TRX Struggles at $0.278 Resistance as Trade Tensions Weigh on Markets
TRX Struggles at $0.278 Resistance as Trade Tensions Weigh on Markets
Tron's blockchain processes over $1 billion in daily transactions despite price consolidation.
- US-China trade tensions escalate as new tariff threats send ripples through cryptocurrency markets, with TRX experiencing increased volatility.
- Tron's USDT circulation reaches record $73.8 billion on-chain, cementing its position as the dominant blockchain for stablecoin transactions.
- Major institutional players quietly accumulate TRX positions amid regulatory clarity improvements, with World Liberty Financial's integration boosting investor confidence.
TRX Facing Resistance at $0.278 Amid Trade Tensions
Despite current price consolidation, Tron's blockchain is impressively handling daily transactions exceeding $1 billion.
The recent surge in US-China trade tensions has impacted cryptocurrency markets, inducing added volatility in TRX. On a positive note, Tron's USDT circulation has hit a record-breaking $73.8 billion on-chain, solidifying its status as the leading platform for stablecoin transactions. Noteworthy institutional investors are discreetly amassing TRX positions amidst improvements in regulatory clarity. The integration of World Liberty Financial has contributed to bolstering investor trust in the token.
- 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.
TRX has established a trading range hovering between $0.271 and $0.278 amid escalating global trade uncertainties.
- "Tron (TRX) and Mutuum Finance (MUTM) Target $0.60 In The Next 60 Days As TRX Price Crosses Key $0.25 Level", Cryptopolitan, published May 15, 2025.
- "Tron Price Prediction 2025–2031: Will Tron reach $1?", Cryptopolitan, published May 16, 2025.
