$TRX /USDT 4H Chart Analysis
The TRX/USDT pair on the 4-hour chart shows a recent price of $0.2769, up 1.21%. Here's a quick breakdown:
Price Action: TRX/USDT saw a sharp spike to $0.2850 on June 5, followed by a pullback to $0.2769. This suggests a potential rejection at the $0.2850 resistance level, which aligns with the 24H high of $0.2852.
Trend: The chart indicates a short-term uptrend after a consolidation phase around $0.2700, but the recent drop hints at profit-taking or selling pressure.
Volume: A significant volume surge accompanied the spike to $0.2850 (as seen in the volume bars), but it tapered off afterward, indicating reduced buying momentum.
Support/Resistance: Immediate support lies around $0.2700 (recent consolidation zone), with resistance at $0.2850. A break above $0.2850 could target $0.2900, while a drop below $0.2700 may test $0.2661 (24H low).
Volatility: The 24H range ($0.2661–$0.2852) shows decent volatility, with $175.84M in USDT volume, suggesting active trading interest.
Outlook: The pair looks indecisive after the failed breakout. Watch for a confirmed break above $0.2850 for bullish continuation or a drop below $0.2700 for bearish momentum.
What do you think about TRX’s next move? 🚀
