- Tron down 3% due to overall bearish sentiments.
- Critical resistance is seen at $0.0580.
Tron, the 10th largest digital asset by market capitalization, is trading at $0.0570 under selling pressure. Tron’s market value is $3.7B and average trading volume is $169M. The coin has lost nearly 3.5% on daily basis.
Tron’s community is waiting for the “Independence Day” scheduled on June 25, though it provides little support to the coin, which is influenced by general cryptocurrency market sentiments.
Tron’s short-term technical picture
As it is shown on 30-min chart, TRX/USD is supported by $0.0550. Once this level is cleared, the downside may be extended towards $0.0500, which is considered to be critical in the short-term. The resistance is created by $0.0580 with the confluence of 100 and 200-SMAs and the sloping trendline. Tron needs to break higher to improve the intraday picture and move towards $0.0600 with 50% Fibo at $0.0614.
TRX/USD, 30-min chart
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