Altcoins News
By Steven Anderson
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TRON (TRX) may be gearing up for a significant price rally in the near future, with several on-chain indicators and technical signals aligning to support a bullish outlook.
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Recent network data shows a strong uptick in activity for TRON. Since September 2023, the blockchain’s daily transaction volume has nearly doubled, growing from under 5 million…
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One of the clearest signs of bullish momentum is the ongoing accumulation by whales. Data from blockchain analytics platform IntoTheBlock reveals that 98% of current TRX holders…
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More specifically, IntoTheBlock’s Global In/Out of the Money model shows that only 4.48 billion TRX were purchased in the $0.288 to $0.455 range.
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Exchange behavior has also contributed to the bullish narrative. Glassnode’s 30-day Exchange Net Position Change metric has turned negative over the past month, indicating that…
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Although these fundamental signals are promising, technical traders are also keeping a close eye on key levels.
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Data from CoinGlass’s liquidation heatmap adds another layer to the analysis. The one-month liquidation chart shows two major “magnet zones” where liquidation levels are…
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However, the heatmap also warns of a possible reversal once this liquidity is tapped. Traders entering long positions around the $0.295 to $0.30 level should remain cautious.
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For active traders, this sets up a few potential strategies. Long entries could be considered while TRX remains above the $0.243–$0.28 demand zone, with targets near the $0.295–$0.
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In summary, TRON’s on-chain and technical indicators currently paint a bullish picture. Whale accumulation, reduced exchange balances, and favorable liquidity positioning suggest…
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