TRX Breaks Resistance With 3% Surge Amid Growing Stablecoin Adoption
Global economic uncertainty continues to shape cryptocurrency performance as geopolitical tensions between major economies intensify. TRON (TRX) has demonstrated resilience amid market fluctuations, maintaining price levels around $0.26 despite broader market volatility, with its stablecoin ecosystem expanding significantly as traders seek stability during uncertain economic conditions.
Technical Analysis Highlights
- TRX climbed from $0.261 to peak at $0.268, representing a range of 0.008 (3.07%), according to CoinDesk Research’s technical analysis veri model.
- Price action formed a clear ascending channel with strong volume support at the $0.265 level.
- Notable volume exceeding 125M occurred during the 00:00-02:00 period.
- A resistance breakthrough occurred at $0.264, followed by consolidation above this new support level.
- Final hours showed profit-taking with a pullback to $0.264, still maintaining a 1.3% gain.
- Last hour saw significant downward pressure with a 0.82% drop from $0.266 to $0.263.
- Descending channel formed with notable volume spikes at 05:12, 05:21, and 05:28.
- Selling pressure exceeded 8-11M in volume at key points.
- Critical support breakdown occurred at $0.264 around 05:28.
- Final 15 minutes showed attempted stabilization with decreasing volatility.
- Price failed to reclaim the $0.264 level, suggesting continued bearish sentiment short-term.
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.
