Tron (TRX) stands firm amidst volatility, on-chain indicators show a recovery trend.

The price of Tron (TRX) continues to hold its upward momentum, recording an increase of nearly 1% at the time of writing on Thursday, following a +0.76% gain from the previous session, while the crypto market remains highly volatile. On-chain and derive data show a clear bounce back signal as Tron’s network activity remains stable, and interest from retail investors is gradually returning — reflecting an improving market sentiment and confidence in the upward trend of TRX being reinforced.

The Tron network maintains a stable growth momentum

In the past 30 days, activity on the Tron blockchain has maintained a steady upward trend, as reflected by the consistent increase in the number of active accounts and network revenue.

The Tron accounts are active | Source: TronScanData from TronScan shows that, on average, there are about 3 million active accounts each day during this period.

At the same time, the network revenue on Wednesday reached 8.58 million USD, an increase of 2.35% compared to the previous day, bringing the total revenue for 30 days to 234.55 million USD.

The combination of a solid revenue stream and a dynamic user base is creating a sustainable foundation for the growth of the Tron network, which may strengthen the value of the TRX token.

Tron's daily revenue | Source: TronScanNotably, the supply of TRX is trending towards contraction as the token burn rate exceeds the amount of new issuance. Specifically, on Tuesday, 5.18 million TRX were burned while only 3.91 million TRX were created. This indicates that deflationary pressure is increasing, and according to the law of supply and demand, this trend often acts as a catalyst driving TRX prices upward.

TRX was created to burn | Source: TronScan## Is the interest from retail investors bouncing back?

The demand for TRX continues to fluctuate significantly under the influence of the overall market. According to data from CoinGlass, the open contract (OI) of the TRX futures contract continues to decrease, hitting a level of 340.32 million USD on Thursday. This decline reflects the cautious sentiment of investors, as many choose to reduce leverage or withdraw capital from the market.

However, positive signals have started to appear among short-term traders. The funding rate (OI-weighted funding rate) has turned positive at 0.073%, indicating that the bulls are willing to pay higher fees to maintain their Long positions. If this rate continues to approach the threshold of 0.010% – a level that typically signifies strong buying pressure, the wave of short-term interest could become a driving force to pull OI back up.

Tron Derivative Data | Source: CoinGlass## Tron holds steady amidst the bounce back

Currently, TRX is still holding steady above the support level of 0.3145 USD ( closing level on 6/9), thereby avoiding a deep correction after a 2% drop on Saturday. As of the time of writing, TRX is trading around the 0.3200 USD mark, recording its second consecutive bounce back.

On the daily frame, momentum indicators show that selling pressure is gradually easing. The RSI index is at 41 and is heading towards the neutral zone, indicating that a bounce back signal is forming; if the RSI surpasses the 50 threshold, buying force will be confirmed again. At the same time, the MACD line is also approaching the signal line, signaling the possibility of a bullish cross in the MACD indicator – a sign of trend reversal. The narrowing of the red histogram bars further reinforces the view that the bears are gradually losing strength.

Daily TRX/USDT Chart | Source: TradingViewIn the upward direction, the nearest resistance zone is at the central Pivot level of 0.3287 USD. If TRX can close decisively above this level, the price could head towards the 50-day EMA at 0.3338 USD, and further towards the R1 Pivot Point resistance around 0.3596 USD.

However, the slight decline in the slopes of the 50-day and 100-day EMAs at 0.3338 USD and 0.3261 USD respectively indicates that the upward momentum remains quite modest. In a negative scenario, if TRX loses the support area of 0.3145 USD, the 200-day EMA at 0.3030 USD will become the next important defense level.

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