After a sharp dump, some altcoins have started their correction wave. Mainly, Litecoin (LTC) has rocketed by more than 10% over the last day.
The rate of TRX has fallen by around 2% over the past 24 hours, however, the decline over the last week has been more profound.
Relevant data for TRON is below.
Market Cap: $683 846 714
Volume (24h): $1 792 012 492
Change (24h): -0.35%
The data is relevant at press time.
TRX/USD: Bounce off the support zone at $0.01
Despite attempts to recover from the dump, the TRON (TRX) price has dropped by 40% over the last week.
On the 4H chart, TRX is forming short-term growth. It is too early to think about a trend reversal, however, growth to the next liquidity level of $0.12 is about to happen. Moreover, the coin is oversold enough and there are no more active sellers to push the price lower.
On a bigger time frame, the bearish trend has just begun. The Moving averages on the daily chart are starting to drop, as well as the MACD indicator, which is already located in the red zone.
In this case, one can expect one more price drop to $0.006 before a correction wave upward.
TRX is trading at $0.0107 at press time.
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