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  • Tron price upside has been capped below $0.042 since the beginning of this month.
  • The Foundation said that over 70 candidates have already come forth to battle for the 27 seats.

Tron price is still walloping in selling activity despite the minor bullish trend across the market. The upside has been capped below $0.042 since the beginning of this month. The price is forming a classic falling wedge pattern at the moment, however, it is still a long way to an upside breakout.

The latest announcement by Tron Foundation says that Lianjinshu has been voted in as one of Tron Super Representatives. The election commenced on June 26 and will elect 27 representatives. The Foundation said that over 70 candidates have already come forth to battle for the 27 seats. Lianjinshu is a leading player in the building of industry aggregate media, similarly, it is known for pioneering the introduction of various Internet Influential Products. The company is also focused on the advancement of blockchain and related products.

Tron price is hanging at the edge of a cliff at $0.035, the buyers lack a fresh catalyst to sustain higher corrections, while they are struggling to avoid further declines. There is a weak bullish momentum forming at the time of writing, similarly, the moving averages gap is narrowing to show that the buyers are seeking more entries. The MACD, on the other hand, is stuck in the negative regions signaling that the bears are not ready to give up control. On the upside, there will be tough resistance to be faced at $0.038 while the area at $0.040 is a critical level in the recovery towards $0.050.

TRX/USD 1-hour chart