The cryptocurrency market sentiment is experiencing a positive shift following the presidential inauguration of Pro-Crypto Donald Trump. Among the various digital assets, Tron (TRX) stands out as particularly optimistic and poised for significant upside momentum due to its bullish structure on the daily chart and increasing interest from long-term holders.
World Liberty, a prominent entity associated with Trump, recently made a substantial investment in TRX. On January 22, 2025, Lookonchain reported that World Liberty purchased 10.81 million TRX tokens for $2.65 million in USDT. This marks the second-largest TRX acquisition by Trump’s team since his inauguration, bringing their total TRX holdings to 30.11 million valued at $7.38 million.
The growing interest in TRX is also evident on Binance, one of the leading cryptocurrency exchanges. According to data from Coinglass, 75% of the top traders on Binance are long on TRX, indicating a strong bullish sentiment in the market. The TRXUSDT Long/Short ratio reveals that for every 3.04 long positions, there is only one short position, reflecting the confidence of traders in TRX’s potential.
From a technical analysis perspective, TRX is showing bullish signs as it recently broke out of a trendline that had been tested since early December 2024. Additionally, it has surpassed the neckline of a bullish double-bottom pattern, suggesting a shift in sentiment and the potential for significant upside momentum.
Based on recent price action and historical momentum, experts predict that if TRX closes a daily candle above the $0.25 level, it could surge by 35% and reach the $0.34 level in the near future. Currently trading near $0.255, TRX has experienced a price increase of over 5.50% in the last 24 hours. However, the trading volume has decreased by 25%, indicating lower participation from traders and investors compared to the previous day.
Overall, Tron (TRX) appears to be in a strong position for growth, driven by positive market sentiment, significant investments from influential entities, and technical indicators pointing towards a bullish trend. Investors and traders are closely monitoring TRX as it continues to show promising signs of upward momentum in the cryptocurrency market.