“Tron (TRX): 2 Reasons It’s Poised for a Major Breakout Soon”

Whale activity on Tron has experienced a significant increase, with 96% of holders seeing profits.
TRX’s bullish trend is eyeing the $0.1645 resistance after bouncing back from crucial trendline support.

Tron [TRX] is making notable strides, and recent data explains the rising interest in this altcoin.

Currently, an impressive 96% of Tron holders are in profit based on TRX’s price at press time. Additionally, large transactions have skyrocketed by 196% in just 24 hours.

This increase suggests a growing interest from TRX’s major stakeholders.

Source: IntoTheBlock

Large transactions up by 196%

The recent surge in substantial transactions suggests increased activity from whales in TRX.

In just the last 24 hours, the altcoin saw a 196% spike in large transactions, indicating that institutional investors and big traders are in an accumulation phase.

Source: IntoTheBlock

Increased whale accumulation often precedes significant price changes, which might be the scenario for Tron as it exhibits strong bullish signals.

Increase in active addresses

It’s not just whales that are active; regular active addresses have also grown by 10%.

This uptick in network engagement contributes to a positive outlook, as it reflects a rising interest and utilization of the TRX blockchain.

A rise in active addresses may indicate enhanced user engagement within Tron, potentially driving prices higher.

Source: IntoTheBlock

Tron aims for the $0.1645 resistance

Moreover, Tron has experienced significant gains following a retest of the rising trendline support at the $0.1563 level.

The altcoin continues to gain momentum, with the upcoming target set at the $0.1645 resistance level.

Check out Tron’s [TRX] Price Prediction for 2024–2025

If the upward momentum of TRX persists, breaking above this resistance could trigger further price increases driven by whale activities and overall network engagement.