2024

Bitcoin

Impact

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-impact-trx-price-movements" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Impact TRX Price Movements</a><br></p>
<p style="text-align: justify">Altcoins are facing challenging times, with whale negativity potentially worsening the situation. Bitcoin maintains its stagnant position with weak demand and diminished appetite. A significant breakout is needed, but current signals do not indicate this. Meanwhile, <a href="https://en.bitcoinhaber.net/whales-impact-trx-price-movements" data-wpel-link="internal" rel="noopener noreferrer nofollow">TRX</a> appears to be at risk of further decline.</p>
<h2 id="trx-coin-analysis">TRX Coin Analysis</h2>
<p style="text-align: justify">Bitcoin traded around $58,500, experiencing another drop on Monday. Despite attempts to stay above $60,000, profit-taking activities at high levels pushed the price downward. The accumulation of short positions during this decline suggests some <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> anticipate a dip towards $50,000.</p>
<p style="text-align: justify">If the recent trend continues, those who shorted around $60,000 may profit once more. The absence of parabolic movements since the halving further emboldens bearish sentiment. Nonetheless, historical <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> warns of the potential for sudden upward movements that could disrupt bearish strategies.</p>
<h2 id="trx-coin-price-forecast">TRX Coin Price Forecast</h2>
<p style="text-align: justify">Tron (TRX) encounters resistance at $0.137. The recent upward attempt prompted holders with $1 million to $10 million worth of TRX to offload $23 million, reducing their total holdings from $624 million to $601 million within 72 hours. This move seems prudent in the current market environment.</p>
<p style="text-align: justify">Whales doubt that the recent upward attempt will result in sustained closes above $0.137. If incorrect, the price could rise to $0.144, potentially triggering a sell-off of up to $45 billion according to the GIOM chart. As the annual peak nears, accelerated selling by whales would not be surprising.</p>
<h2 id="key-investor-insights">Key Investor Insights</h2>
<p style="text-align: justify">Investors should consider the following:</p>
<ul>
 <li>Short-term resistance at $0.137 is critical for TRX’s price direction.</li>
 <li>Sustained upward movement could face substantial whale-induced sell-offs.</li>
 <li>Historical patterns suggest the possibility of sudden market shifts.</li>
 <li>Monitoring BTC fluctuations is crucial for predicting TRX trends.</li>
</ul>
<p style="text-align: justify">Currently, with resistance tests failing and prices declining, the potential for a rally towards the 2024 peak remains under scrutiny by investors, particularly with the possibility of abrupt BTC price changes.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-impact-trx-price-movements" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Impact TRX Price Movements</a></h5>

Whales Impact TRX Price Movements

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