TRON price continues to consolidate under $0.0167 price mark, and currently, it is trading towards its key support area around $0.0155. The past seven days have seen the TRX coin go through hefty price fluctuations with the price being in the range between $0.0150 – $0.0167.
TRON Price Analysis
Since mid of April, TRX coin marked steady upside momentum, and recently, it breached a key resistance at $0.0167 despite the ongoing bearish consolidation. The ongoing week started on a low note for the currency at $0.0153. However, TRON gathered momentum and reached a high of $0.0165 on the first day, but later, it faced slight correction. Then, it regained pace and crossed its resistance level at $0.0167 and reached $0.01679 on May 3.
After that, the TRX price faced rejection due to selling pressure, and the price corrected down to $0.0150 by a massive fall of 10.61%. However, the currency managed to recover and reflected a gradual upside movement and reached $0.01677, but it fails to cross its resistance. Later, TRON coin again faced downside correction on the same day and fell to $0.0156. After this moderate fall, the coin continued to trade stably around $0.016, and at the press time, it spotted at $0.0159.
The current price movement of TRX/USD reflects that the selling pressure is still intact, and as per the TRON prediction, the price might fell to its key support zone around $0.0155.