TRON Price Stable Amid Regulatory Shifts, 0.4% Gain

TRON’s [TRX] price has been relatively stable, trading around $0.2856 with a marginal increase of 0.4%. This stability comes amidst a backdrop of regulatory actions and market shifts, with TRON being one of the few major cryptocurrencies in the green. The regulatory environment has been a significant factor influencing the cryptocurrency market. In Sweden, regulatory actions have been taken to ensure compliance with legal obligations, which could impact the trading of cryptocurrencies. Additionally, the Markets in Crypto Assets (MiCA) bill, set to be implemented later this year, introduces new rules focusing on stablecoins. These regulations aim to maintain a stable value against traditional currencies, which could have implications for the broader cryptocurrency market, including TRON.

The stability of TRX's price, despite the on-chain activity, suggests that the market may be consolidating before a potential breakout. Analysts have noted that the price action alone has fueled speculation of an imminent breakout, and the completion of Stage 3 of a project, with over 83% progress, indicates that a price jump is imminent. Early adopters have a narrow window before the next pricing tier kicks in, which could drive demand for TRX.

TRON’s [TRX] daily transaction count doubled from September 2023, increasing from a sub-5 million count to reach 9 million. The network revenue was boosted as a consequence. Whale accumulation and social media engagement also contributed to the bullishness behind the token. Data from IntoTheBlock showed that 98% of holders were in the money. The Global In/Out of the Money showed a paltry 4.48 billion TRX were purchased in the $0.288-$0.455 price range. This meant that the $0.24-$0.28 was a strong demand zone, and the selling pressure overhead might not be very high. Profit-taking activity could be a threat, but buyers had the upper hand overall.

The Exchange Net Position Change tracks the 30-day shift in the amount of TRX held in exchange wallets. A positive reading, like those seen in March and late May—indicates token inflows to exchanges, typically suggesting increased selling pressure. Over the past month, however, the metric has turned negative. This points to TRX being withdrawn from exchanges, signaling accumulation. Notably, this trend has coincided with a gradual upward movement in TRON’s price, which is generally considered a bullish indicator. A similar pattern of accumulation occurred in October 2024, just before a strong rally in November and December. This historical parallel gives investors reason to be optimistic about the potential for another breakout. That said, TRON has been trading within a range since May. The upper boundary of this range, at $0.2945, remains a key resistance level that must be broken for the uptrend to continue.

The 1-month liquidation heatmap of TRX highlighted potential trouble for the bulls. There were two sizeable magnetic zones overhead. These were areas with a high concentration of liquidation levels, represented by warmer colors. The $0.29 region was one, but the $0.295-$0.3 was a stronger magnetic zone. This meant that it was highly likely that TRX prices would gravitate higher soon, seeking this liquidity cluster. Thereafter, a bearish reversal would be likely, to hunt the eager long positions that would build up during the rally. Moreover, the $0.3 magnetic zone lined up well with the range highs. Hence, traders can look to go long, and take profits in the $0.295-$0.3 area. They can wait for a bearish reversal to short the altcoin. Alternatively, they can use a bullish breakout and retest of the $0.3 level as support, before going long again.