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Reading: TRON Price Rises as Whales Accumulate TRX Tokens
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COINTURK NEWS > Tron (TRX) > TRON Price Rises as Whales Accumulate TRX Tokens
Tron (TRX)

TRON Price Rises as Whales Accumulate TRX Tokens

In Brief

  • TRON's price surged recently, prompting profit-taking among traders.

  • Whale activity rose significantly, indicating strong accumulation of TRX tokens.

  • Price targets suggest potential for substantial growth in the near future.

İlayda Peker
İlayda Peker 6 months ago
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On November 13, the price of TRON (TRX) surged to $0.1825, currently trading at around $0.1813. The trading volume decreased by 46% over the last 24 hours, indicating that participants are engaging in profit-taking, leading to slower market movements. There is growing speculation regarding whether the TRX price can break current resistance levels and embark on a significant upward trend by the year’s end.

Contents
TRON Whales Are Active: Major Purchases Are ComingShort and Medium-Term Price Targets for TRON

TRON Whales Are Active: Major Purchases Are Coming

Data from IntoTheBlock indicates a notable increase in TRON whale activity in the past 24 hours. Large investors have increased their TRX purchases by 458% over the last week, suggesting that significant investors are accumulating TRX in anticipation of a possible price rise.

The long-term upward trend in the TRX price chart showcases a bullish flag formation. This structure has broken upward, indicating a continuation of the previous upward trend. The price is trading within a steadily rising channel, suggesting a controlled continuation of the upward movement.

Short and Medium-Term Price Targets for TRON

TRON price analyses identify near-term resistance levels at $0.228 and $0.288, with the main resistance at $0.462. The target price for the bullish flag formation is projected to increase by 800% from current levels to $1.68. Significant support levels are observed at $0.181 and a stronger support point at $0.044.

Investor interest in the TRON ecosystem significantly impacts price movements. Monitoring current market analyses could be beneficial for TRX participants in making strategic decisions.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 14 November, 2024 - 4:09 pm 14 November, 2024 - 4:09 pm
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By İlayda Peker
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