๐ด
๐ฉ๐ The sell pressure on TRX today is primarily due to several key factors:
1๏ธโฃ TRX is currently near a critical resistance level around $0.35, which has historically been a strong barrier where traders often take profits, leading to short-term selling pressure and price pullbacks. Technical indicators show overbought conditions, signaling some traders are locking in gains to avoid potential near-term corrections.
2๏ธโฃ Whale activity has contributed to selling pressure, with large holders offloading significant amounts of TRX in recent weeks. For example, whale wallets sold approximately 390 million TRX in July, and notable outflows to exchanges in August have further increased supply on the market.
3๏ธโฃ Profit-taking is also encouraged by high relative strength index (RSI) values above 70, suggesting the market is overbought and susceptible to pullbacks.
4๏ธโฃ Despite these short-term selling pressures, TRON's ecosystem fundamentals remain strong, including its dominant role in stablecoin (USDT) transactions, institutional interest boosted by a Nasdaq listing, and deflationary tokenomics with 40 billion TRX burned so far in 2025.
๐ข
๐ง๐ In summary, the sell pressure today is mainly driven by technical resistance near $0.35, profit-taking by traders amid overbought conditions, and selling from whale holders, though longer-term prospects remain cautiously optimistic if these resistance levels are broken .
๐ง๐ฉ $TRX ๐ด ๐ข ๐ ๐ต ๐ฃ
๐ช๐ฆ #TRX ๐ฅ ๐ฉ ๐ง ๐ฆ ๐ช
๐ช๐ฅ #AMARVYAS8 ๐ฅณ๐๐๐.