$TRX Tron (TRX) is trading up nearly 1% on Thursday, building on yesterday's 0.76% gains to hover above $0.3200, even as the wider crypto market grapples with volatility. On-chain indicators point to robust network growth and tightening supply, while derivatives show tentative bullish sparks amid deleveraging. These factors suggest TRX could extend its rebound if support holds, with bulls targeting key resistance levels.
#### Tron's Steady Network Growth
The Tron blockchain continues to build momentum, with active accounts averaging around 3 million over the past 30 days, per TronScan data. This uptick in user engagement underscores sustained adoption, particularly for its DeFi and stablecoin ecosystems.
Network revenue climbed to $8.58 million on Wednesday—a 2.35% daily increase—pushing the 30-day total to $234.55 million. This consistent revenue stream, driven by transaction fees and dApp usage, bolsters Tron's utility and could propel TRX demand as the ecosystem expands.
Adding to the bullish case, TRX's supply dynamics are shifting deflationary. On Tuesday, 5.18 million TRX tokens were burned, outpacing the 3.91 million newly generated. This net reduction in circulating supply—intensified by recent volatility—creates upward pressure via basic supply-demand principles, potentially fueling price appreciation if adoption persists.
#### Is Retail Interest Resurfacing for Tron?
Demand remains choppy amid market jitters, reflected in futures Open Interest (OI) dropping to $340.32 million on Thursday, according to CoinGlass. This downward OI trend signals caution, with traders either deleveraging or pulling capital to sidestep risks.
Yet, glimmers of short-term optimism emerge: The OI-weighted funding rate has turned positive at 0.073%, meaning longs are paying a premium to shorts. As it nears the 0.010% threshold—often a marker of overheated buying—this could reignite retail fervor, reversing OI declines and supporting a broader recovery.
#### Tron Holds Steady Amid Renewed Recovery
TRX has stabilized above the $0.3145 support (September 6 close), shrugging off Saturday's 2% dip for two straight days of gains. Momentum tools on the daily chart hint at easing bearishness: The Relative Strength Index (RSI) at 41 is ticking upward toward the neutral 50 line, signaling fading selling pressure. A cross above 50 would solidify bullish resurgence.
The Moving Average Convergence Divergence (MACD) is closing in on its signal line for a possible bullish crossover, while shrinking red histogram bars further confirm momentum's pivot. Upside, TRX may encounter resistance at the central Pivot Point ($0.3287), but a firm close there could challenge the 50-day EMA ($0.3338) and R1 level ($0.3596).
Caveats persist: The 50-day and 100-day EMAs ($0.3338 and $0.3261) lean bearish, hinting at uptrend fatigue. A drop below $0.3145 risks probing the 200-day EMA at $0.3030.
In essence, Tron's blend of rising activity, revenue, burns, and funding positivity paints a recovery roadmap—if OI stabilizes and technicals align, TRX could test $0.33+ soon. #FedRateCutExpectations #TrumpTariffs #BNBBreaksATH #GoldHitsRecordHigh