TRX Surges 3% as Stablecoin Adoption Expands Amid Economic Uncertainty
Global economic uncertainty is impacting cryptocurrency performance, with geopolitical tensions affecting major economies. TRON (TRX) has shown resilience, maintaining a price around $0.26 while its stablecoin ecosystem expands.
Technical Analysis Highlights
- TRX increased from $0.261 to a peak of $0.268, a rise of 3.07%.
- Price action displayed an ascending channel with strong volume support at $0.265.
- Volume exceeded 125M during the 00:00-02:00 period.
- Resistance was broken at $0.264, followed by consolidation above this support.
- Profit-taking led to a pullback to $0.264, with a net gain of 1.3%.
- A downward movement occurred, dropping 0.82% from $0.266 to $0.263.
- A descending channel formed with volume spikes noted at several intervals.
- Selling pressure hit 8-11M in volume at critical points.
- Support broke down at $0.264 around 05:28.
- Final minutes showed attempts at stabilization amid decreasing volatility.
- Failure to reclaim the $0.264 level indicates continued bearish sentiment short-term.