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Whale withdraws $43M TRX from exchange amid bearish market sentiment and key support test

Technical Signals
04 Jun 2026
AMBCrypto
View Source
Neutral
pluang ai news

A large investor moved 130 million TRON (TRX) tokens worth $43.13 million off Poloniex, reducing the supply available on exchanges during a period of weakening market sentiment. Despite this significant withdrawal, traders remain bearish, with Binance data showing a high proportion of short positions and a low Long/Short Ratio of 0.64. TRX recently broke below its multi-month ascending channel and is testing a critical support level at $0.3228. While technical indicators like RSI suggest the asset is nearing oversold conditions, the market is divided between expectations of a rebound toward $0.3528 and fears of further downside if support fails. The whale withdrawal signals some large holders prefer to hold, but overall trader sentiment remains cautious amid uncertain near-term direction.

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