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TRX Rallies 10% as Tether Mints $1B on Tron Amid Global Trade Tensions
Updated Apr 10, 2025, 7:46 p.m. Published Apr 10, 2025, 3:27 p.m.
What to know:
- TRX rebounds 10% in 3 days, defying market jitters with a strong double-bottom and bullish momentum.
- Tether mints 1B USDT on Tron, signaling institutional confidence amid global economic uncertainty.
Amid growing trade disputes between major economies, cryptocurrency markets are showing mixed reactions, with demonstrating particular resilience.
Tether's recent minting of 1 billion USDT on the Tron network signals continued institutional interest despite market volatility.
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Technical Analysis Highlights
- TRX recovered from a 7.5% correction, rebounding from 0.221 on April 7th to reach 0.243 by April 10th.
- A clear double-bottom pattern formed around the 0.226-0.227 support zone, with significantly increased volume during the recovery phase, according to CoinDesk Research's technical analysis model.
- The 48-hour analysis shows a decisive uptrend with higher lows and higher highs, establishing strong support at 0.238 and resistance at 0.242.
- Fibonacci retracement levels indicate the current rally has reclaimed the 61.8% level of the previous decline.
- Momentum indicators point to continued bullish sentiment as TRX approaches the key psychological level of 0.245.
- In the last 100 minutes of trading, TRX gained 0.6% from 0.241 to 0.242, forming a clear ascending channel pattern.
- Strong buying pressure occurred between 10:52-10:58, with TRX surging from 0.241 to 0.242 on higher-than-average volume.
- A brief pullback to 0.241 around 11:15 established a higher low, maintaining uptrend integrity.
- Fibonacci extension suggests 0.243 as the next target level, with immediate support at 0.241.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
External References:
- TheNewsCrypto, "3 More Altcoins to Add to Your Portfolio If You Bought the Solana Dip," published April 8, 2025.
- Cryptopolitan, "AI Predicts 22,140% Gains For Mutuum Finance (MUTM) & 405% For , But Says To Sell & Ripple (XRP) Fast," published April 7, 2025.
- Bitcoinist, "XRP To Flip Bitcoin This Cycle? Analyst Points To Major Bounce," published April 8, 2025.
- Bitcoin Sistemi, "New Statement from Founder Justin Sun on FDUSD Crisis," published April 5, 2025.
- U.Today, " May Flip Soon," published April 8, 2025.
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