The TRON (TRX) cryptocurrency is testing a key support level after a volatile price decline, with technical indicators suggesting bearish pressure may be waning. Analyst CryptoMark notes a hold above this level could lead to a recovery toward $0.37-$0.38. In a related move, Tron Inc. has acquired an additional 159,118 TRX tokens, increasing its total holdings to over 700.3 million TRX and signaling institutional confidence in the asset.
TRON (TRX) is retesting a major support zone following a volatile drop, with current price stability shaping the next trend direction. At the time of writing, TRX was trading at $0.3174 with a market capitalization of $30.09 billion.
According to analyst CryptoMark, the price action shows clear hesitation at a historical support level. The RSI is strongly anchored in oversold territory, suggesting exhaustion among sellers.
If support holds firm, the TRON price could stage a recovery toward the $0.37-$0.38 area. However, a failure to hold this level risks further downside for the asset.
Separately, Tron Inc. continues to accumulate TRX tokens. Data highlighted a recent acquisition of 159,118 TRX at an average cost of $0.3142 per token.
This purchase raises the company’s total holdings to more than 700.3 million TRX. The strategy demonstrates a deliberate effort to strengthen the firm’s treasury reserves.
