$TRX is holding $0.3386 like it's glued there, four sessions after that level flipped from ceiling to floor.
here's the mechanism i don't think people are pricing yet. TronBid just opened two-sided trading on its TRON energy marketplace, per a 26 aug Chainwire release, so you can rent energy out or sell it outright. cheaper energy means cheaper USDT transfers on TRON, and TRON already carries more stablecoin settlement than any other chain. more transfers pull more energy demand, and that keeps TRX getting staked or burned to supply it.
the tape agrees. volume's running 1.38x the prior 20 days, daily RSI's at 61, MACD histogram positive, and the screener scores this setup 10 out of 14. TRX is up 0.3 points on BTC over the week while most alts bled.
right now $TRX trades $0.3413, just under the 24h high of $0.3423. if it keeps holding $0.3386, i think it grinds to the 10-day swing high at $0.3502 on this move. if it loses $0.3386, i'm wrong on this and there's nothing to defend, and anyone long from here is watching the 24h low at $0.3374 go next with no floor under it.
holding $0.3386 or losing it?
here's the mechanism i don't think people are pricing yet. TronBid just opened two-sided trading on its TRON energy marketplace, per a 26 aug Chainwire release, so you can rent energy out or sell it outright. cheaper energy means cheaper USDT transfers on TRON, and TRON already carries more stablecoin settlement than any other chain. more transfers pull more energy demand, and that keeps TRX getting staked or burned to supply it.
the tape agrees. volume's running 1.38x the prior 20 days, daily RSI's at 61, MACD histogram positive, and the screener scores this setup 10 out of 14. TRX is up 0.3 points on BTC over the week while most alts bled.
right now $TRX trades $0.3413, just under the 24h high of $0.3423. if it keeps holding $0.3386, i think it grinds to the 10-day swing high at $0.3502 on this move. if it loses $0.3386, i'm wrong on this and there's nothing to defend, and anyone long from here is watching the 24h low at $0.3374 go next with no floor under it.
holding $0.3386 or losing it?
