Can TRON (TRX) Break Out of Its Negative Trend?

TRON has suffered hard since the fall in May 2021. Further selling pressure on this cryptocurrency can push it down to $0.02 levels. Learn more about the crucial support and resistance levels to watch out for. Breaking all major supports has pushed it to new lows, Failure to breakout from current levels will only be pushing the TRX price to a year low of $0.17.

TRON Technical Analysis

While most other cryptocurrencies have indicated a positive price action, TRON is still reeling under selling pressure. Even with the bounce back it is not even to be deemed worthy of investing in. TRON is rather on a negative trendline, there can be a breakout in the days to come but the current price action doesn’t have the momentum required for a positive breakout.

While falling RSI from the oversold zone even at lower levels, indicates there are higher volumes being traded. If TRX price can reach a $0.06 value on a closing basis there will be some positivity but at current levels, it is headed towards a doom event. Although MACD is trading on the positive axis, the current valuation of TRON is indicating a negative sentiment on a broader time frame.