On-Chain USDT Hits Record $73.8 Billion

Global economic uncertainty weighs in cryptocurrency markets because TRX consolidates after his recent unsuccessful leak attempt.

The token, which created a commercial range between 0.271 and $ 0.278, has shown resistance despite the growing tension of trade between the main economies.

Tron’s Blockchain continues to demonstrate strong foundations and processes over $ 1 billion in the daily volume of transactions, while retaining its primary network for USDT circulation with more than 70% market share.

Emphasizing technical analysis

• TRX-USD has set up a 24-hour business range of $ 0.271 to $ 0.278, which represents 2.95% of the range.
• During 05:00 with a large volume (121.2 m), it reached $ 0.278, but failed to maintain dynamics.
• The resistance zone consisted of around $ 0.277-0.278, with the support set at $ 0.271, tested twice as with increasing volume.
• The price action shows consolidation after refusal at resistance, with $ 0.273 sitting near the center of the range.
• In the last hour, there was a significant bull momentum, which was released from consolidation with a move from 0.271 to $ 0.272.
• Remarkable reversal at 13:34 recorded Spike Volume to 5.4 m when TRX increased from 0.270 to $ 0.271.
• Momentum accelerated between $ 13: 55-14: 00, with the price reached $ 0.272620 and set a new level of resistance.
• Despite a short pullback to $ 0.272052, a strong shopping pressure maintained support over $ 0.272.
• The hour was closed to $ 0.272442, which represents a profit of 0.5% of the hole.
• A significant increase in volume during escape confirms the power of ascending draft, indicating a potential continuation.

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