TRX Climbs as Tether Mints $1B on Tron, Market Eyes 0.245 Breakout Amid Trade Turmoil
As global trade tensions escalate between major economic powers, crypto markets remain choppy—but Tron (TRX) is holding strong, showing signs of sustained upward momentum.
A major catalyst came in the form of Tether’s $1 billion USDT mint on the Tron network, reinforcing institutional interest in Tron-based assets even amid broader market uncertainty.
Technical Snapshot: Bullish Patterns Emerge
- TRX rebounded sharply from a 7.5% decline, bouncing from $0.221 on April 7 to $0.243 by April 10.
- A double-bottom formation near the $0.226–$0.227 support zone helped solidify the base for recovery, with volume surging during the rally.
- Price action over the past 48 hours reflects a steady uptrend, defined by a pattern of higher highs and higher lows, with clear support at $0.238 and resistance at $0.242.
- TRX has reclaimed the 61.8% Fibonacci retracement level of its prior downtrend, signaling strength.
- Momentum indicators suggest bullish sentiment is intact as the token pushes toward the psychological threshold of $0.245.
- Over the last 100 minutes, TRX advanced 0.6%, from $0.241 to $0.242, forming an ascending channel on short-term charts.
- Notable buying pressure was observed between 10:52 and 10:58, when TRX jumped a full cent on elevated volume.
- A slight dip to $0.241 around 11:15 established a higher low, further validating the bullish structure.
- Fibonacci extensions point to $0.243 as the next resistance level, with firm short-term support now confirmed at $0.241.
With market uncertainty still lingering due to trade policies, TRX’s performance could position it as a relative safe haven in the crypto space—at least for now.
