$TRX failed to break through the 0.36 resistance and pulled back, forming a bearish reversal candle on the weekly timeframe, with a bearish divergence on the RSI. The price is now near 0.31161, down 6.25% over 24 hours, but selling pressure on shorter timeframes is easing.
The 0.30–0.32 range is the key support that buyers defended previously, while resistance starts at 0.33 and then 0.36.
What is currently weighing on the token is the movement of large quantities of TRX to unknown wallets following Binance’s latest security breach. However, network activity remains strong, with more than 411 million accounts and over $27 billion locked, providing fundamental support for the token.
My view is that the network’s strength may slow the decline, but it does not negate the impact of the transferred amounts. The most likely scenario is a test of the 0.30–0.32 range before any genuine rebound. This is analysis, not financial advice.
#TRX #TRON #BinanceSquare #security
The 0.30–0.32 range is the key support that buyers defended previously, while resistance starts at 0.33 and then 0.36.
What is currently weighing on the token is the movement of large quantities of TRX to unknown wallets following Binance’s latest security breach. However, network activity remains strong, with more than 411 million accounts and over $27 billion locked, providing fundamental support for the token.
My view is that the network’s strength may slow the decline, but it does not negate the impact of the transferred amounts. The most likely scenario is a test of the 0.30–0.32 range before any genuine rebound. This is analysis, not financial advice.
#TRX #TRON #BinanceSquare #security