TRON (TRX) Tests $0.34 Resistance as $1 Billion Buyback Program Drives Bullish Momentum
Timothy Morano Aug 09, 2025 05:29
TRX trades at $0.34 near resistance after a massive $1B buyback announcement fueled an 8% surge, with RSI at 67 showing continued bullish momentum despite minor daily pullback.
Quick Take
• TRX currently trading at $0.34 (-0.56% in 24h) • TRON's RSI at 67 signals strong bullish momentum with room for further upside • $1 billion buyback program announced August 4th continues driving positive sentiment • TRX testing upper Bollinger Band resistance at $0.34
What's Driving TRON Price Today?
The TRX price surge to $0.34 stems directly from TRON's groundbreaking $1 billion buyback program announced on August 4, 2025. This strategic move immediately triggered an 8% rally, pushing TRX from around $0.30 to its current resistance level of $0.34. The buyback program represents one of the largest token repurchase initiatives in cryptocurrency history, demonstrating TRON's commitment to increasing token value through reduced supply.
Adding to the bullish narrative, TRON's first-half 2025 financial performance has been exceptional. The network generated $916 million in revenue while maintaining an $81 billion USDT supply, cementing its position as a dominant force in the stablecoin ecosystem. This financial strength provides the foundation for the ambitious buyback program and validates investor confidence in TRON's long-term prospects.
Despite the recent minor pullback of 0.56% in the past 24 hours, the overall market sentiment for TRX remains highly positive. The current consolidation near $0.34 appears to be healthy profit-taking after the significant gains following the buyback announcement.
TRX Technical Analysis: Bullish Signals Emerge
TRON technical analysis reveals a predominantly bullish setup across multiple timeframes. The TRX RSI currently sits at 67, indicating strong momentum while remaining below overbought territory, suggesting potential for continued upward movement. This RSI reading is particularly encouraging as it shows buying pressure without reaching extreme levels that typically precede corrections.
The MACD indicator supports the bullish thesis, with TRON's MACD line at 0.0092 above the signal line at 0.0091, generating a positive histogram reading. This configuration indicates that bullish momentum is building and could accelerate if TRX breaks above current resistance levels.
TRON's moving averages paint an equally optimistic picture. The current TRX price of $0.34 trades well above all major moving averages, including the SMA 7 ($0.33), SMA 20 ($0.33), SMA 50 ($0.30), and significantly above the SMA 200 ($0.26). This alignment confirms a strong uptrend structure.
The Bollinger Bands analysis shows TRX positioned at 0.8058 of the band width, indicating the token is approaching the upper band resistance at $0.34. While this suggests short-term resistance, a decisive break above could signal acceleration toward the next major resistance level.
TRON Price Levels: Key Support and Resistance
Based on Binance spot market data, TRON support levels provide crucial insight for TRX/USDT traders. The immediate support sits at $0.30, coinciding with the SMA 50 and representing the launching pad for the recent rally. This level has proven resilient and should act as the first line of defense in any pullback scenario.
The stronger TRON support levels are found at $0.26, aligning with the 200-day moving average and the 52-week low area. This represents a critical long-term support zone that has held multiple times throughout 2025.
On the upside, TRX resistance becomes evident at the current $0.34-$0.35 zone. The immediate resistance at $0.35 represents the next major hurdle, while the stronger resistance extends toward the 52-week high of $0.43. Breaking above $0.35 with volume could trigger a measured move toward $0.40.
The daily ATR of $0.01 suggests that TRX typically moves about 3% in either direction during normal trading sessions, providing context for position sizing and stop-loss placement.
Should You Buy TRX Now? Risk-Reward Analysis
For aggressive traders, the current TRX price near $0.34 offers an attractive risk-reward setup. The proximity to the $1 billion buyback catalyst combined with strong technical indicators suggests potential for a breakout above $0.35. Entry near current levels with a stop-loss below $0.30 provides a favorable 1:3 risk-reward ratio targeting $0.40.
Conservative investors might consider waiting for a pullback to the $0.30-$0.32 range, which would align with the SMA 20 and provide better entry value. This approach reduces downside risk while maintaining exposure to the buyback program's long-term benefits.
Swing traders should monitor the TRX/USDT pair for a decisive break above $0.35 with increased volume. Such a move would likely trigger algorithmic buying and could push TRX toward the $0.38-$0.40 range relatively quickly.
Risk management remains crucial given the 67 RSI reading. While not overbought, any negative news or broader market weakness could trigger profit-taking. Setting stops below $0.30 for long positions protects against significant downside while allowing participation in potential upside.
Conclusion
TRX price action reflects the powerful impact of TRON's $1 billion buyback program, with technical indicators supporting continued bullish momentum. The combination of strong fundamentals, exceptional 2025 financial performance, and favorable technical setup suggests TRX could challenge resistance at $0.35 in the coming 24-48 hours. Traders should watch for volume confirmation above $0.35 as the catalyst for the next leg higher, while maintaining disciplined risk management given the token's proximity to short-term resistance levels.
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