Tron (TRX) has fallen by a mere amount in price, sliding 1.26% over the last 24 hours to $0.2441. But what everyone is really noticing is a ginormous “sell wall” that might prevent the coin from climbing much higher.
A sell wall occurs when numerous individuals have placed sell orders at the same level. It is a strong resistance because new buyers may not want to purchase TRX if they believe that the price will not rise easily.
In this instance, the sell wall consists of 10.45 billion TRX, all at about $0.2781 on average. So many individuals are willing to sell if the price reaches that amount.
With the price now at $0.2441, there’s a wide gap before TRX reaches the $0.2781 level where the wall begins. The issue is, if everyone wants to sell at that price, it may clog up TRX from going higher.
It’s like a ceiling that’s hard to break through. Also, about 6.22 million TRX holders are currently in the red—they’re losing money right now. That could make them eager to sell when the price starts going up, adding more pressure.
With the price now at $0.2418, there’s a wide gap before TRX can hit the $0.2781 level where the wall begins. The catch is, if everyone wants to sell at that price, it might prevent TRX from going up any further.
It’s sort of a ceiling that is difficult to breach. And then around 6.22 million TRX holders are currently in the red—they are losing money presently. That might make them ready to sell when the price begins going up, putting further pressure.
Trading volume has also fallen by almost 346%, currently to $446.29 million over the past 24 hours. That indicates buyers are being conservative. Most traders probably believe the price will not increase anytime soon, so they’re not rushing in.
Tron’s CEO, Justin Sun, had forecasted earlier that TRX may reach a new all-time high (ATH) by June end. The current ATH of TRX is $0.4407, achieved in December 2024. But to achieve that, the price needs to increase by roughly 45% within fewer than 70 days. That is quite an uphill task, considering there’s such a hefty sell wall obstructing its path.
In short, absent a significant burst of buying demand, the 10.45 billion TRX sell wall might keep the price in check and prevent or put off the bull breakout that others are anticipating.
Also Read: Tron Price Prediction: Will TRX Hit $0.30 Or $0.20 This Week?
