The price of TRX has a new potential market catalyst following the announcement of the Canary Staked TRX ETF by CanaryFunds. The new financial product offers exposure to TRX while seeking additional returns through delegated proof-of-stake validation on the TRON network, with net staking rewards reflected directly in the fund's net asset value.
Currently, the TRX price is trading above its 200-day EMA band while encountering a resistance block around the $0.35 level. Technical analysts note that a decisive move beyond this threshold could improve the broader technical setup and turn focus toward the next major level at $0.45, which could potentially push the token into a new price discovery phase surpassing its late-2025 high. Conversely, a rejection at the $0.35 resistance could leave the rally vulnerable, potentially sending the price down toward support levels at $0.31 or $0.26.
Alongside the ETF launch, TRON's on-chain activity has cooled from its June 2026 peak, during which active addresses reached approximately 5.8 million. By early September, that figure had declined to around 4.35 million. Despite the reduction, current network usage remains more than double the roughly 2 million active addresses recorded in early 2024.
While the Canary Staked TRX ETF provides a longer-term demand narrative and network usage remains elevated, market participants continue to monitor whether buyers can clear and hold the key $0.35 resistance level.
