- A 150M TRX move followed by 100M landing on Binance has spooked traders into expecting a sell-off.
- Price fell to $0.32 with 45% drop in volume, but $22.45M in TRX outflows hint at quiet accumulation.
- Bears are piling into shorts around $0.3264, while bulls may defend the $0.2965 level if correction deepens.
Tron’s looking a bit shaky right now. After a pretty solid run lately, the token seems to be losing steam—and fast. The big question? Is this just a standard pullback or the start of something worse? Recent exchange activity isn’t exactly helping the mood.
100 Million TRX Jump from HTX to Binance
So, on July 20, WhalesAlert flagged some eyebrow-raising moves. One unknown wallet sent 150 million TRX—worth nearly $49 million—to HTX. Okay, not too crazy on its own. But then, weirdly, HTX turned around and shot 99,999,999 TRX (yep, basically 100 mil) to Binance. That chunk was worth about $32.4 million.
Now, was it just a normal internal shuffle? Maybe. But let’s be real—when big bags of tokens land on Binance, people start thinking sell-off. It’s not confirmed, but the vibes are definitely bearish.
Price Dips While Accumulation Quietly Rises
Shortly after all that movement, TRX slid by 1.85%, dipping to around $0.32. And it wasn’t just price taking a hit—market activity dropped too. Daily trading volume fell off a cliff, crashing by 45% compared to the day before.
But here’s the twist. While some were dumping, others were scooping. On-chain data from CoinGlass shows $22.45 million worth of TRX flowing out of exchanges. That kinda outflow usually means people are accumulating. Fewer tokens on exchanges often translates to lower sell pressure. So it’s a mixed bag.
Technicals Point to Caution
On the charts, TRX had been riding a nice uptrend… until now. It’s cracked below local support at the $0.323 level. If the slide keeps going, it could pull all the way down to $0.2965, a roughly 7% drop.
The RSI’s chilling around 55, so we’re not in overbought or oversold territory. That means things could go either way from here. Traders might be sitting on their hands, waiting for a clean breakout or a reversal signal.
Bears Taking Over?
According to Coinglass, bearish bets are stacking up. On the downside, there’s $3.25 million in long positions sitting at $0.3136, which could get wrecked if TRX drops further. Up top, at $0.3264, there’s $4.1 million in short positions—that’s a wall to watch if bulls try to push back.
So far, sentiment seems to favor the bears, and unless something shifts soon, TRX might stay on the back foot a little longer.
