TRON [TRX] fell by 2.9% after a recent near-term price reversal. The recent correction followed after price rejection at the $0.05488 level, turning the level into a major short-term resistance. At the time of writing, TRX was trading at $0.05374 after breaking key support at $0.05353 and retesting another at $0.05327. The bears had the upper hand in the market by press time. Therefore, TRX could retest these support levels again or break lower to a previous support range of $0.05187 – $0.05224. 

TRX broke below support at $0.05353, but $0.05327 remained steady. The bears could push TRX prices lower as they have more influence in the market. In particular, the Relative Strength Index (RSI) had retreated above the midpoint and sharply dropped towards the oversold area. This showed a sharp decline in buying pressure as bears took control of the market.

(by Suzuki Shillsalot)