- The OI of Tron began to increase rapidly as the price increased, the higher traffic stations increased and the real retail accounts have dropped.
- The activity of whales could mean a potential optimistic reversal for TRX, but retail could continue to maintain the market in correction.
Tron (TRX) saw an intense increase in contracts, reaching 316,072 during its price increase.
The Top Trader Position (TTP) traders’ merchants increased their long positions, while retail tradiers (TRA) have reduced their long exposure.
The price movement proved that a substantial trx whale was positioned as a long, while retail merchants took short positions.
The open interest has moved inversely to the same extent as the previous positions were established when the price revised the range from 0.248 to 0.250 $. TTP has decreased, suggesting that the whale has closed its position.
Source: Hyblock Capital
After the precise release of the whale, will retail merchants now add more sales pressure?
If the whales decide to jump back, TRX could possibly exceed the previous resistance points. Without large additional buyers, a period of prolonged stagnation could occur or a formed correction.
The price zones and the correspondence between retail investors and whales suggested a probable trading scenario.
However, the results depended on the moment when the institutions would join the market or if the interest of retail would maintain the bearish momentum.
Whales vs retail battle
TRX decreased by -1.05% to reach $ 0.2451 indicating the continuation of lowering trends. The price broke out of its structure nearly $ 0,2550 and failed to maintain above this point, which indicates the momentum of the seller.
Character change (Choch) at $ 0,2,450 and the main chocal area lied near $ 0,2400.
A sustainable sellers control would result in prices to test the support area, with potential continuation to $ 0.2350.
The action of tron prices has experienced several structure ruptures (BOS) and change of character (Choch) but failed to stay above $ 0,2600, which leads to low market.
Source: tradingView
A violation of $ 0,2400 would validate a short -term trend in the market structure, which would increase the drop -down price to the liquidity zone of $ 0.2,300.
Alternatively, TRX would initiate a reversal to $ 0,2550 and would continue at $ 0.2600 in the event of modification of the structure displayed at the time of the press.
There are signs of exhaustion after the previous ascending movement, which made that continuous drop tests appear likely before joining the next negotiation period.
How was TRX, to the chain?
Meanwhile, the Tron Blockchain network has maintained a normal operational flow because it treated more than 2.53 million transactions in one day while accumulating 10.12b of transactions.
The daily transaction volume amounted to around 260.86 million TRX. However, the active address numbers have dropped between 2 m. TRX distribution was widespread with holders of 175.6 million and an offer of 2.28b.
Source: Tokenview
The active user figures were encouraging, but the current drop in active user addresses could indicate a deterioration in user engagement or the instability of imminent prices.
TRX could see a negative price trend with the low level of address activity and the decrease in the volume of negotiation. The active behavior of the user can move slowly, but can turn irreversibly depending on the evolution of user attitudes.
