TRON (TRX) Shows Bullish Signals as Price Eyes Breakout Above $0.2723
TRON (TRX) is currently showing signs of a potential bullish breakout as it stabilizes around $0.2706, with key technical indicators hinting at upward momentum. The cryptocurrency has recently recovered from a pullback, finding support at $0.2639 while facing resistance at $0.2723. A decisive break above this resistance level could open the door for further gains, making this a critical juncture for TRX traders and investors.
TRON (TRX) Poised for Breakout as Bulls Regain Control Above $0.2700
TRON (TRX) is stabilizing at $0.2706 after a recent pullback, with its price caught between resistance at $0.2723 and support at $0.2639. The Relative Strength Index (RSI) is recovering NEAR neutral levels, while the Moving Average Convergence Divergence (MACD) has just flashed a bullish crossover—a potential signal for upward momentum.
A decisive break above $0.2723 could propel TRX toward higher levels, whereas failure to hold this ground may trigger a retest of recent lows. The cryptocurrency has been riding a broader bullish trend since early April, climbing from below $0.23 to recent highs above $0.275. Now, it faces a critical technical juncture as it hovers near the 9 EMA and middle Bollinger Band at $0.2693.
Bollinger Bands are narrowing, suggesting subdued volatility and the likelihood of an impending significant move. With the 50 SMA and 100 SMA acting as overhead resistance and the 200 SMA providing support, TRX’s next directional shift hinges on whether bulls can sustain control.
Taiwanese Crypto Exchange BitoPro Suspected of $11.5M Hack in May, ZachXBT Reports
BitoPro, a Taiwan-based cryptocurrency exchange, allegedly suffered a security breach on May 8, resulting in the loss of over $11.5 million worth of digital assets. Blockchain investigator ZachXBT revealed the exploit involved unauthorized access to the exchange’s hot wallets across multiple blockchains, including Ethereum, Tron, Solana, and Polygon.
The stolen funds were reportedly sold on decentralized exchanges, with proceeds funneled through privacy tools like Tornado Cash and THORChain before being obscured via Wasabi Wallet, a Bitcoin mixing service. BitoPro has not publicly acknowledged the incident, instead attributing a service suspension last month to "system maintenance."
Operating since 2018 under BitoGroup, the exchange primarily serves the Taiwanese market with TWD trading pairs for major cryptocurrencies. Despite processing $20 million in daily volume—making it the island’s top local exchange—the platform maintained unusual silence about the breach across social channels.
TRON Faces Bearish Pressure as TRX Struggles to Break Key Resistance
TRON’s TRX token is testing investor patience as it repeatedly fails to sustain momentum above the critical $0.274 resistance level. The digital asset has faced two rejections at this price ceiling in recent weeks, each followed by a retreat toward $0.266—a pattern that suggests weakening bullish conviction.
The token remains trapped in a five-month trading range between $0.22 support and $0.274 resistance, with the $0.2475 midpoint serving as a historical pivot point. While TRX successfully consolidated near this level before April’s rally, current on-balance volume trends paint a concerning picture of dwindling demand.
Market technicians note that any legitimate breakout WOULD require both a decisive price move above resistance and accompanying volume confirmation. Until then, the bears maintain the upper hand in this ongoing tug-of-war.
