#打榜优质内容# Tron (TRX) has recently shown strong technical support. According to the latest data, its Mayer multiple remains at 1.2, a level that is typically seen as a sustainable support area for the market. Historical experience shows that when the Mayer multiple is above 1.0, the downside risk is relatively reduced, providing potential space for a mid-term rise. TRX is currently holding in the range of 0.317-0.320 USD while attempting to break through the descending channel, and short-term bulls seem to be regaining the initiative. The resistance levels are mainly concentrated at 0.344 USD and 0.370 USD, and if a successful breakout occurs, it could unleash further bullish potential.

However, the signals from the derivatives market appear cautious. CoinGlass data shows that TRX derivatives trading volume has plummeted by 58.74%, and open interest has also dropped by 9.04%, while the financing rate has fallen to a negative value (-0.0075%). This indicates that short positions are dominant, but it may also suggest potential rebound opportunities—historical experience shows that excessive shorting is often a precursor to short-term reversals. In summary, if TRX can maintain momentum above the channel and hold key support, long positions are expected to gain strength again, challenging the resistance level of $0.370. However, attention should still be paid to market sentiment in the short term, especially the volatility risk brought about by the decline in derivatives participation.
TRUMP: Whales are accumulating while retail investors are selling 🐋🛑 Unlike the stable positioning of TRX, the Trump meme coin shows a divergent pattern of "whale bullishness and retail selling." Over the past week, TRUMP fluctuated narrowly between $8.1 and $8.5, with market sentiment caught in a stalemate. Interestingly, the inflow of funds in the futures market continues to increase. According to CoinGlass data, the net inflow of TRUMP futures in the past 24 hours was $1.15 million, with a long-short ratio as high as 3.61 and long positions accounting for 78%. This indicates that whales are still quietly accumulating positions in preparation for the next wave of rises. However, the spot market shows the opposite trend. Retail selling pressure is evident, with the net buying/selling increase in the spot market being largely negative over the past eight days. During this period, the selling volume of the memecoin was 23.497 million, while the buying volume was 22.17 million, resulting in a net outflow of $1.32 million, indicating that short-term speculators are choosing to cash out at high levels.
Nansen data further shows that whale balances continue to increase. As of the time of writing, the balance of the largest holders has grown by 121,000 coins, significantly higher than the previous day's 44,000 coins, indicating clear bullish intentions.
From a technical perspective, TRUMP is above both the short-term (9DMA) and long-term (21DMA) moving averages, indicating a certain bullish momentum in the short term, but it is still below the parabolic reversal point of $9.16. If it cannot break through this key level, it may face a drop to the support levels of $8.43 or even $8.2 in the short term.