TRX Slides 2.04% Amid Resistance Test, But $4M Binance Competition Fuels Trading Surge

TRXUSDT has experienced a 2.04% price decrease over the past 24 hours, with the current price at 0.3117 USDT on Binance. The recent price pullback can be attributed to mixed technical signals, including a rejection at the 0.3205 resistance zone and short-term profit-taking following a previous breakout. Despite this, heightened on-chain activity, such as increased USDT transfers on the Tron network and the launch of a $4 million TRON trading competition on Binance, has supported robust trading volumes, which ranged from $908 million to over $2.6 billion in the last 24 hours. TRON maintains a strong market position with a market capitalization near $30 billion and a circulating supply of approximately 94.74 billion TRX.