Tron (TRX) is showing signs of mixed bullish momentum as it consolidates in a well-defined trading range. TRX has lost 1.5% over the past 24 hours, while it had shown signs of slow recovery. The asset is working within a consolidation range where technical analysis points to a potential breakout rally that could propel the price higher.
On the daily chart, TRX’s price action is contained within a range marked by an overhead resistance at the 23.60% Fibonacci level, approximately $0.2569, and support near $0.2178. This range is significant because it indicates that while the token has maintained stability amid market fluctuations, it is also ripe for a breakout if buying pressure increases.
