TRON Price Targets 800% Surge As Whale Activity Spikes

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As a seasoned analyst with over two decades of experience observing and analyzing various market cycles, I have learned to appreciate the subtle signs that whales often reveal. The recent surge in large TRX inflows and increased concentration among longer-term holders suggests that these shrewd investors are positioning themselves for a potential price explosion.

As a researcher examining the TRON (TRX) price trend, I’ve observed an intriguing pattern: The asset has been maintaining its all-time high following a significant surge on November 13, peaking at $0.1825. However, it has since dipped slightly to its current value of $0.1813. This dip is accompanied by a substantial decrease in daily trading volume, down by approximately 46%. This drop suggests a potential decline in market activity, possibly due to profit-taking. The question now arises: Could the TRX price break through the current resistance and surge as much as 800% before the year’s end? That remains to be seen.

Whale Activity on the Rise: What Does It Mean for TRON Price?

According to IntoTheBlock data, there has been a significant rise in Tron (TRX) activity among large investors over the last 24 hours. The inflow of TRX into the hands of these major investors surged by approximately 458% within the past week, suggesting that whales are amassing the token in anticipation of a potential price increase in the near future.

In the past month, there’s been a rise of about 0.23% in the proportion of TRX held by large investors (whales). Meanwhile, the proportion owned by investors has grown by 1.19%, while retail traders have decreased by 1.74%. This trend indicates that long-term holders are likely entering the TRX market, as they seem to believe that the price will continue its upward trajectory in the near future.

Crypto analyst Petrov has predicted that TRX price could rise to $1.5 by may 2025 as it has entered a parabolic curve. This assessment lines up with the TRON technical analysis that suggests an 800% move is imminent.

TRON Price Analysis: Can TRX Hit an 800% Surge?

The TRX price graph demonstrates a prolonged upward momentum, with a bullish pennant pattern appearing and subsequently breaking upwards, suggesting the continuation of its initial ascent. Currently, the price is moving along an inclined channel, signifying a controlled and gradual rise in the bullish direction.

The emergence from the bullish pennant pattern carries strong technical significance, implying that the previous upward trend may persist further.

According to wave analysis, this pattern seems to indicate a potential impulse wave setup with higher potential goals that line up with Fibonacci projections. The last target around $1.681 corresponds to an extended wave 3 as per Elliott Wave principles.

Lately, the candles suggest a strong uptrend, as they consistently close at higher levels within an ascending trendline, demonstrating persistent buying activity and relatively low market turbulence.

According to the TRON price forecast, the immediate resistance levels are likely to be found at approximately $0.228 (a level derived from Fibonacci analysis at -0.27) and $0.288 (a Fibonacci -0.618 extension level). A significant resistance can be expected around $0.462 (Fibonacci -1.618 extension level). The bullish pennant pattern suggests a potential long-term upward movement with an ambitious goal of $1.68, representing an 800% increase from the current price.

Alternatively, at the present moment, strong support can be found at $0.181, which matches the current price level and the lower limit of the upward trend. Should it fall below this point, a more robust support is located around $0.044 – a Fibonacci 0.786 retracement level derived from previous lows.

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2024-11-14 13:10