$TRX Fell Below Its Pre-Hack Price. Buy the Overhang or Avoid?
TRX is near $0.31, back below where it traded before the Binance hack. The hacker bought a large stash of TRX with stolen USDT at about $0.367, and TRX can't be frozen. Before you buy the dip, here's the full picture.
Support: $0.3017, then $0.30
Resistance: $0.3216, then $0.33 and $0.34
Bull: reclaims $0.33 (the pre-hack level), then $0.34 and the hacker's entry near $0.367.
Base: ranges between $0.30 and $0.32 while the stash is unresolved.
Bear: loses $0.30 and heads toward $0.29.
TRADE IDEA
Don't catch the knife. Wait for support to hold.
Entry: $0.300-$0.308
Stop: daily close below $0.292
Target: $0.330, then $0.340
Risk/reward: about 2.2:1 to the first target
Keep size small.
RISKS
โข The hacker still holds about 475M TRX (about 0.5% of supply), and 120M TRX moved to an unknown wallet
โข Hacker selling can come at any time, and TRX can't be frozen
โข The Tron network was used to launder funds, which brings headline risk
โข Weak market, with BTC near $78K
MY TAKE
Fundamentals are solid. Tron carries about $96B in stablecoins, and Tron Inc. is buying TRX. But the price is tied to one wallet cluster until it's resolved. Buy support with a tight stop, don't catch the knife. Patience beats FOMO.
Would you buy the dip or stay out?
Not financial advice. DYOR.
#TRX $TRX