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Recently has been reported Tron’s [TRX] The daily transaction limit has doubled since September 2023, increasing from 5 million sub-5 million to reach 9 million. As a result, the revenue from the network was increased.
Whale accumulation and social media involvement also contributed to bull Behind the token.
Source: Inotheblock
Inotheblock data showed that 98% of the holders were in money. Global in/out of money showed that at a price range of 0.288-0.455 USD was purchased a poor $ 4.48 billion.
Compared to $ 28.39 billion, worth $ 7.4 billion, it was poor, which was purchased in the range of $ 0.243-0.28.
This meant that $ 0.24-0.28 was a strong demand zone and the sales pressure may not be too high. The threat may be an activity for profit, but buyers had a general on top.
Source: Glass node
Replacing a net change of position monitors a 30 -day shift in the amount of TRX held in the wallet.
Positive reading, such as reading in March and at the end of May – indicates the influx of tokens to exchange, which usually indicates increased sales pressure.
In the last month, however, the metric has become negative. This shows that TRX is withdrawn from exchanges, accumulation of signaling.
In particular, this trend coincided with the gradual movement upwards in Tron’s price, which is generally considered a bull indicator.
A similar formula of accumulation occurred in October 2024, just before the strong assembly in November and December.
This historical parallel gives investors a reason to be optimistic about the potential for another escape.
This means that TRON has been traded since May. The upper limit of this range, $ 0.2945, remains a key level of resistance that must be interrupted to keep upstrend.
Source: Coinglass
1 monthly liquidation thermal map TRX emphasized potential bull problems.
There were two considerable magnetic zones above their heads. These were areas with a high concentration of liquidation levels represented by warmer colors. The $ 0.29 region was one but $ 0.295-0.3 was a stronger magnetic zone.
This meant that it was very likely that TRX would soon attract higher prices and were looking for this cluster of liquidity.
Then it would be likely that a bear reversal would be a hunts of eager long positions that would be built during the rally. In addition, the 0.3 USD magnetic zone was well lined with a range.
Therefore, traders can look long and earn profits in an area of 0.295-0.3 USD. They can wait for the bear conversion to shorten altcoin.
Alternatively, they can use the bull escape and repetition of $ 0.3 as support before they last long.