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<p>The post <a href="https://coinpedia.org/news/tron-trx-rally-imminent-55-8-of-top-traders-go-long/" rel="noopener noreferrer nofollow">Tron (TRX) Rally Imminent? 55.8% of Top Traders Go Long</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Despite Tron’s (TRX) decline of over 10% in the past week, top traders’ long positions and interest suggest that the price is poised for an upside move. Along with all the major cryptocurrencies, TRX has experienced a price drop of over 1.8% in the last 24 hours.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bullish-outlook-for-trx"><strong>Bullish Outlook For TRX</strong></h2>
<p>The on-chain analytic firm CoinGlass’s <a href="https://www.coinglass.com/LongShortRatio" target="_blank" rel="noopener noreferrer nofollow">TRX Long/Short ratio</a> chart signals a bullish outlook for the token. According to the data, 55.8% of TRX top traders are holding long positions indicating a potential upside rally.&nbsp;</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="264" src="https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-1024x264.png" alt="" class="wp-image-346777" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-1024x264.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-300x77.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-768x198.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-1536x397.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn-150x39.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021248/dkjn.png 1762w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: CoinGlass
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="h-tron-technical-analysis-and-key-levels"><strong>TRON Technical Analysis and Key Levels</strong></h2>
<p>According to the expert technical analysis, TRX is still in an uptrend as it is trading above the 200 Exponential Moving Average (EMA) on a daily time frame. However, after a strong bullish breakout of a resistance level, TRX appears to be retesting that breakout level.&nbsp;</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="449" src="https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-1024x449.png" alt="" class="wp-image-346774" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-1024x449.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-1536x673.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021002/TRXUSDT_2024-09-04_02-09-42.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>
<p>Meanwhile, the $0.15 level is a strong support level for TRX and the price reversal may occur from that level. On the other hand, if it fails to hold the $0.15 level and closes a daily candle below this support, we may see a massive sell-off in the coming days.</p>
<h2 class="wp-block-heading" id="h-major-liquidation-levels"><strong>Major Liquidation levels</strong></h2>
<p>As of now, the major liquidation levels are near $0.147 on the lower side and $0.157 on the upper side, as traders are overleveraged at these levels, according to data from CoinGlass.&nbsp;</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="429" src="https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1-1024x429.png" alt="" class="wp-image-346776" srcset="https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1-1024x429.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1-300x126.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1-768x322.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1-150x63.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/09/04021053/okmjn-1.png 1461w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: CoinGlass
 </figcaption>
</figure>
<p>If the market sentiment remains bearish and the <a href="https://coinpedia.org/price-prediction/trx-tron-price-prediction/" rel="noopener noreferrer nofollow">TRX price </a>falls to the $0.147 level, nearly $2.06 million worth of long positions will be liquidated. Conversely, if the sentiment shifts and the price rises to the $0.157 level, approximately $3.18 million short positions will be liquidated.</p>
<p>This data indicates that, on a higher time frame, short sellers are still dominating the assets and have the potential to liquidate long positions.&nbsp;</p>
<h3 class="wp-block-heading" id="h-tron-price-performance-nbsp"><strong>TRON Price Performance&nbsp;</strong></h3>
<p>At press time, TRX is trading near the $0.152 level and has experienced a price drop of over 2% in the last 24 hours. Meanwhile, its trading volume has also dropped by 8% during the same period, indicating lower participation from traders amid bearish market sentiment.</p>
<p>Despite a notable price drop in the last few days, 57.60% of TRX holders remain profitable, while 32% of holders are facing losses, and 10% of TRX holders are at breakeven, according to data from the on-chain analytics firm IntoTheBlock.</p>

Tron (TRX) Rally Imminent? 55.8% of Top Traders Go Long

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