Summary
TLDR: Tron’s price is likely to witness an 18% drawdown due to bearish market cues and profit-taking. A Death Cross on the daily chart suggests further losses, with a potential decline to $0.089. Reclaiming the $0.113 level could prevent this outcome.
Key Points
1. Tron (TRX) price is on the verge of witnessing corrections owing to broader market cues and profit taking.
2. The likely outcome is an 18% drawdown, which can only be prevented if this support level is reclaimed.
3. Tron’s price noted a successful rally from early January to February end which flipped into corrections starting March.