Tron (TRX) Open Interest Skyrocketed by 56% in the Last 24 Hours

TRX has surpassed top cryptocurrencies including Bitcoin, Ethereum, Solana, and others. TRX looks extremely bullish and is now heading toward its all-time high

Tron’s (TRX) open interest has once again seen a massive surge of over 56% in the last 24 hours, attracting significant attention from investors and traders.

According to on-chain analytics firm CoinGlass on August 21, 2024, Tron’s open interest has been gradually increasing with a surge of over 9% in the past hours and 18% in the past 4 hours. This significant increase in open interest is indicating huge investors’ attention toward Tron’s TRX these days.

Tron’s Open Interest Surges by 56%

As per the latest data, TRX open interest has surged by over 56% in the last 24 hours, showing immense interest from investors. Moreover, open interest also surged by 9% and 18% in the past 1 and 4 hours, respectively.

This massive surge in open interest is indicating a huge إفادة سعرية for TRX in the coming days or weeks. As we can see from the past few days’ performance, TRX has already seen a price surge of over 12%. With further إفادة سعرية, TRX might reach its all-time high soon.

TRX Price Surges & Outperforms BTC, ETH, SOL

Along with growing interest from investors and traders, TRX recently outperformed Cardano (ADA) and became the 10th largest cryptocurrency. In addition to ADA, TRX has also surpassed other top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others.

At press time, TRX is trading near $0.158 and has experienced a price surge of over 12% in the last 24 hours. Meanwhile, its trading volume has jumped by over 135% during the same period, indicating more increased participation from investors and traders.

Moreover, TRX has also performed superbly in the last 7 days. According to coinmarketcap data, it has experienced a significant price surge of over 25%. Apart from TRX, no single asset has crossed double-digit gain in the past 7 days.

TRX Might Reach All-Time High Soon

As we can see from the TRX price performance in the last few days, TRX is showing a bullish trend and might reach its all-time high soon. Based on historical price momentum, TRX looks extremely bullish and is now heading toward its all-time high at $0.18 level.

However, with the continuous price surge of over 35% in the past 2 weeks, there is a high possibility that TRX may experience a mild correction before making a new high.TRX Price Prediction for August

After analyzing TRX’s price performance in the last few days, we can expect further إفادة سعرية for TRX in the coming days. TRX might reach its all-time high at $0.18 level if إفادة سعرية continues. However, there is a possibility of a mild correction before making a new high.

Major Liquidation Level

As of now, the two major liquidation levels are near $0.1495 on the lower side and $0.1611 on the upper side. According to CoinGlass, traders have been highly leveraged in the last 24 hours.

If correction takes place and TRX falls to the $0.1495 level, nearly $8.09 million worth of long positions will be liquidated. Conversely, if sentiment remains unchanged and the price soars to the $0.1611 level, nearly $850k worth of long positions will be liquidated.