TRX is under selling pressure after losing local support, with over 22.45 million USD TRX withdrawn from the exchange, indicating the accumulation potential of whales.
TRX price could drop nearly 7%, heading towards 0.2965 USD if the current trend continues. A decrease in trading volume and strong cash withdrawals indicate that the market is in a technical adjustment phase.
MAIN CONTENT
Over 22.45 million USD TRX withdrawn from exchanges, a sign of potential accumulation.
TRX price decreased by 1.85%, and could continue to drop to 0.2965 USD if it loses technical support.
Traders lean towards short-selling, with short-term bearish pressure dominating.
What is the local support loss for TRX and what are the important market movements?
According to reports from TinTucBitcoin and WhalesAlert data, there was a series of transactions transferring a total of nearly 150 million Tokens TRX, equivalent to 48.66 million USD, from an anonymous wallet to the HTX exchange, then continuing to transfer 99,999,999 TRX (32.44 million USD) to Binance. These large transactions are often associated with the potential for sell-offs or asset reallocation, putting pressure on prices.
Moving millions of USD TRX to major exchanges like Binance often reflects preparations for selling or converting large amounts of Tokens, directly affecting market prices.
Blockchain market analyst, TinTucBitcoin, 20/07/2025
How is TRX undergoing adjustments according to technical analysis?
Analysis of data on TradingView shows that TRX broke the support level near 0.323 USD on the 4-hour chart, opening up the possibility for further declines. The RSI index is at 55, indicating a balanced state, neither overbought nor oversold, suggesting that traders are waiting for the next breakout or reversal signal. If it declines further, the price could reach the area of 0.2965 USD, equivalent to a 7% drop.
The breakdown of technical support at 0.323 USD paves the way for the next wave of price decline for TRX in the short term.
Chief Analyst, TinTucBitcoin, 20/07/2025
What are the cash flow figures and trading activities of TRX on the exchange?
Data from CoinMarketCap and CoinGlass show that TRX's 24-hour trading volume decreased by 45% compared to the previous day. At the same time, up to 22.45 million USD TRX was withdrawn from the exchange, reflecting the accumulation behavior of long-term investors. This helps to reduce selling pressure while demonstrating positive underlying confidence in the medium term.
What is the market sentiment and trading position of TRX investors?
According to CoinGlass, short-sellers currently dominate with about 4.10 million USD in short orders at a price of 0.3264 USD, while long orders are valued at 3.25 million USD concentrated around the 0.3136 USD mark. This selling pressure signals the potential for short-term price decline and traders' caution in response to market developments.
Frequently Asked Questions
Could the price of TRX drop further?
Technical analysis and market sentiment indicate that TRX price could decrease by about 7% if the support level of 0.323 USD is not maintained.
What does the withdrawal of TRX from the exchange mean?
The withdrawal of over 22 million USD TRX from the exchange is seen as a sign of accumulation, reducing selling pressure and potential for long-term price increase.
What is the main reason for TRX's recent adjustment?
Large whale transfer transactions and increased selling pressure on the exchange caused TRX to lose its technical support level, leading to a price adjustment.
What trend are TRX traders following?
Currently, traders are leaning towards short-selling positions as short orders exceed long orders, indicating short-term bearishness.
Which technical indicators should be monitored for TRX?
The RSI index and important support-resistance zones are indicators to closely monitor for predicting the next price movements.
Source: https://tintucbitcoin.com/tron-trx-chuyen-100-trieu-token-gia/
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