Tron (TRX) Ready to Break Out as Whale Activity Fuels Altcoin Momentum

• Whale accumulation and rising large transactions suggest a bullish breakout for Tron (TRX), with strong market interest driving potential price advances.
• Increased network participation and robust fundamentals position Tron for further growth, with key resistance levels indicating a potential price surge.

Despite TRON’s struggle to gain momentum, as recently revealed in a CNF update, 96% of Tron (TRX) holders are currently in profit, and the altcoin has seen an impressive 196% increase in large transactions over the past 24 hours. This surge indicates heightened interest from institutional investors and large-scale traders, known as “whales,” who appear to be in an accumulation phase.

The involvement of these significant players often precedes large price movements, and Tron’s bullish momentum suggests that a major price surge could be imminent.

This growing whale participation is a clear signal that big investors are betting on TRX’s potential, aligning with the broader market sentiment surrounding the asset. A strong uptick in large transactions usually points to strategic accumulation, potentially setting the stage for TRX’s price to push higher in the near term.

Increased Network Activity and Strong Price Targets:

Besides whale activity, Tron’s network participation has also seen a notable boost, with active addresses rising by 10%. This increase suggests that more users are engaging with the TRX blockchain, further supporting its bullish outlook. An increase in active addresses is typically a positive sign, as it reflects higher usage and growing interest in the network. These network fundamentals help fuel the current price action, creating a strong foundation for further gains.

Just recently announced via tweet by ChangeNOW, Limitless Web 3 Crypto Exchange, TRON is shaping the blockchain space. From leading crypto payments with 8B+ transactions to dominating the stablecoin sector and having 2Mn+ daily active users, TRON is pushing global adoption.

TRON is shaping the blockchain space!

From leading crypto payments with 8B+ transactions to dominating the stablecoin sector and having 2Mn+ daily active users: @trondao is pushing global adoption.

Read more in our blog! https://t.co/8VZQ1FXIJz

— ChangeNOW (@ChangeNOW_io) October 22, 2024

Tron recently retested its ascending trendline support at the $0.1563 level and is now building momentum toward the next resistance target of $0.1645. If the upward trajectory continues and TRX breaks through this resistance level, more significant price advances could follow, driven by a combination of whale activity and overall network growth.

As of today, Tron (TRX) is trading at $0.16, up 0.27% in the past day and 0.36% in the past week.

With robust fundamentals and increasing market interest, Tron seems well-positioned to continue its bullish run, potentially reaching new highs in the coming weeks.