BULLISH 📈 : Justin Sun Increases TRX Holdings Amid Tron Outperformance

Tron's Strategic Moves and Market Performance

Tron founder Justin Sun highlights the strategy of accumulating TRX as a core treasury asset.
On February 5, Tron Inc. acquired 175,507 TRX tokens at an average price of $0.28, increasing its holdings to over 679.9 million tokens valued at approximately $540 million.
TRX has shown resilience amid a market downturn, outperforming Bitcoin which fell by 19% year-to-date while TRX decreased only by 1.3%.
In January, the overall crypto market cap dropped by 25%, yet Tron's market value declined by just 4%.
Tron network recorded over 100 million monthly active addresses in January, with the stablecoin market cap on the network reaching $84.5 billion, and transaction activity surging to 342 million.

Technical Analysis and Future Outlook

TRX is trading below the 20-day Bollinger Bands midline, suggesting ongoing selling pressure.
The Relative Strength Index (RSI) indicates bearish momentum at 34 but suggests potential for a short-term bounce if selling pressure eases.
Analyst SilverBullet suggests TRX might be overvalued, predicting a possible decline to $0.25 if it breaks below the $0.27 support level.
Conversely, reclaiming the Bollinger midline and crossing the $0.30 resistance could lead to a short-term rally up to $0.32.

TRX’s price chart with RSI and Bollinger Bands