Amid the latest market turmoil, TRX has continued to demonstrate resilience with a modest gain of roughly 1% over the last 24 hours. While it appears slightly bullish on the daily chart, the price has been notably stagnant over the past two weeks, leaving many in the crypto community speculating about its next move.
After a slow but steady recovery over the last two months, TRX made a notable attempt to breach the $0.28 level last week. However, it encountered resistance here, preventing further upward movement. This week, it attempted to revisit this key level but was thwarted by a broader market downturn triggered by a significant drop in Bitcoin’s price.
In contrast to many altcoins suffering heavy losses, TRX has maintained a calm demeanor. This relative stability amidst market chaos suggests a potential buildup of momentum, hinting at a significant price movement on the horizon. Observers recall a similar period of accumulation in late 2024, leading to a notable price explosion. Could history be set to repeat itself?
TRX’s Key Level to Watch
Source: Tradingview
The current battleground for TRX is the $0.28 level, which stands as a formidable resistance. Should it successfully break through this barrier, it could trigger a rally towards the next resistance zone around $0.31, with the potential to reach even higher levels of $0.35 and eventually $0.4 and $0.45 in the future.
Conversely, should the price fail to maintain support at $0.26, we could see a rollback to $0.24. Below that, the next critical support level lies at $0.21, which traders are closely monitoring in case of further downward pressure.
Key Levels to Watch:
- Key Resistance Levels: $0.28, $0.31, $0.35
- Key Support Levels: $0.26, $0.24, $0.21
- Spot Price: $0.27
- Trend: Neutral-Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always conduct thorough research before making any cryptocurrency investment decisions.
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