Will Tron (TRX) Recover From Crypto ‘Crash’? - Kakiforex.com - Financial Market Media No. 1 in the World Will Tron (TRX) Recover From Crypto ‘Crash’? Will Tron (TRX) Recover From Crypto ‘Crash’?
InstaForex

May 24, 2021

Will Tron (TRX) Recover From Crypto ‘Crash’?

 Recently, Tron CEO and Founder Justin Sun announced that he had bought Bitcoin (BTC) worth more than $ 150 million at an average price of around $ 36,800 a few days ago.


Justin Sun is no stranger to decentralized technology, as CEO of BitTorrent and TRON, he has seen a very significant value in Bitcoin in terms of a strong network of currencies around the world. As such, he is very confident that BTC will continue to thrive in the future.


Examining the TRX/USDT chart, it can be seen that the TRX failed to break the $ 0.093 RBS zone on last weekend’s rise down 40% to a low of around $ 0.055.


If the TRX price movement manages to break the $ 0.093 resistance level, the next upside target is the SBR (support become resistance) zone around the $ 0.11 - $ 0.12 price to test.



However, if the TRX price falls even lower below the $ 0.060 support zone, the price will record the latest 2 -month low with expectations heading to the level of around $ 0.040.


At the time of writing, TRX traded $ 0.63 making an increase of over 16% from its lows.