TRX Consolidates Near Whale Territory: A Parabolic Move Could Be Near
According to Glassnode, approximately 14 billion TRX are held between $0.26 and $0.27 as the cryptocurrency continues to consolidate close to a crucial accumulation area. This area, which shows a concentration of long-term positioning, is the cost basis heatmap’s strongest support cluster.
At the time of writing, the price of the TRX was $0.2739, just over this anchor, with little opposition in sight. Growing whale exposure, consistent address activity, and a rebounding attitude could influence TRX‘s short-term course as the market moves close to this milestone.
TRX Price Poised for Upside: MACD Flashes Bullish Signal
TRX has maintained its overall bullish structure by continuing to move above its ascending trendline, which it has maintained since March. The trendline and Fibonacci levels between $0.27 and $0.28 are still in place despite recent price declines.
Additionally, the MACD line began to rise above its signal, suggesting that bullish momentum might be returning. Holding this trendline, which has served as dynamic support, would be necessary for a move in the upcoming sessions toward the $0.30 resistance zone.
Whales Quietly Accumulate as Long-Term Crypto Holders Surge Over 38%
Whale holdings increased by 9.59% over the past days, according to the most recent historical concentration statistics. The 38.21% increase in long-term investor addresses is even more noteworthy. The moderate growth of 4.10% in retail wallets indicates less aggressive engagement than that of institutional users. This placement draws attention to the enormous entities’ silent accumulation. If this pattern continues, it may create the foundation for more robust price action when macro and technical conditions improve.
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