Tron (TRX) was the only token among the top ten cryptocurrencies by market capitalization to register gains, trading at $0.156 after a slight 1% increase. A key factor behind this rise is the surge in large transaction volumes. Data from IntoTheBlock indicates that on October 7, large transaction volumes for TRX surged from 224 million to 629 million, representing a 180% gain. This increase suggests growing interest from whales, but it remains uncertain whether this momentum can break TRX out of its consolidation phase.

Since late September, TRX has oscillated between $0.153 and $0.157, with low buyer and seller interest keeping the price stagnant. The volume histogram bars have remained below the 50-day moving average, indicating market inactivity, while the Moving Average Convergence Divergence (MACD) line shows a lack of momentum. Without a significant change in trading volumes, TRX may continue to trade within this range.

Tron's Open Interest has dropped significantly, standing at $86 million—nearly a 50% decline since late August. This low Open Interest reflects a declining market interest, as traders appear uncertain. Additionally, recent increases in short positions indicate that traders are betting on a bearish breakout. If TRX fails to break out of its consolidation, bears may take control, especially given the slight dip in TRX wallets in profit.