TRON and Solana: Bearish Sentiment Rises, Will Key Support Levels Hold Strong?
- TRON (TRX) shows strong support at $0.26–$0.27, where over 14 billion TRX are held.
- A surge in long liquidations has caused TRON’s open interest to drop by 11.21%.
- Solana (SOL) faces resistance between $155–$157, with support between $145–$147.
The analytical platform Glassnode highlighted that TRON (TRX) has received strong support in the range of $0.26 to $0.27. More than 14 billion TRX were accumulated at this level, making it the most concentrated investor range.
Nevertheless, in the area above this zone, there is a limited supply that offers fewer chances of upward mobility. The majority of positions are still concentrated below the prevailing market price, signaling caution among traders.
TRON Bearish Sentiment Rises as Open Interest Declines
CoinGlass data indicates an increasing bearish sentiment on the TRON derivatives market. The open interest has declined to 11.14%, with a current value of $317.27 million. The fall is mainly spurred by an increase in long liquidations, which totaled 720.09K within 24 hours, compared to 19.45K short liquidations. The imbalance has reduced the Long/Short ratio to 0.7857, indicating an increa…
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TRON and Solana: Bearish Sentiment Rises, Will Key Support Levels Hold Strong?
- TRON (TRX) shows strong support at $0.26–$0.27, where over 14 billion TRX are held.
- A surge in long liquidations has caused TRON’s open interest to drop by 11.21%.
- Solana (SOL) faces resistance between $155–$157, with support between $145–$147.
The analytical platform Glassnode highlighted that TRON (TRX) has received strong support in the range of $0.26 to $0.27. More than 14 billion TRX were accumulated at this level, making it the most concentrated investor range.
Nevertheless, in the area above this zone, there is a limited supply that offers fewer chances of upward mobility. The majority of positions are still concentrated below the prevailing market price, signaling caution among traders.
TRON Bearish Sentiment Rises as Open Interest Declines
CoinGlass data indicates an increasing bearish sentiment on the TRON derivatives market. The open interest has declined to 11.14%, with a current value of $317.27 million. The fall is mainly spurred by an increase in long liquidations, which totaled 720.09K within 24 hours, compared to 19.45K short liquidations. The imbalance has reduced the Long/Short ratio to 0.7857, indicating an increa…
The post TRON and Solana: Bearish Sentiment Rises, Will Key Support Levels Hold Strong? appeared first on Coin Edition.
Read More