Tron’s TRX skyrockets 5% overtaking Ethereum in the USDT circulation

The cryptocurrency market shows mixed signals as geopolitical development creates both opportunities and challenges for digital assets.

Tron’s TRX tokens showed noticeable strength at 4.8% rallies over the last 24 hours, rising from $0.264 to $0.276 before experiencing minor corrections.

This uptrend coincides with Tron achieving a significant milestone by overtaking Ethereum as the blockchain with the largest USDT distribution, and currently hosting $73.8 billion compared to $71.9 billion.

The White House announcement of a recent trade agreement between the US and China shows a potential cooling of trade tensions, boosting market sentiment. Meanwhile, institutional adoption continues to accelerate as Coinbase highlights its mainstream acceptance of digital assets in addition to the S&P 500.

Technical Analysis Highlights

• The TRX rose from $0.264 to a peak of $0.276, representing the 4.8% range with above average volume at key breakout points.
• Strong purchase pressure established support at $0.265 during the 13:00-14:00 and 19:00 sessions.
• The prominent resistance zone appeared at about $0.275, and the price merged near this level before a slight pullback.
• A consistent high and low throughout the period suggests a continuing intense momentum.
• In the final hour, the TRX peaked at $0.276 at 07:48, then entered a sharp correction phase.
• Prices fell about 0.9% from the hourly high to $0.273, with a massive sales volume (11.8m) at 08:08.
• A new support level was established at around $0.274, with multiple unsuccessful attempts trying to regain $0.275.
• Recent price action shows a consolidation of between $0.273 and $0.274, with conservative purchases appearing near the session lowest.

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