TRON can rally higher, but only if TRX breaks THIS resistance
Main Idea
TRON's TRX faces a critical resistance level at $0.3177, with potential for a rally if it breaks through, but risks of a pullback if it fails. Whale activity and leverage imbalances add to market volatility.
Key Points
1. TRON's TRX is testing a key resistance level at $0.3177, with a close above $0.3235 needed to confirm upward momentum.
2. Whale activity has surged, with $1M+ TRX transactions increasing by 404%, often preceding major price movements.
3. The derivatives market shows speculative sentiment, with a Long/Short Ratio of 1.83 on Binance, indicating potential for a short-term correction.
4. Liquidation clusters near $0.317 and $0.328 could trigger significant price movements, with a breakout above $0.328 potentially accelerating gains.
5. TRON's user activity remains strong, with daily smart contract engagements stabilizing at 2.35 million, but transfer volumes are erratic, influenced by large capital movements.
Description
TRON's user activity remains strong, but whale spikes and leverage imbalances could sway momentum.
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