- TRX has lost over 6% in recent 24 hours.
- The coin is sliding down despite positive fundamentals.
TRX/USD topped at $0.0399 on April, 8 only to slip below $0.028 by the time of writing. The 11th largest cryptocurrency has lost over 6% on a day-on-day basis and became one of the worst-performing coins out of top-20. TRON’s market capitalization has reached $1.8 billion, while an average daily trading volume settled at $461 million.
What’s going on
TRON’s project is bubbling with updates and news. There are a lot of developments and updates either implemented or scheduled in the nearest future. Thus, Tron Foundation recently announced TRX listing on a cryptocurrency exchange CoinTiger. The asset is initially available in pairs ETH/TRX, XRP/TRX, EOS/TRX, LTC. /TRX, XLM/TRX, BTT/TRX .
However, the fundamental developments seem to have little effect on the price influenced mostly by sentiments and technical factors.
TRON’s technical picture
TRX/USD bulls stopped short of $0.0310 handle, which proved to be a hard nut to crack. We might see more sell-off towards $0.0250 (DMA100) before the upside trend is resumed. However, if this barrier is cleared, the downside may be extended towards $0.0224-$0.0220. This area includes DMA200 and the lower boundary of the previous channel.
On the upside, a sustainable move above $0.0300 will bring more buyers to the market with the next focus on $0.3100.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.