TRON Price Fakes Two Rallies as Active Addresses Plummet 21% – Is TRX Doomed?

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TRON Price Fakes Two Rallies as Active Addresses Fall 21%

Key takeaways:

  • TRX at $0.3274 – rejected twice from $0.335+ resistance.
  • RSI at 32.23 – approaching oversold, signal line at 39.49.
  • Volume spike confirmed conviction on the April 22-23 selloff.
  • Active addresses SMA-7 down 21.13%.
  • Price up ~20% in same 74-day period.
  • Active sending addresses: 2.4M.
  • Active receiving addresses: 1.49M.
  • Both sides of network transactions declining simultaneously

TRX has attempted to break through a certain price level twice in the last five days, but failed both times. While the price initially showed promising signs of a rebound with strong trading volume and momentum, buyers weren’t able to sustain the increase and reach a new high. Data from the TRX blockchain has been indicating the reason for these failures for the past 74 days.

As a researcher tracking the TRON network, I’ve observed an interesting trend between February 7th and April 21st. While the price of TRON increased by 20%, the number of active addresses actually decreased by 21.13% – falling from 5.3 million to just under 4.2 million. Essentially, we saw fewer users actively using the network even as the price went up. This disconnect – decreasing usage alongside rising price – is something that typically doesn’t resolve itself without intervention.

Two rallies: Two rejections

On April 19th, TRX briefly reached $0.3370 before falling back down. It attempted to recover on April 21st and 22nd, reaching $0.3355, but faced resistance again. Currently, TRX is trading at $0.3274, just above a support level around $0.3275. The Relative Strength Index (RSI) is dropping to 32.23, nearing oversold territory, and its signal line is also decreasing at 39.49. The recent price drop from April 22nd to 23rd happened with strong selling volume, indicating it wasn’t a gradual decline.

The price chart is now confirming a trend that on-chain data has been showing for the past 74 days: after two unsuccessful attempts to rise, the price is falling, supported by decreasing momentum and increased selling.

The network is losing participants on both sides

Data from CryptoQuant shows a decrease in activity on the blockchain. The number of wallets sending cryptocurrency has fallen from 3.1 million in late March to 2.4 million now. Similarly, the number of wallets receiving cryptocurrency has decreased from 1.85 million on April 13th to 1.49 million today. This indicates a decline in activity from both senders and receivers on the network.

This brings up an important question the price chart doesn’t explain: if fewer wallets on the TRON network are receiving TRX, who is responsible for the recent 20% price increase? The most probable explanation is that traders are using derivatives or simply buying TRX on the spot market without actually interacting with the TRON network itself – they’re treating it as a trading symbol rather than a digital asset used within the network.

This type of buying interest isn’t reflected in the number of active addresses because the funds aren’t actually being transferred on the blockchain. It’s also fleeting – it vanishes quickly because it isn’t supported by genuine use of the network. The recent failed attempts to push the price higher suggest this happened: demand peaked at $0.335 on two occasions, but without increased activity on the network to sustain that level.

The RSI is approaching oversold

TRX’s Relative Strength Index (RSI) is around 32.23, which often suggests a potential short-term price increase. However, being oversold after a ‘double top’ pattern is different than being oversold during a regular price decline. Typically, after a simple decline, an oversold RSI means the price will likely bounce back towards its previous high. But after a double top, an oversold RSI usually only leads to a temporary bounce to a lower high, before failing to break through the price level that stopped it twice before.

If the price of TRX rises from $0.3275 but struggles to break past $0.330, instead of reaching $0.335 again, that would be a third sign of a potential downturn. This sign, combined with the disconnect between price and network activity, and the two previous attempts to rise that failed at the same level, suggests a consistent pattern. All of these factors point to the same conclusion.

Looking at the blockchain data doesn’t predict where the price will go next, but it does reveal a repeating pattern. We’ve seen two price increases driven by buying pressure, not actual growth of the network, and both times they stalled at the same level. Unless we see a rise in active users happening *at the same time* as the price increases – rather than two months later – the reasons to believe TRX will stay above $0.335 remain weak.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Always do your own research and talk to a qualified financial advisor before investing.

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2026-04-23 11:03