As Tron’s TVL approaches $7 Billion, this concern arises

Even as Tron inches closer to the $7 Billion TVL mark, its recent upside results in a price-RSI divergence – signaling a pivot. Moreover, the lower RSI signals that the bulls are losing their momentum.achieve impressive growth. It has delivered a positive performance in most aspects, including the price action. However, its TVL has perhaps been one of the most important yardsticks for assessing the state of the Tron network.

Tron, in particular, is noteworthy because it has been maintaining an upward trajectory. Interestingly, its TVL managed to achieve aof $6.90 billion in the last 24 hours. This also puts Tron well into the list of fastest growing PoS networks in the crypto markets.Tron’s impressive TVL growth reveals strong confidence in those investing in its ecosystem. The level of confidence is so impressive that it has allowed the network’s native cryptocurrency TRX to outperform most of the competition.

Moreover, TRX’s Open Interest profile confirmed that demand has prevailed for the most part in the last seven days. However, there was a notable dip in buying volume, while selling volume increased considerably in the last 24 hours. The above observations affirmed that the bears might just take the dominance away from the bulls. This added to speculation that TRX was turning bearish. TRX’s Weighed Sentiment confirmed these speculations, as it was closer to its monthly low than its monthly high at press time.If sell pressure does indeed manifest this week, then traders should anticipate the next support level near the $0.084 price level. The same level has previously acted as a significant support and resistance range.

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