Global economic uncertainties weigh in cryptocurrency markets as TRX consolidates after its recent failed breakout trials.
The token, which established a trade area between $ 0.271 and $ 0.278, has shown resilience despite rising merchant tensions between larger economies.
Trons Blockchain continues to demonstrate strong basic elements and processes over $ 1 billion in daily transaction volume while maintaining its position as the primary network of USDT circulation with over 70% market share.
Technical analysis highlights
- TRX-USD established a 24-hour trade area of $ 0.271 to $ 0.278, representing a 2.95% spread.
- A Bullish Breakout trial occurred within 05:00 hours of high volume (121.2 m) that reached $ 0.278 but could not maintain speed.
- Resistance zone formed about $ 0.277- $ 0.278, with support established at $ 0.271, tested twice with increasing volume.
- Price action shows consolidation after rejection by resistance, where $ 0.273 sits near the center of the area.
- Significant Bullish Momentum arose in the last hour and broke out of consolidation by one step from $ 0.271 to $ 0.272.
- Remarkable reversal at. 13:34 Then volume pike to 5.4 m as TRX rose from $ 0.270 to $ 0.271.
- Momentum accelerated between 13: 55-14: 00, where the price reached $ 0.272620, which established a new level of resistance.
- Despite a short withdrawal to $ 0.272052, a strong purchase pressure maintained over $ 0.272.
- The hour closed at $ 0.272442, representing a 0.5% gain at opening.
- Significant volume increase during breakout confirms the strength of the upward movement, which suggests potential continuation.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy. This article may include information from external sources listed below when appropriate.
External references
