【What looks like sideways trading is actually whales rotating their positions】
I saw the exact same price action during the EOS ICO rally at the end of 2017.
The price goes nowhere, sentiment indicators slide, and trading volume shrinks to almost nothing. Retail traders think the market is consolidating before a move, but in reality, whales are quietly adjusting their positions.
That’s exactly where TRX is now.
The weekly average FNG has fallen from 60 to 53. It may look like just a number, but this kind of drop wasn’t caused by retail traders panic-selling—TRX is only 23% below its ATH, so there’s no real reason to panic. It’s whales reducing their positions.
The lackluster trading volume says it all: the people holding significant amounts haven’t made a move in recent days. Those sitting on the sidelines are mostly retail traders and short-term investors.
What does that tell you?
My view of TRX’s use cases hasn’t changed, and the on-chain transaction volume on TRON is still there. Who’s really being affected? Leveraged traders betting on a short-term TRX surge. They were waiting for sentiment to improve and volatility to pick up so they could cash in. Now sentiment has cooled first, and this group of traders will be the first to pull out.
What about the business fundamentals? Honestly, as long as TRX’s fundamentals remain unchanged, this bout of volatility is just a shakeout. But whether it can truly hold up depends on whether whales buy or sell the next time trading volume surges.
On-chain data doesn’t lie. After this round of position rotation, do you think TRX will keep grinding out a bottom, or build up strength for a rally?
I saw the exact same price action during the EOS ICO rally at the end of 2017.
The price goes nowhere, sentiment indicators slide, and trading volume shrinks to almost nothing. Retail traders think the market is consolidating before a move, but in reality, whales are quietly adjusting their positions.
That’s exactly where TRX is now.
The weekly average FNG has fallen from 60 to 53. It may look like just a number, but this kind of drop wasn’t caused by retail traders panic-selling—TRX is only 23% below its ATH, so there’s no real reason to panic. It’s whales reducing their positions.
The lackluster trading volume says it all: the people holding significant amounts haven’t made a move in recent days. Those sitting on the sidelines are mostly retail traders and short-term investors.
What does that tell you?
My view of TRX’s use cases hasn’t changed, and the on-chain transaction volume on TRON is still there. Who’s really being affected? Leveraged traders betting on a short-term TRX surge. They were waiting for sentiment to improve and volatility to pick up so they could cash in. Now sentiment has cooled first, and this group of traders will be the first to pull out.
What about the business fundamentals? Honestly, as long as TRX’s fundamentals remain unchanged, this bout of volatility is just a shakeout. But whether it can truly hold up depends on whether whales buy or sell the next time trading volume surges.
On-chain data doesn’t lie. After this round of position rotation, do you think TRX will keep grinding out a bottom, or build up strength for a rally?