The cryptocurrency market shows mixed signals since geopolitical developments create opportunities and challenges for digital assets.
Tron’s Token Trx demonstrated a remarkable force with a 4.8% rally for a recent 24 -hour period, rising from $ 0.264 to $ 0.276 before experiencing a slight correction.
This upward trend coincided with Tron achieving a significant milestone by exceeding Ethereum as the block chain with the largest circulation of the USDT, now hosting $ 73.8 billion compared to the $ 71.9 billion Ethereum.
The White House announcement of a recent commercial agreement between the United States and China has indicated a potential cooling in commercial tensions, providing an impulse to the feeling of the market. Meanwhile, institutional adoption continues to accelerate, with the addition of coinbase to the S&P 500 highlighting the growing general acceptance of digital assets.
TECHNICAL ANALYSIS
- TRX rose from $ 0.264 to a peak of $ 0.276, which represents a range of 4.8% with a volume higher than the average at key points.
- Strong purchase pressure established support at $ 0.265 during the 13: 00-14: 00 and 19:00 sessions.
- A remarkable resistance zone arose about $ 0.275, with a price that is consolidated near this level before a slight setback.
- The highest minimums consisting throughout the period suggest a continuous continuous impulse.
- In the last hour, TRX reached a peak of $ 0.276 at 07:48 before entering an acute correction phase.
- The price decreased approximately 0.9% of its maximum per hour to $ 0.273, with a large sales volume (11.8 m) at 08:08.
- A new support level was established around $ 0.274 with multiple failed attempts to claim $ 0.275.
- The recent price action indicates the consolidation between $ 0.273- $ 0.274, with a modest emerging purchase near session.
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