|
Getting your Trinity Audio player ready...
|
- TRX’s cooling volumes mirror past pre-rally accumulation phases.
- An inverse head-and-shoulders pattern targets a move above $0.355.
- Rising Futures interest and social buzz reinforce bullish sentiment.
Stay ahead with real-time updates and insights—Join our Telegram channel!
After weeks of muted activity, TRON (TRX) may be preparing for its next major move. Recent market patterns show familiar signs that often precede strong rallies, as traders and analysts point to a “quiet accumulation” phase beneath the surface.
Cooling Volumes Hint at Institutional Accumulation
Since early October, TRX’s trading volumes have steadily declined—a signal often linked to accumulation by larger market participants. This kind of low-volatility environment has historically preceded explosive price action. Similar cooling phases in July 2021 and October 2024 led to rallies of more than 100%, setting a compelling precedent for the current setup.
The broader uptrend remains intact, suggesting this consolidation could be the calm before another breakout storm.
Technical Pattern Points to a Breakout Zone
On the charts, TRX has formed an inverse head-and-shoulders pattern, supported by an ascending trendline since mid-August. The key resistance—or neckline—sits near $0.355, and a confirmed breakout above this level could open the path toward $0.373 and $0.40.
Source: TradingView
At press time, TRX traded near $0.343, holding firm above short-term supports at $0.331 and $0.335. This steady structure shows active demand, with buyers stepping in on every dip—a sign of growing market confidence.
Derivatives and Social Metrics Reinforce Bullish Outlook
Data from CryptoQuant indicates rising Futures buying pressure, confirming that leveraged traders are positioning for upside moves. Historically, when spot volume cools while Futures activity rises, a strong breakout tends to follow.
Adding to this, social dominance data from Santiment shows TRX mentions gradually climbing to 0.422%, reflecting a renewed buzz within the crypto community. This resurgence in sentiment, combined with technical and on-chain alignment, strengthens the bullish outlook.
All signs point toward a market ready for expansion. If TRX closes decisively above the $0.355 neckline, it could validate this setup as the launchpad for its next rally. With momentum building quietly, the coming days may determine whether TRON breaks free into a full bullish phase.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pepe Price Holds Strong: Key Support and Resistance Levels to Watch
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
