- Tron price on Monday is seen holding steady, with gains seen of 2%.
- Justin Sun announced a hard fork scheduled for 28th February known as 3.5.
The Tron price was hit with heavy selling pressure in the session on Sunday, dropping as much as 18% in the day. In terms of this aggressive bearish price action, it was seen across the market, with big losses being racked up.
On a positive fundamental update however, Tron’s Justin Sun announced that the network stating that the platform intends to conduct a hard fork on 28th February.
According to the tweet the TRON protocol will upgrade and experience a backward incompatible update on February 28th this year. The 3.5 hard fork will come with four new features, which will overall improve on usability.
Justin Sun tweeted:
TRON will launch 3.5 hard fork upgrade on 2/28. New Features: 1. multi-sig and acct mng, institution ready 2. Dynamic energy adjustment to real-time network performance 3. 50% up performance & res usage 4. Better VM safety, events server for Dapps. Go!
In terms of a technical overview, the falling price has been caught by support around $0.02350, a failure of this holding could then see the $0.02000 price territory under threat. On Sunday, TRX/USD bulls attempted to break back above a breached ascending trend line, which had been in play from late December, until it was broken on 11th February. This will continue to act as resistance until the bulls manage to break back above.
TRX/USD daily chart
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