Tron’s 10.45 Billion TRX Sell Wall: The Great Wall of Tron-der

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Ah, Tron (TRX), that delightful little digital currency that has decided to take a leisurely stroll down the price decline lane, registering a charming 1.26% decrease to a modest $0.2441 in the last 24 hours. But wait! What’s this? A sell wall, larger than a troll’s appetite for mischief, has emerged on the horizon, as revealed by the ever-reliable IntoTheBlock data. 🧙‍♂️

10.45 billion TRX sell wall: Barrier to growth?

Now, for those who might be wondering, a sell wall is not a new type of medieval fortification, but rather a situation where holders decide to place a multitude of orders at the same price level. This could make potential buyers feel like they’re trying to swim upstream in molasses—quite the discouraging scenario! 🏊‍♂️

According to IntoTheBlock’s Global In/Out of the Money data, this colossal 10.45 billion TRX is currently acting as a rather stubborn barrier to TRX’s ascent to the lofty heights of higher levels. The average price of this mountain of TRX stands at $0.2781, with a price range that could make a rollercoaster jealous—between a maximum of $0.4553 and a minimum of $0.2514.

With the market price of TRX at $0.2441, it appears that 6.22 million addresses are currently experiencing the delightful sensation of losing money. This is significant, as this large concentration of sellers could serve as a formidable resistance to any further price growth for our dear TRX. 📉

Meanwhile, trading volume has taken a nosedive, plummeting by a staggering 33.99% to $480.99 million in the last 24 hours, according to the ever-watchful CoinMarketCap data. This suggests that buyers have become as cautious as a cat on a hot tin roof, unwilling to tie down their funds, likely suspecting that TRX’s price might have a hard time climbing the proverbial mountain. 🐱‍👤

Justin Sun’s ATH prediction faces countdown pressure

In a twist that could only be described as delightfully optimistic, Justin Sun, the founder of Tron, has made a bold prediction that TRX has all the potential to reach a new all-time high (ATH) before the end of June. One can only hope he’s not just whistling in the dark! 🎩

Despite the current indicators, TRX has managed to grow by a significant 2.44% over the last seven days. It will be fascinating to see how TRX attempts to shake off this sell wall and strive for Sun’s predicted ATH, like a determined squirrel trying to reach the last acorn. 🐿️

It’s worth noting that TRX’s current ATH of $0.4407 was reached back in December 2024. So, Tron has about 70 days to close the approximately 45% price-performance gap before Q2 bids us adieu. Time flies when you’re having fun, doesn’t it? ⏳

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2025-04-18 18:07