The Tron price has continued on its recovery path since reaching a bottom in mid-March, steadily climbing almost every week. Mirroring the improving crypto market sentiment, the price of TRX maintained a level of stability in its bullish momentum throughout the month of May as it slowly ascended to a local high above $0.28.\u00a0<\/p>\n
However, the slow-and-steady growth<\/a> of the cryptocurrency was met with a significant obstacle over the past week, reflecting what seems to be a return of bearish sentiment in the altcoin market. Here\u2019s a look at the possible reason why the Tron price might be struggling at the moment.<\/p>\n In a Quicktake post on the CryptoQuant platform, on-chain analyst Burak Kesmeci published<\/a> data from his analysis, pegging Tron\u2019s dip in value to as high as 5.48% in 48 hours. Kesmeci\u2019s analysis revolved around the Spot Taker CVD (Cumulative Volume Delta, 90-Day) metric, which tracks by volume the net difference between market buys (Taker Buy) and market sells (Taker Sell) over a period of 90 days.\u00a0<\/p>\n According to the crypto pundit, a positive and rising value of the CVD metric indicates a higher Taker Buy volume and the dominance of buyers in the market. On the flip side, a negative or dropping value of the on-chain indicator reflects a higher Taker Sell volume and suggests that sellers are overwhelming the market.\u00a0<\/p>\n Data from Kesmeci\u2019s publication shows how the market devolved from being dominated by the buyers<\/a>\u00a0to being bearish. The chart below shows a transition from green bars (Taker Buy Dominant) to red bars (Taker Sell Dominant).<\/p>\n The shift from buys to sells became evident from around May 22nd and has since intensified, leading to a steady decline in the price of Tron. However, the Cumulative Volume Delta (marked in gray) has shown neutral on-chain action over the last few days.<\/p>\n Kesmeci, in his conclusion, stated that if this negative CVD trend were to continue, it could signal further correction in Tron\u2019s price. The relatively neutral state of current on-chain activity, though, suggests that investors\u2019 uncertainty about the future trajectory of the cryptocurrency<\/a>.<\/p>\n However, investors should still pay rapt attention as a further increase in sell pressure could heighten volatility and, consequently, lead to liquidations.\u00a0As of press time, Tron trades at $0.2656, reflecting a price rise of approximately 1% in 24 hours. According to CoinGecko data, the TRX token is down by more than 1% in the past seven days.<\/p>","protected":false},"excerpt":{"rendered":" The Tron price has continued on its recovery path since reaching a bottom in mid-March, steadily climbing almost every week. Mirroring the improving crypto market sentiment, the price of TRX maintained a level of stability in its bullish momentum throughout the month of May as it slowly ascended to a local high above $0.28.\u00a0 However, […]<\/p>\n","protected":false},"author":0,"featured_media":70741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-70740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/70740"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70740"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/70740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/70741"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tron Sellers Gain Traction: Spot CVD Data<\/h2>\n
Caution In The Market Warranted<\/h2>\n