losses. 🐇

On the daily chart (exhibit A, below), the latest breakout candle looks suspiciously like a hammer pattern. What can it mean? Let’s just say nail salons are getting a lot of new customers.

As we dissect the price action, it seems if TRX dawdles under the $0.333 threshold, it might dip an additional 3.90% to touch base with the $0.319 support. Who doesn’t love a good panic? 😱

And if this negative vibe insists on lingering, we might even witness a descent to the $0.297 level. Gulp.

At the moment, the Average Directional Index hovers at 29.42, confirming that yes, the selling momentum is as strong as your Aunt Sally’s fruitcake.

Derivatives and $110M injection into TRX treasury

Despite all odds, traders seem to be throwing caution to the wind and betting on long positions like it’s the latest blockbuster film. 🍿

CoinGlass data reveals TRX’s Long/Short ratio flirting at 1.2406-its highest in months. Looks like more than half of traders are opting for the long game, while the rest stay short and snarky.

Adding fuel to this eccentric fire is a generous $110 million investment in TRX’s treasury from its largest shareholder, Bravemorning Limited. If only our bank accounts could see the same investment strategy. 🤑

This shareholder swooped in, exercising all outstanding warrants and contributing a feast of 312.5 million TRX to the company’s already hefty treasury. Now Tron Inc. basks in a treasure trove exceeding $220 million. It’s the lifting of spirits-even if the price action is still whimpering in the corner.

Read More

2025-09-07 01:31