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.
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.
