Tron’s Price Outlook: Will Whales Drive TRX Higher?
Tron’s price has been on an upward trajectory for more than three weeks, indicating a breakthrough above a crucial price point. This surge can be attributed to the consistent accumulation by whales in the market. Here’s a closer look at how Tron whales could potentially influence the price hike:
Tron Whales Accumulating TRX
- Whale addresses holding TRX worth over $100,000 and under $10 million have been steadily adding TRX to their wallets.
- These addresses have accumulated more than $160 million worth of TRX in the last month, nearing their highest holdings of the year.
Anticipated Bullish Signal
- Investors are eagerly awaiting a crucial bullish signal that could further drive demand for TRX.
- According to the Global In/Out of the Money (GIOM) indicator, around 1.14 billion TRX are poised for profits.
Price Prediction for TRX
- TRX is currently trading at $0.125, inching closer to breaching the resistance at $0.127.
- Breaking this resistance level would trigger a potential rise in price towards $0.130 and beyond.
- Flipping $0.130 into support could pave the way for TRX to reach its all-time high of $0.144.
Uncertainty in Price Movement
- If Tron’s price loses the month-long uptrend line, it could retreat to $0.121.
- This scenario would negate the bullish outlook and potentially drive TRX down to $0.116.
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