100 mln TRX moved to Binance: Where will this Tron accumulation take prices?
2025-07-20 17:11:34
Main Idea
TRX (Tron) is at risk of a price dip due to significant token movements and market sentiment, with potential accumulation indicated by outflows from exchanges.
Key Points
1. 100 million TRX tokens (worth $48.66 million) were moved to Binance and HTX, raising concerns about a potential sell-off.
2. TRX price dropped by 1.85% to $0.32, with a 45% decline in 24-hour trading volume.
3. $22.45 million worth of TRX left exchanges, suggesting possible accumulation by long-term holders.
4. Technical analysis indicates TRX may drop further to $0.2965, with RSI at 55 showing neutral momentum.
5. Traders show strong bearish conviction, with significant long and short positions at $0.3136 and $0.3264, respectively.
Description
Tron faces selling pressure as it loses a key support level.
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