Summary
TLDR: Tron (TRX) price has taken a downturn, signaling a bearish trend with indicators pointing to further decline. The project is losing users, and a large chunk of TRX supply is at risk of falling into loss territory. The price is currently trading at $0.1174 and could potentially test the support level of $0.1123. The Ichimoku Cloud indicator suggests a confirmed downtrend for TRX, possibly leading to further decline.
Key Points
1. The Tron (TRX) price took a downturn towards the end of February, just as most of the crypto market began trending upwards, with many even marking new all-time highs.
2. Tron price was noting a potential rise over the past week, which failed to trigger a recovery for the asset. The ongoing decline has considerably impacted the overall growth of the crypto asset and the network.
3. Tron’s price is trading at $0.1174 at the time of writing after failing to breach the barrier marked at $0.1219. The decline, while seemingly halted, is potentially set to continue going forward.