Altcoins News
By Maheen Hernandez
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Key technical barrier: $0.37. On the daily chart, TRX has formed a cup-and-handle pattern, a bullish continuation setup.
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Signs of accumulation strengthen the case. Exchange flows show investors quietly positioning for a bigger move.
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Derivatives hint at a short squeeze setup. Interestingly, derivatives traders are leaning bearish.
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TRON’s path forward. All signals point to TRX preparing for a decisive breakout.
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TRON (TRX) is moving closer to a major breakout level as whale-sized wallets, known as orca wallets, continue to dominate the network’s USDT flows.
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The milestone exceeds August’s 45% dominance, which coincided with an 8% rally in Bitcoin. Historically, such heavy wallet activity has pointed to liquidity shifts into…
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At press time, TRX traded near $0.338, consolidating after a steady climb over recent weeks.
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On the daily chart, TRX has formed a cup-and-handle pattern, a bullish continuation setup. The neckline sits between $0.356 and $0.37, creating a crucial breakout zone.
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Adding to the bullish case, TRX has also shaped a falling wedge, a pattern that typically resolves upward when demand strengthens.
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Momentum indicators are neutral but encouraging. The Relative Strength Index (RSI) is holding around 46, suggesting the token has room to expand if buying pressure increases.
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Exchange flows show investors quietly positioning for a bigger move. On September 4 alone, TRON recorded almost $10 million in net outflows, meaning more tokens were moved off…
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This trend often signals accumulation, as traders move assets into cold storage and reduce immediate selling pressure.
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Spot market behavior has remained confident despite short-term hesitation, with consistent outflows typically preceding periods of heightened volatility.
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Interestingly, derivatives traders are leaning bearish. TRX’s OI-Weighted Funding Rate turned negative, meaning short positions currently dominate the market.
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While that may seem discouraging, it could set the stage for a short squeeze. If spot buying continues and TRX breaks above $0.
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