This $142 Million Whales' Move Could Soon Ignite Demand Surge for Tron (TRX)!đ
Tron (TRX) has been on a three-week winning streak, signaling a potential breakout above a crucial price level.
Consistent accumulation by large investors, or "whales," is driving up TRX's price. These whales, holding between $100,000 and $10 million in TRX, have added over $160 million worth of TRX to their wallets in the past month. This brings their total holdings to near yearly highs.
Investors are closely watching for a bullish signal that could spike demand. The Global In/Out of the Money (GIOM) indicator shows about 1.14 billion TRX, worth over $142 million, are on the brink of profitability. This supply, purchased between $0.123 and $0.127, could drive demand once it turns profitable, pushing TRX prices even higher.
Currently trading at $0.125, TRX is approaching the key resistance level of $0.127. Breaking through this resistance could propel TRX towards $0.130, and turning $0.130 into a support level could set the stage for a run to its all-time high of $0.144.
However, if TRX falls below its month-long uptrend line, it could dip to $0.121. Breaching this support would invalidate the bullish outlook, potentially sending TRX down to $0.116.
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