$TRX /USDT – Bearish Consolidation with Potential for Further Weakness
TRX/USDT is showing a slight decline, trading at $0.2265, down 1.48%. The price has tested support around $0.2264, with a 24h high of $0.2368 and 24h low of $0.2264. Volume stands at 562.52M TRX and 130.78M USDT. The current trading pattern suggests further consolidation near the support zone, with possible further downside if the price breaks below $0.2264.
Momentum Analysis
TRX is under pressure, with limited upward momentum and market weakness observed across multiple timeframes.
Breakout Confirmation
A significant move to the downside could confirm a bearish trend if the price breaks below $0.2264. Watch for potential support around $0.2258.
Pro Tip
Be cautious of false breakouts. Traders should wait for a solid confirmation below support before considering additional short positions.
Hashtags
