Analyst Explains Reason Behind Tron Price Sluggishness — Are TRX Bears Now In Control?
Summary
Tron (TRX) has been recovering since mid-March, reaching a local high above $0.28 in May. Recent market sentiment has shifted, leading to a decline in TRX value by as much as 5.48% over 48 hours. On-chain analysis indicates a transition from buyer dominance to seller dominance, as reflected in the Spot Taker CVD metric. This shift became evident around May 22nd, resulting in a steady price decline for Tron. Current on-chain activity is neutral, but continued negative trends in CVD could signal further price corrections. Investors are advised to monitor sell pressure closely, as it may increase volatility and lead to liquidations. As of the latest data, TRX trades at $0.2656, down over 1% in the past week.
