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Tron price analysis: TRX/USD vulnerabilities remain tilted to the downside

  • Tron is trading down over 3% in the session on Thursday.
  • TRX/USD price action is moving within consolidation mode, at risk of another bear attack.

The Tron price is nursing losses of some 3% in the latter part of Thursday, as it continues to consolidate. Volatility has largely calmed down, following the chunky price rally late in October, as seen across the market.

TRX/USD is flirting with a critical daily support level, which is seen tracking at $0.01900. It has proven to be a bottom area since 31 October, failure to hold could open the door to fresh selling by the bears. 

Given the fast move to the upside between 24-29 October, a short period of time, it does make the price vulnerable to a potential correction. The next major area of support is eyed back down at $0.014000 – 0.011150 range. Price action is capped to the upside by resistance at $0.025000.

TRX/USD daily chart

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