Tron price analysis: TRX/USD back below $0.060 as MainNet launch hype is over

• TRON down 2% the only coin in red from top-10.
• MainNet hype is over, but Tron’s community is enthusiastic.

Tron, now the 10th largest digital asset by market capitalization, is under selling pressure. It has lost over 2% since this time on Thursday, though it is mostly unchanged since the start of the day. TRX/USD is changing hands at $0.5970, off the Asian low at $0.5860.

Tron has been very popular ahead of MainNet launch, spiking to $0.0840 on May 21. However, now that the hype subsided, Tron turned into an outsider, becoming the only coin in red from the top-10 batch.  While some traders find this development discouraging, long-term investors ignore this failure focusing on long-term potentials.  

Thus,  John McAfee, one of the top crypto influencers, continue to support Tron as one of the game-changers in crypto universe.

“Mainnet Odyssey 2.0 is live! #TRON is now in consensus phase, where we will work together with community developers and exchanges to pave the way towards TRON Independence Day,” Justin Sun. Tron’s Founder tweeted.

Tron’s short-term technical picture

As it is shown on the hourly chart, TRX/USD is still below 50-SMA currently at $0.0600 and below  $0.0614  (50% Fibo). A sustainable movement higher will allow the move towards $0.0664 (200-SMA).  On the downside, the local bearish target is at $0.05700.  

TRX/USD, the hourly chart