This month, most altcoins have made significant lows, but there are exceptions. One of them is $TRX .

Concerns over more than $10 billion worth of BTC being sold on cryptocurrency exchanges in July accelerated the sell-off. So, what is the current situation of #trx near the end of June?

TRX price is currently trading at $0.12, having peaked 30 days ago and has risen approximately 10% this month. On-chain data shows that the TRX price increase is supported by increased demand from market participants. While BTC’s daily RSI is at yearly lows, TRX is above the neutral zone.

Overbought levels are at 70 on the RSI and 66.25 on the TRX. This confirms the strength of demand.

The RSI is at 66.25, indicating accumulation is underway, which is causing some investors to take profits. Although TRX inflows to exchanges increased by 4% in 30 days, this did not trigger a major price drop. As of the time of writing this post, there are 181.8 TRX on the exchange.

The Parabolic Stop and Reversal (SAR) indicator also confirmed buying pressure. This indicator tracks price trends and provides investors with directional insights. The only negative at the moment is that BTC has not yet surpassed $62,500. If BTC falls below $60,000 again, it could dampen buyer interest.

If the rally continues, the first key hurdle for the bulls will be $0.127. This level was last tested in May and prices have since fallen by more than 13%. Support is currently solid at $0.118. However, if this support is lost, the price could drop to bottoms at $0.110 and $0.105.

Further losses could lead to support at $0.0965. BTC prices typically don’t see big increases in the summer. Considering that more than $10 billion is likely to be sold in July, we may not see general market support for TRX in the coming weeks. However, these coins sometimes go against mainstream expectations.

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