TRX Faces Resistance at $0.278 Amid Global Trade Tensions
Cryptocurrency markets are affected by global economic uncertainties. TRX is consolidating after a failed breakout attempt.
Key points about TRX:
- Established a trading range of $0.271 to $0.278.
- Daily transaction volume exceeds $1 billion; holds over 70% market share for USDT circulation.
- 24-hour range spread is 2.95%.
- Bullish breakout attempt at 05:00 with high volume (121.2M) peaked at $0.278 but could not maintain momentum.
- Resistance formed around $0.277-$0.278; support tested at $0.271.
- Consolidation observed after rejection at resistance, with $0.273 as midpoint.
- Last hour saw bullish momentum; price rose from $0.271 to $0.272.
- Notable volume spike at 13:34 pushed TRX from $0.270 to $0.271.
- Price reached new resistance at $0.272620 between 13:55-14:00.
- Strong buying pressure kept support above $0.272 despite a pullback.
- Closing price was $0.272442, a 0.5% gain from the opening.
- Increased volume during breakout indicates potential continuation.