Time to Buy Tron? Donald Trump Adds Another 10.81M TRX
Overall cryptocurrency market sentiment appears to be recovering following the inauguration of pro-cryptocurrency Donald Trump as president. In this case, Tron (TRX) seems optimistic and is poised to gain significant upside momentum due to a bullish structure on the daily chart and increasing interest from long-term holders.
World Freedom 10.81M TRX
Today, January 22, 2025, blockchain-based transaction tracker Lookonchain posted on X (formerly Twitter) that Trump’s World Liberty purchased 10.81 million TRX tokens for $2.65 million in USDT currency.
This marks the second largest TRX purchase by the Trump team since taking office. On January 20, 2024, the team acquired 18.3 million TRX for $4.7 million in two separate transactions to celebrate Trump’s inauguration as the 47th president.
With these recent TRX purchases, World Liberty’s TRX holdings now reach 30.11 million, worth $7.38 million.
75% of Binance’s top traders are bullish on TRX
Considering these investments, Binance traders have shown strong interest and confidence, reports the on-chain analytics firm coin glass. Binance TRXUSDT long-short ratio data shows that there is currently only 1 short position for every 3.04 long positions, indicating strong bullish sentiment among traders.
Currently, 75.23% of the top traders hold long positions and 24.77% of the top traders hold short positions.
Tron (TRX) Technical Analysis and Upcoming Levels
According to expert technical analysis, TRX appears bullish as it recently broke above a trendline it has been testing since early December 2024, as well as the neckline of a bullish double bottom price action pattern. Following the breakout, TRX sentiment appears to be shifting and is poised for significant upward momentum.
TRX Price Prediction
Based on recent price action and historical momentum, if TRX closes above the $0.25 level, it is very likely to surge 35% to $0.34 levels in the coming days.
At press time, TRX was trading close to $0.255, with the price surging by more than 5.50% in the past 24 hours. However, its trading volume fell by 25% during the same period, indicating that trader and investor participation was lower than the previous day.
