TRON's TRX Token Stalls at Key Resistance Level Amid Institutional Buying

Tron's TRX token has been struggling under bearish pressure, but recent signs of stability and institutional accumulation have raised hopes for a bullish reversal.

The TRX price is currently trading at $0.3313 with a 24-hour trading volume of $331.15 million and a market capitalization of $31.43 billion, according to data from CoinMarketCap.

Crypto analyst Umair Orakzai notes that the TRX price maintains a bearish bias despite its changing structure, resembling a pattern previously seen on Litecoin after breaking down from its range and bouncing from the Golden Pocket area.

The company's treasury has been reinforced with the purchase of 149,297 TRX tokens at an average cost of $0.3349, pushing the total number of TRX that Tron Inc. owns past 709.9 million tokens.