Key Takeaways

Why is TRON showing signs of a potential reversal?

Because Active Addresses surged to 6.23 million while TRX rebounded from channel support, forming a bullish divergence.

What signals confirm growing bullish sentiment in TRX markets?

Taker Buy Dominance and a 1.49 Long/Short Ratio indicated that traders were positioning for a breakout above $0.3236.

The TRON [TRX] network witnessed an extraordinary surge in activity, with Daily Active Addresses skyrocketing to 6.23 million, the second-highest in its history.

This surge in participation came as TRX traded near $0.29, following a steady decline from its $0.36 local high at press time.

Additionally, the contrast between rising network activity and price weakness created a bullish divergence, hinting that the asset’s intrinsic value might be outperforming market pricing.

Historically, such divergences have marked reversal zones, and TRON’s ecosystem engagement could be setting the stage for a near-term recovery.

TRX eyes recovery from descending channel support

After several weeks of selling, TRX rebounded from the lower boundary of a descending channel that has acted as dynamic support since August.

The recent bounce near $0.29 signaled renewed buying interest. On the daily chart, RSI stood at 33.42, as of writing, close to the oversold zone where reversals often emerge.

This setup reflected accumulation efforts by traders defending this structure. However, for momentum to strengthen, TRX must close above $0.3236.

A breakout above that level could trigger a move toward $0.3533 and $0.37, completing a potential mid-term reversal pattern.

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Author: Evans Boto