Tron Price Prediction 2023: For nearly two years, the Tron coin price has strictly followed a descending triangle pattern. This bearish contention pattern consists of a falling trendline which assists sellers on bullish rallies and fixed support levels whose breakdown will accelerate the market selling pressure. In theory, the lower high formation within this pattern reflects the inability of buyers to carry a higher recovery rally. Thus, will the gradual loss of bullish momentum, the buyers lose crucial support, which leads to a prolonged downfall.
Key points:
The $0.05-$0.049 support remains a high accumulation zone and neckline of the triangle pattern
A potential bearish divergence between the 50-and-100-weekly EMA will increase the possibility of neckline breakdown
The intraday trading volume in the TRX coin is $89.5 Million, indicating an 11.2% gain.
Source- Tradingview
By the press time, the TRX price traders at the $0.054 mark with an intraday gain of 0.06%. Furthermore, ami
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