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TRX Rises as Tether Mints $1B Amid Trade War Jitters, Technicals Signal More Upside
As global markets digest the latest fallout from rising trade tensions between major economies, Tron’s native token TRX is making an impressive move, shrugging off broader volatility and charting a recovery.
A major boost came as Tether minted $1 billion USDT on the Tron network, reinforcing the chain’s growing role in institutional stablecoin flows—even as risk-off sentiment rattles traditional assets.
Charting the Bounce:
TRX reversed course from a 7.5% dip, climbing from $0.221 on April 7 to a high of $0.243 by April 10. Analysts highlight a double-bottom formation around $0.226–$0.227, which acted as a springboard for the rally. Volume surged during the rebound, underlining real buying interest.
The move has pushed TRX above key technical levels:
- Support is now set at $0.238, with resistance close by at $0.242.
- TRX has regained the 61.8% Fibonacci retracement, often viewed as a critical inflection point in recovery trends.
- A bullish ascending channel has formed in the past 100 minutes, confirming upward momentum.
- Notably, the token advanced 0.6% from $0.241 to $0.242, with the strongest activity between 10:52 and 10:58.
- A minor pullback to $0.241 around 11:15 created a higher low, reinforcing the pattern’s integrity.
Where to Next?
With Fibonacci extension levels pointing to $0.243 as the next key target, traders are watching for a clean break toward $0.245, a psychological level that could spark further gains.
In the bigger picture, Tron’s price resilience—coupled with large-scale USDT inflows—suggests the blockchain remains a preferred vehicle for digital dollar liquidity, even as macro uncertainty continues to loom.
