To add to the ongoing sentiment, the network also managed to show significant development over the last 30 days as per data from Santiment. TRX’s chart from the data intelligence platform highlighted TRX’s development activity. As can be seen, TRX’s development activity shot up significantly on 29 June and stood at 1.23 at press time.
Additionally, the weighted sentiment around TRX also saw smaller yet consistent surges over the last month. At the time of writing, TRX’s climbing weighted sentiment indicated the market favoring the altcoin. However, the drop in social dominance stood in the way of TRX’s holistic development card.Source: SantimentAt the time of writing, TRX was positioned in a secure place with indicators in favor of the altcoin.
Additionally, the Relative Strength Index stood above the neutral line at 58.93. This was an indication that there was some buying pressure in the market. However, its sideways action could be some cause for concern.Upon considering the movement of the Money Flow Index , it could be seen that the indicator showed every sign of retracting from the oversold region. This could be an indication that buying volume was in for a reversal.