🧵 $TRX Market Update — from a Market Maker’s desk

1/ $TRX just tagged a 5-month high. Momentum’s been strong, but structurally? Overheated. On-chain confirms it.

2/ NVT ratio is climbing. Price is outpacing utility. When that happens, we prep for a correction — not FOMO in.

3/ Liquidity block between $0.268–$0.276 is thick. ~4B $TRX bought there. That zone will be defended.

4/ If $TRX pulls back, we expect bids to stack there. Break below it? Unlikely unless $BTC breaks structure too.

5/ Resistance is clear: $0.286. No strength above it = short-term top. We’ll see sellers re-enter there.

6/ Bullish continuation only happens if we flip $0.286 with real volume. Until then, it’s range-bound.

7/ TL;DR: Overvalued short-term, supported structurally. If you’re market-making this, stay delta-neutral and monitor $0.275 reactions.