The global economic uncertainties weigh on the markets of cryptocurrencies while TRX is consolidated following his recent failed escape attempt.
The token, which has established a commercial range between $ 0.271 and $ 0.278, showed resilience despite trade tensions between major economies.
The Tron’s Blockchain continues to demonstrate fundamental solids, dealing with more than a billion dollars in daily transaction volume while retaining its main network position for USDT traffic with more than 70% market share.
Strengths of technical analysis
- TRX-USD established a 24-hour negotiation range from $ 0.271 to $ 0.278, representing a spread of 2.95%.
- An upward rupture attempt occurred in 5:00 am with a high volume (121.2 million), reaching $ 0.278 but failed to support the momentum.
- The resistance zone was formed around $ 0.277 to $ 0.278, with a support established at $ 0.271, tested twice with an increasing volume.
- The price action shows consolidation after rejection to resistance, with $ 0.273 seated near the median point of the beach.
- A significant optimistic momentum emerged during the last hour, leaving consolidation with a passage from $ 0.271 to $ 0.272.
- Notable reversal at 13:34 has an increase in the 5.4 m saw volume when TRX went from $ 0.270 to $ 0.271.
- The momentum accelerated between 13: 55 and 14: 00, the price reaching $ 0.272620, establishing a new level of resistance.
- Despite a brief decline at 0.272052, a strong purchase pressure maintained a support greater than $ 0.272.
- The time has closed $ 0.272442, which represents a gain of 0.5% of the opening.
- A substantial increase in volume during rupture confirms the strength of the ascending movement, suggesting potential continuation.
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