Tron’s native token, TRX, is on the verge of a significant price movement as whale interest reaches new highs. The token has been trading between $0.22 and $0.25 over the past month, and with the latest spike in whale activity, it seems poised for a breakout. Currently, TRX is trading at $0.2414, marking a 5.06% gain in the past 24 hours.
Whale Activity Fuels Bullish Momentum
The most notable trend for TRX is the explosion in trading volume, which has surged by 26%, now reaching $1 billion. This influx of capital reflects a strong interest from both whale investors and retail traders. Large transactions have increased by a staggering 87.6% in just one day, rising from 243 to 456.
Whales Buy Up TRX in Large Quantities
In the past 7 days alone, whale wallets have accumulated a massive 2.13 billion TRX, an eye-popping 1378.8% surge in purchases. This aggressive accumulation of TRX by large investors signals strong belief in the token’s future growth potential. As these whales continue to fuel buying pressure, TRX’s price movement is gaining momentum.
Key Resistance and Future Price Outlook
TRX is currently facing critical resistance around the $0.25 level. If it can break above this price point and maintain its position, the token could surge further, potentially reaching $0.28. The next few days will be crucial for determining whether TRX can sustain this bullish momentum.
If TRX holds above $0.25, it may attract even more traders, which could drive the price higher. However, failure to maintain above this resistance could result in a retracement, with the price potentially falling to $0.20, signaling a possible downtrend as traders begin to sell.
With whales continuing to buy TRX aggressively and trading volume on the rise, the token is at a critical juncture. The coming days will reveal whether demand can sustain the upward pressure or if resistance levels will lead to a price pullback.
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