Tron’s native token, TRX, is on the brink of an explosive breakout as whale action spikes bullish pressure throughout the market.
The coin has been trading between $0.22 and $0.25 over the past month. TRX is now breaking into critical resistance and trading at $0.2414, gaining 5.06% in the last 24 hours.
Even more dramatically, trading volume has exploded by 26%, reaching $1 billion, which indicates a stampede of investor interest from whales and retail traders alike.
Large investors are buying up TRX aggressively, and this is fueling price movements. Statistics from IntoTheBlock indicate that large transactions have surged 87.6% over one day from 243 to 456.
Even more eye-catching, whale wallets have bought a whopping 2.13 billion TRX in the past 7 days, an astonishing 1378.8% spike. This upsurge in whales indicates faith in TRX’s future potential for growth, and this causes greater buying pressure.
The coming days are crucial for TRX’s future price. If it successfully breaks above $0.25, it could gain even more strength and push toward $0.28. However, if big investors (whales) are pouring money into the Tron network, creating strong buying pressure that is driving TRX’s price up.
The key challenge now is staying above $0.25. As long as TRX remains above $0.25, additional traders may enter, leading to a price rise. But if TRX cannot sustain above $0.25, the positive trend may falter. Then the price may fall to $0.20, marking a probable downtrend as traders begin selling.
With whales purchasing more TRX than ever before and trading volume spikes, the price is at a pivotal juncture. If demand remains robust, TRX may begin a large rally. But if it cannot hold above major resistance, the price may fall instead.
Also Read: 70% of TRX Held by Whales, Will They Let the Price Rise?
