TRX to the Moon? 🚀 (Maybe…)

by

Right then. Apparently, someone – a Mr. Justin Sun, a name which whispers of both ambition and, well, things – has decided to chuck a rather impressive $18 million at Tron Inc. Seems he’s got a hankering for more TRX, and is buying it up off the open market. One assumes he’s not building a particularly large pile of digital bricks, but one never truly knows with these things. 🤔 And, wouldn’t you know it, charts are doing that thing they do – forming patterns. Patterns which, according to those who spend their lives staring at lines, suggest things might… go up.

  • TRX is up a smidge – 5% since the beginning of December. A triumph, if your scale of triumphs is calibrated to the fluctuations of digital currencies.
  • Mr. Sun’s $18 million. It’s going into a ‘treasury’, apparently. The modern equivalent of stuffing gold under the mattress, only… less tangible. 💰
  • A ‘bullish reversal pattern’. Sounds impressive, doesn’t it? Basically, it means the lines on the chart are pointing upwards for a change. Apparently, that’s good.

According to those who track such things (crypto.news, in this case), TRX wobbled around a bit, peaking at $0.286 on December 31st, before settling for a quiet life at $0.284. Which, as of today, is 5% better than its December slump and a whopping 35% up from its annual low. So, progress. Sort of. 🎉

The price rose, they say, because of a confluence of bullish factors. Which is a fancy way of saying a lot of hopeful things happened at once.

First, the aforementioned Mr. Sun’s investment. The Nasdaq-listed Tron Inc. will now accumulate TRX. A corporate treasury of digital stuff. One pictures tiny accountants meticulously counting ones and zeros.

The idea is, if Tron Inc. buys up a lot of TRX, it’ll become a big-shot holder, which will supposedly make other people want to buy TRX too. It’s a bit like a cosmic game of “Follow the Leader”, only the leader has a lot of money. 🤪

Then there’s Bitwise, who’ve applied for a TRX Strategy ETF. An ETF, for the uninitiated, is a way for grown-ups (and some slightly more adventurous ones) to dabble in crypto without having to actually understand crypto. If the SEC approves it, expect a surge of interest, mostly from people who’ve missed the boat on everything else.🚢

And finally, the ‘whales’ (people with a lot of TRX) are also buying. They’ve increased their holdings from 1.59 million to 1.64 million. Which, in whale terms, is probably pocket change. But it gets the retail investors talking.

If the whales keep buying, the little fish might follow, which could, conceivably, push the price up a bit. Though, let’s be honest, the ocean is a fickle place.🌊

TRX price analysis

Now, the chart buffs are crowing about a ‘falling wedge pattern’. Apparently, this is a sign of “strengthening bullish momentum”. It’s basically two lines getting closer together, then… something happens. Predictable, really.

And, to further confirm things are looking… alright, the price has gone above the 50-day moving average (whatever that is), and the Supertrend indicator has turned green. Because green is good, obviously. 🟢

So, the experts reckon TRX could climb to $0.356. Which is about 25% higher than where it is now. A decent gain, if you don’t think too hard about the inherent volatility of the whole endeavor. Just remember, past performance is not indicative of future results, and all that jazz. Don’t spend your life savings, alright? 🤷

Read More

2025-12-31 14:20