Tron price analysis: Mainnet officially goes live, but the price suffers a huge blow below $0.060

• Tron announces a bounty program that will reward people between $100 to $100,000 for find bugs and/or loopholes.
• TRX/USD spiked briefly on Thursday morning but selling pressure slightly below $0.064 opened the door for further declines.

The D-day for Tron blockchain finally arrived and Tron has joined the bandwagon for the fully fledged digital assets with a complete network. Tron has also taken the opportunity to announce a bounty program for rewarding bug finders. It has offered between $100 to $100,000 for people who discover bugs and/or loopholes. Tron CEO Justin Sun during the live stream said:

“Fellow Tronix, the time has finally come – May 31st Tron Main Net launched.” He added, “Today with confidence I announce that the development of Tron’s main net Odyssey 2.0 is complete and all the materials are submitted to GitHub.”

Tron price analysis

Tron price has been unable to break past the descending trendline resistance. TRX/USD spiked briefly on Thursday morning but selling pressure slightly below $0.064 opened the door for further declines. The crypto has been dancing up and down the $0.060 support level, however, it is currently trading at $0.059. The 50 SMA is currently moving to cross below the longer term 200 SMA indicating that the bears have found an entry point and lower corrections are expected in the near-term. $0.058 is a possible buy zone, but $0.056 is another demand zone.

TRX/USD 15′ chart