- Tron’s whale activity surged with 96% of holders making profits.
- TRX’s bullish momentum targets $0.1645 resistance after retesting key trendline support.
Tron (TRX) is gaining tremendous traction, and recent indicators show why this altcoin is gaining attention.
96% of TRON holders profited from TRX’s press time price. Additionally, large transactions surged 196% in the last 24 hours.
This upward trend indicates growing interest among major players in TRX.
Source: IntoTheBlock
Massive transaction explosion of 196%
The recent surge in large transactions indicates increased whale participation in TRX.
Over the past 24 hours, altcoins have recorded a rise of 196%, suggesting that institutional investors and large-scale traders are in an accumulation phase.
Source: IntoTheBlock
In most cases, whale accumulation precedes major price movements, and this is also the case with Tron, which continues to see bullish momentum.
Active address in transit
Not only are whales moving, but active addresses have also increased by 10%.
This increase in network participation is another optimistic sentiment that suggests interest and use of the TRX blockchain is growing.
An increase in active addresses could indicate that more users are joining Tron, driving the price upward.
Source: IntoTheBlock
Tron is targeting the $0.1645 resistance level.
That’s not all, Tron also made huge gains after retesting the rising trendline support at the $0.1563 price level.
The altcoin continues to build strong bullish momentum and currently sees the next target at the $0.1645 resistance level.
Read Tron (TRX) price prediction for 2024-2025
If TRX’s upward trajectory continues, a break above this resistance level could lead to further price gains by combining whales and overall network activity.
Source: IntoTheBlock
TRX may continue its bullish run as metrics point to strong network fundamentals.