TRX Holds 25% Below ATH as Bitcoin Drops 51%

As reported by CoinDesk, TRX price trades inside an ascending triangle on the weekly chart, which typically resolves to the upside. The pattern shows horizontal resistance near $0.365 and a rising trendline that has held since mid-July 2024. Within the triangle, a three-drives pattern has formed with charted projections pointing to a possible resolution around mid-August 2026. On the daily chart, TRX has traded inside a rising parallel channel since November 2025, recently slipping to the lower band and the 0.5 Fibonacci retracement near $0.32. The next support level sits just below the 0.382 Fibonacci at roughly $0.31.

According to CoinDesk analysis, on-chain metrics support the bullish technical outlook. Active addresses have trended higher since mid-2024, rising from a base near 2 million toward 3 million and above. After a dip in April 2026, active addresses surged back into the 3 million range, with the recent price pullback not dragging usage lower. Exchange net position change has turned negative across all exchanges over recent weeks, indicating coins are leaving exchanges rather than arriving. This represents accumulation behavior as holders move coins off exchanges when they intend to hold, contrasting with the positive readings that often mark profit-taking near local tops.

As reported by CoinDesk, TRX needs a gain of roughly 34% to reclaim its $0.43 peak. A clean break above $0.365 would open room toward the $0.45 all-time high, while the rising trendline that has guided price for almost two years remains the key structure to watch. The Relative Strength Index (RSI) has dropped to a long-term support trendline at the edge of bearish territory, with a bounce there favoring buyers. However, a clean loss of support levels would raise the risk of further volatility, as the 0.382 Fibonacci at roughly $0.31 represents the next floor.