Tron (TRX) declined 3% over the past week, trading around $0.31 as the altcoin remained under sustained bearish pressure. According to reports from AMBCrypto, TRX has traded within a descending channel since facing rejection at $0.37 in late May, reflecting persistent selling pressure. Despite the price decline, the network demonstrated strong underlying fundamentals with daily transactions surpassing 14.3 million, a record for the network, representing a 15% increase over the previous 30 days. The combination of weak price action and continued accumulation by Tron Inc suggests the company is absorbing some of the selling pressure as demand softens.
Tron Inc continued its aggressive accumulation strategy, purchasing 157,392 TRX tokens at an average price of $0.3177 for $50k, bringing the total June acquisitions to 1.2 million TRX. As reported by AMBCrypto, this follows the previous day's acquisition of 159,118 TRX, bringing total holdings above 700.4 million TRX. The continued buying during an extended period of market weakness demonstrates Tron Inc's confidence in the long-term value proposition of the network. This accumulation pattern suggests institutional investors view the current price levels as attractive entry points for long-term positioning, even as the broader market faces headwinds.
DefiLlama data showed the network recorded positive Daily Net Inflows of around $6.9 million, indicating more capital entered the network than exited it despite weak price action. According to AMBCrypto, this positive net inflow reflects continued interest in the ecosystem despite the bearish market sentiment. The stablecoin value on Tron reached a record $90.96 billion on May 24 and currently sits near $90.3 billion, marking a 4.9% rise since the end of Q1 and a 16.4% gain over the past year. Additionally, decentralized exchange activity recovered with DEX volume rising 28% over the past 30 days, rebounding from multi-quarter lows according to CertiK data.
TRX's technical indicators suggest continued downside risk despite institutional support. As reported by AMBCrypto, the Relative Strength Index (RSI) sits near oversold territory at around 30, highlighting persistent selling pressure and suggesting sellers retain firm control of the market. The MACD remains negative at around -0.0003 with the Signal Line staying above it, reinforcing the prevailing bearish trend and suggesting momentum remains weak. However, holding external factors constant, TRX could lose support at $0.31 and decline toward $0.30, while if Tron Inc's continued accumulation begins to strengthen demand, TRX could reclaim $0.32 and target $0.35. The combination of technical weakness and institutional buying creates a mixed outlook for the near term.
