TRX Technical Analysis Report | 13th-April-2023

Tron’s TRX token has been delisted from Binance.US. This comes weeks after the US Securities and Exchange Commission sued Tron’s Justin Sun over allegations of unregistered securities sales and airdrops, fraud and market manipulation related to the TRX token. TRX token was down by more than 6% as the news came out but at present trading with a hype of 2% over the day. The global volume for the asset is down by almost 40% in the last 24 hours.

At the time of writing, TRX  was trading at $0.0832

TRX Chart | 13th April 2023
Tron (TRX) Chart

TRX after making a ‘Dragonfly Doji’ candle at the recent low of $ 0.06258  surged almost by 68% within a month and made a high of $0.105. Post this move, the asset witnessed some profit booking at higher levels and the prices corrected to $0.0803. Currently, TRX is trying to take support at the key level of $0.8 (Horizontal Trendline & 50 Day Moving Average). If it holds and sustains above the support then we can expect the bulls to resume the up-move whereas a break below the support will lead to further downfall.

Key Levels:

  Support 2Support 1AssetResistance 1Resistance 2

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