Tron price forecast: will the $1.4 billion in profit taking dent the TRX bull run?
Main Idea
Tron (TRX) remains stable at $0.33 despite $1.4 billion in profit-taking by long-term holders, supported by strong network adoption and market resilience.
Key Points
1. Tron (TRX) holds steady at $0.33 despite $1.4 billion in profit-taking within 24 hours, driven by long-term holders from the 2020–2021 bull cycle.
2. The market has absorbed the selling pressure without significant price disruption, with TRX futures open interest increasing from 1.49 billion to 1.56 billion TRX since August 1.
3. Tron now handles over 60% of global Tether (USDT) transactions, with $81 billion in USDT circulating on its network, reinforcing its role as a fast, low-cost platform.
4. Technical indicators suggest TRX must maintain support above $0.3189, with potential resistance levels at $0.3341 and $0.3505, while a breakdown below $0.3189 could lead to a drop to $0.3090.
5. Corporate adoption is growing, with SRM Entertainment integrating TRX into its treasury strategy, further supporting Tron's market position.
Description
The Tron (TRX) blockchain has found itself at the center of attention due to a historic wave of profit-taking that has emerged in the past few days. While many top cryptocurrencies have struggled to maintain momentum, TRX has held steady at around $0.33, even as over $1.4 billion in profits were realized in just a single 24-hour window. This dramatic wave of selling has triggered fresh debate in the market. Is this the beginning of a slowdown, or merely a healthy reset during a broader uptrend? ...
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