The price of Tron (TRX) has lost a big portion of its value over the past few days. The TRX price is now trading at $0.0349, after losing 8% in 24 hours.
Technically, Tron is now trading on D1 with major support at $0.0230 and resistance at $0.1004. In the midterm, Tron is trading within a descending channel and trying to reach support.
In the short term, the price of Tron seems to be pulling back. After testing the midterm channel resistance, Tron will apparently try to go up towards $0.0460. However, a breakout is also possible and in a case like this, the price can head down to $0.0290.
One of the positive aspects of Tron’s future, however, is the Ledger Nano S wallet which now supports Tron and Zcoin. Previously, the users of Tron were not able to use such wallets to store their money.
On top of this, Tron has been getting much attention lately – especially after crypto migrated to its own blockchain platform. This will now enable the ERC-20 tokens to be issued without any consequences, losses or reputation damages.
As surveys by GoogleTrends indicate, Tron is now attracting more and more users – rising to one of the top in-demand altcoins along with Ripple (XRP). The CEO and founder of Tron, Justin Sun, last week had a meeting with the Twitter management. From what the rumors say, Tron may be cooperating with the leading social media giant in order to remove bots from its platform.
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