Tron (TRX) Faces Major Sell Wall Amid Price Dip and Bullish ATH Prediction

Tron (TRX) has dropped 1.26% in the past 24 hours, now trading at $0.2441. However, a significant development is catching attention—IntoTheBlock data reveals a massive 10.45 billion TRX sell wall, posing a strong resistance to price growth. A sell wall occurs when large quantities of a token are listed for sale at a specific price range, discouraging buyers and potentially suppressing upward momentum.

The current TRX sell wall is concentrated around an average price of $0.2781, ranging from $0.2514 to $0.4553. With TRX currently below this range, around 6.22 million addresses are underwater, holding positions at a loss. This dense cluster of sellers may act as a barrier, making it harder for TRX to regain bullish momentum.

Additionally, trading volume has plunged by 33.99% to $480.99 million in the last 24 hours, according to CoinMarketCap. This sharp decline suggests waning investor interest and increased caution, likely due to perceived resistance in TRX’s price action.

Despite short-term bearish signals, Tron has gained 2.44% over the past week. Founder Justin Sun remains bullish, predicting a new all-time high (ATH) for TRX before the end of June. With the current ATH at $0.4407, achieved in December 2024, TRX would need to rally over 45% within the next 70 days to meet this target.

As market sentiment hangs in the balance, all eyes are on whether TRX can overcome the looming sell wall and fulfill Sun’s bullish forecast. The next few weeks will be critical for TRX’s price trajectory and investor confidence.