100 mln TRX moved to Binance: Where will this Tron accumulation take prices?

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.