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Tron (TRX) Price Analysis and Expected Growth Levels

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by Giorgi Kostiuk

7 hours ago


Tron (TRX) remains stable amid the cryptocurrency market recovery, despite high traders' liquidation positions.

TRX Current Price Momentum

Currently, TRX is trading near $0.223, maintaining stability over the past 24 hours. During this period, trading volume dropped by 15%, indicating more cautious actions by traders and investors compared to the previous day.

Traders' Market Positions

Data from Coinglass reveals that traders are highly leveraged at $0.2167, believing the asset's price won't drop below this level. Meanwhile, $2 million in short positions are held at $0.2257, assuming the price won't exceed this level.

Data shows traders' excessive leverage at $0.2167 and $0.2257 levels.Coinglass

TRX Action and Future Levels

Amid recent market uncertainties, TRX has reached the lower channel pattern level and experts believe it is poised for a rally. If the asset breaks out of consolidation and closes a daily candle above $0.225, it is likely to rise by 11% to reach $0.25 in the coming days.

Despite challenges, TRX remains above the 200 EMA on the daily chart, which typically indicates a bullish trend.

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