$TRX Fell Below Its Pre-Hack Price. Buy the Overhang or Avoid?
TRX is near $0.31, back below where it traded before the Binance hack. The hacker bought a large stash of TRX with stolen USDT at about $0.367, and TRX can't be frozen. Before you buy the dip, here's the full picture.
Support: $0.3017, then $0.30
Resistance: $0.3216, then $0.33 and $0.34
Bull: reclaims $0.33 (the pre-hack level), then $0.34 and the hacker's entry near $0.367.
Base: ranges between $0.30 and $0.32 while the stash is unresolved.
Bear: loses $0.30 and heads toward $0.29.
TRADE IDEA
Don't catch the knife. Wait for support to hold.
Entry: $0.300-$0.308
Stop: daily close below $0.292
Target: $0.330, then $0.340
Risk/reward: about 2.2:1 to the first target
Keep size small.
RISKS
• The hacker still holds about 475M TRX (about 0.5% of supply), and 120M TRX moved to an unknown wallet
• Hacker selling can come at any time, and TRX can't be frozen
• The Tron network was used to launder funds, which brings headline risk
• Weak market, with BTC near $78K
MY TAKE
Fundamentals are solid. Tron carries about $96B in stablecoins, and Tron Inc. is buying TRX. But the price is tied to one wallet cluster until it's resolved. Buy support with a tight stop, don't catch the knife. Patience beats FOMO.
Would you buy the dip or stay out?
Not financial advice. DYOR.
