CandleFocus

Tron (TRX) Struggles to Maintain 4% Gains as Coin Holding Time Drops

Tron's native coin, TRX, has experienced a 4% increase in price over the past week. However, on-chain metrics suggest that this bullish momentum may not last. The decline in Tron's Coins Holding Time by 70% indicates a rise in selling activity and decreased investor optimism. The Chaikin Money Flow indicator also shows a bearish divergence, indicating weak buyer support. Additionally, the coin's exchange netflow has surged, suggesting increased selling pressure. TRX is currently attempting to break above the resistance level at $0.1645, but increasing selling pressure may make this challenging and push the price towards the support level at $0.1555. However, if market sentiment turns bullish, TRX may breach the resistance line and aim for $0.17.

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