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The price of TRX is about to rise to the sky according to these signs.
Recently, the daily transaction volume on the TRON network (TRX) has surged, doubling from September 2023, from under 5 million to 9 million transactions per day. This has significantly contributed to the revenue increase of the network.
At the same time, the active accumulation activities from whales and the vibrant interaction levels on social media are also providing positive momentum for market sentiment, reinforcing expectations for a sustainable upward trend of TRX.
Specifically, the Global In/Out of the Money tool recorded only about 4.48 billion TRX purchased in the price range from $0.288 to $0.455, a relatively small figure compared to the 28.39 billion TRX ( equivalent to $7.4 billion ) that has been accumulated in the price range of $0.243 to $0.28.
This reinforces the view that the range of $0.24 – $0.28 is acting as a strong demand zone, while the selling pressure above is not too significant. Although profit-taking remains a factor to watch, overall, the buyers are clearly dominating the market.
The TRX sellers have exhausted
Previously, when this indicator showed a positive result (, such as in March and the end of month 5), it meant that TRX was being sent to the exchange, often a sign of increasing selling pressure. However, in the recent month, this indicator has turned negative, meaning that TRX is being withdrawn from the exchange, reflecting strong accumulation activity.
Notably, the trend of withdrawing coins is occurring alongside a slight increase in the price of TRX, a development often seen as a positive sign for the upward trend.
A similar pattern occurred in October 2024, right before TRX surged in November and December. This brings optimistic confidence to investors about the possibility of a breakout in the near future.
However, it is important to note that TRX has still been stuck in a sideways trading range since May. The upper boundary of this range is at $0.294 — a key resistance level that must be surpassed to confirm the continuation of the bullish trend.
Specifically, there are two notable "liquidity zones" above - areas that concentrate a large number of liquidation orders, represented by hot-colored areas on the chart. The area around $0.29 is a clear attraction point, but the region from $0.295 to $0.3 is actually the stronger liquidity cluster.
This indicates that the price of TRX is likely to move up to these areas in order to "seek liquidity" — a common phenomenon before strong volatility.
However, after touching the liquidity zone, a complete downward reversal phase could occur to sweep away the hasty Long positions formed during the price increase. Notably, the $0.3 mark also coincides with the peak of the current price range, further reinforcing the reversal scenario.
Therefore, traders may consider entering a Long position and taking profit in the range of $0.295 – $0.3. At the same time, they may also wait for a bearish reversal to enter a Short position on this altcoin.
Then, traders can take advantage of a bullish breakout and successfully retest the $0.3 area as support, before continuing to enter a Long position.
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