TRX Price Stuck at $0.34 Despite ETF Launch and Futures Trading

The price of TRX has been stagnant at $0.34, despite several catalysts that should be boosting it. The recent launch of the first U.S. spot staked TRX ETF on the Cboe BZX Exchange gathered over $50 million in assets in just two weeks, and TRX futures began trading on Russia's MOEX exchange.

However, the market has yawned at this news, and the chart refuses to move. The technicals are stacked against TRX, with every moving average within a few cents of spot price. This indicates that the market is exhausted and directionless.

The RSI of 60.34 sounds constructive, but it's a trap. The coin already traded near $0.35 recently, got rejected, and rolled back. The RSI never made new highs with it, a textbook divergence signal that buyers are losing conviction on each successive test.

According to Anton Kharitonov, until a clear breakout above $0.3565 is seen, the risk of a pullback is elevated. With support at $0.3471 and the Ichimoku Kijun floor at $0.3344, the range is clear and narrow.