Connect with us
Active Currencies 17780
Market Cap $3,914,866,332,685.70
Bitcoin Share 60.00%
24h Market Cap Change $-4.27

Tron decouples from Bitcoin, Ethereum: New ATH coming?

2min Read

TRX’s Long/Short Ratio currently stands at 2.22, the highest since late September 2024.

Tron decouples from Bitcoin, Ethereum: New ATH coming?
Share this article

  • Tron’s Futures Open Interest jumped by 20% suggesting that traders’ long positions have been continuously rising.
  • 68.95% of TRX traders held long positions, while 31.05% of investors held short positions.

Tron [TRX] broke out from a major resistance level of $0.157 among the bullish market sentiment among traders.

At press time, TRX was currently trading near the $0.161 level after a price surge of over 2.56% in the past 24 hours.

During the same period, its trading volume jumped by 25%, which shows how investors and traders are participating in the asset following the recent breakout.

TRX technical analysis and key levels 

AMBCrypto’s technical analysis suggests that TRX is bullish and may rally significantly in the coming days.

Following its successful breakouts from the strong resistance level of $0.157, there is a high possibility that TRX’s price could easily break its all-time high and set a new record. 

TRX technical analysis

Source: TradingView

Technical indicators such as the Relative Strength Index (RSI) and the 200 Exponential Moving Average (EMA) further support this bullish outlook for the altcoin.

Bullish on-chain metrics 

In addition to this positive outlook from technical analysis, on-chain metrics indicated that bulls were favoring holding on to the altcoin, instead of selling off.

According to the on-chain analytics firm Coinglass, TRX’s Long/Short Ratio was 2.22 on the 12-hour time frame, the highest since late September 2024. This indicated bullish market sentiment.

TRX’s long/short ratio

Source: Coinglass

Additionally, TRX’s Futures Open Interest jumped by 20%, and has been steadily increasing since then. This suggested that traders’ long positions have been continuously rising over the past 24 hours.


Read Tron’s [TRX] Price Prediction 2024–2025


At press time, 68.95% of TRX traders held long positions, while 31.05% held short positions.

Combining all the on-chain metrics and technical analysis, it appears that bulls are currently dominating the asset and the sentiment is positive, which could lead to a massive upside rally in the coming days.

Share
Vivaan Acharya is a Crypto-Economist and Journalist at AMBCrypto who brings a rare depth of financial and economic expertise to the world of digital assets. He holds a Master’s in Economics from the prestigious University of Delhi and has over five years of experience analyzing technology and financial markets. His foray into the blockchain space began in 2018, marked by his prescient Master's thesis, "Payments and Stablecoin Integration in Banking," which showcased his early understanding of crypto's potential to disrupt traditional finance. Before specializing in crypto, Vivaan honed his skills in rigorous data and technical chart analysis at a major national financial daily, where he covered corporate earnings and market trends. At AMBCrypto, Vivaan applies this powerful blend of classical economic training and seasoned financial journalism to his work. He is an expert in: 1. Bitcoin and Altcoin Market Analysis 2. Stablecoin Ecosystem Development, and 3 Emerging Crypto Regulations. Known for his clear, no-nonsense approach, Vivaan translates robust research into straightforward, actionable insights. He is dedicated to demystifying the complexities of blockchain finance, empowering readers to confidently navigate the rapidly evolving digital economy.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.
Thank you for subscribing to Unhashed.