TRON Trading at $0.3389, Testing Key Resistance Zone
TRON (TRX) is currently trading at $0.3389, down 21.4% from its all-time high of $0.4313. The price has shown stability recently, but lacks upward momentum, indicating investors are waiting for a catalyst.
Key Observations
- TRX is testing its historical resistance zone, which could influence its next major movement.
- Daily active addresses on the TRON network have reached a record 2.6 million.
- High user activity suggests underlying demand remains strong despite price struggles.
- A potential breakout target for TRX could be between $0.48 and $0.52 if it closes above its all-time high.
- Maintaining active address momentum is crucial; a decline could pose downside risks.
- A potential altseason may provide the necessary momentum for a breakout.
Whale Activity and Market Dynamics
- Large wallets holding over $100 million in USDT dominate transactions on the TRON network.
- A significant transfer of approximately $3.9 billion in USDT occurred recently, correlating with a 5% rally in Bitcoin.
- Wallets with balances above $100M accounted for nearly 35-36% of total daily activity, similar to August’s inflows.
- This concentration indicates stablecoin flows could signal market positioning shifts into assets like TRX and Bitcoin.