TRX alarm goes off! Pullback pressure may hide rebound opportunities
Tron (TRX) has performed well this year, with an overall upward trend, but recent market signals cannot be ignored. According to the 180-day Sharpe ratio analysis, TRX is currently in a "danger zone", which usually indicates that the market is close to the top and the risk of a pullback is high.
Currently, TRX is trading at $0.2042, down 9.42% from its all-time high. This rapid pullback has the market worried that there may be more selling pressure. At the same time, TRX's open interest peaked at $160.25 million on November 24, which is lower than the level in August, but still reflects a slowdown in market demand.
Despite this, the Tron network remained active in November, with the highest daily trading volume reaching $158 million, which still reflects the market's demand, although it failed to reach the peak in August. Total locked value (TVL) also reached $7.58 billion in November, which is lower than $10.51 billion in March, but still a good result.
In summary, although TRX is currently facing a pullback pressure, it still has upside potential in the short term. Investors should carefully observe market changes, especially when whale and institutional activities fall sharply.
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