Tron Price Analysis: TRX/USD bulls remain restrained by stubborn supply areas

TRX/USD trading down around 1% on Tuesday, running towards its second consecutive session in the red.
Justin Sun, Tron CEO & Founder, says transactions have reached 2000 TPS which is 200 times more than eCRM.

Ken Chigbo Independent Analyst

TRX/USD is trading in minor negative territory on Tuesday, running at its second consecutive session in the red. This spill over of bear attack continuing, after the price dropped as much as 10%, during the session of Monday.

In recent news flow, Justin Sun, Tron CEO and founder, announced informed that Tron’s transactions have reached 2000 TPS, this is around 200 times more than Ecrm, he detailed in an interview with CNBC. The Tron network continues to excite its community, in addition to the launch of BTT tokens, which contributed in some pumping up of TRX to the most recent push north, before losing some steam.

Technically, via the daily chart view, there is an ascending trend line, that has been running since 21st December, providing comfort. This can be seen tracking around $0.024500, a failure to hold this, could see the price giving up the $0.02000 price territory.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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