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    On-Chain USDT Hits Record .8 Billion
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    On-Chain USDT Hits Record $73.8 Billion

    Admin-aX9d7By No Comments2 Mins Read

    Global economic uncertainties are weighing on cryptocurrency markets as TRX consolidates following its recent failed breakout attempt.

    The token, which established a trading range between $0.271 and $0.278, has shown resilience despite mounting trade tensions between major economies.

    Tron’s blockchain continues to demonstrate strong fundamentals, processing over $1 billion in daily transaction volume while maintaining its position as the primary network for USDT circulation with over 70% market share.

    Technical Analysis Highlights

    • TRX-USD established a 24-hour trading range of $0.271 to $0.278, representing a 2.95% spread.
    • A bullish breakout attempt occurred during the 05:00 hour with high volume (121.2M), reaching $0.278 but failed to sustain momentum.
    • Resistance zone formed around $0.277-$0.278, with support established at $0.271, tested twice with increasing volume.
    • Price action shows consolidation following rejection at resistance, with $0.273 sitting near the midpoint of the range.
    • Significant bullish momentum emerged in the last hour, breaking out of consolidation with a move from $0.271 to $0.272.
    • Notable reversal at 13:34 saw volume spike to 5.4M as TRX surged from $0.270 to $0.271.
    • Momentum accelerated between 13:55-14:00, with price reaching $0.272620, establishing a new resistance level.
    • Despite a brief pullback to $0.272052, strong buying pressure maintained support above $0.272.
    • The hour closed at $0.272442, representing a 0.5% gain from the opening.
    • Substantial volume increase during the breakout confirms strength of the upward move, suggesting potential continuation.

    Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

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