Dream

Story

TRON

Read

Rise

<div id="story-highlight-pattern-block" class="wp-block-group">
  
 <div id="story-highlights" class="wp-block-group">
   
  <h3 class="wp-block-heading the-subtitle" id="story-highlights">Story Highlights</h3>   
  <ul class="wp-block-list story-highlights-list">
    
   <li>The Tron price recorded a new ATH of $0.4407 this month.</li>   
   <li>However, the price has plunged over 33% since its all-time high.</li>   
   <li>The technical indicators display increased bearish sentiment, highlighting a negative outlook.</li> 
  </ul>   
  <p>The Tron price continues to display a negative price action by losing significant value from its portfolio over the past few days. Notably, this altcoin is presently trading at a discount of 33% from its ATH.</p>   
  <p>Considering the present market sentiments, is the Tron dream run exhausted? Or will this altcoin make a comeback and head toward a new high?</p>   
  <h2 class="wp-block-heading" id="h-trx-price-slits-1-3rd-its-valuation-this-week">TRX Price Slits 1/3rd Its Valuation This Week!</h2>   
  <p>The Tron price has dropped ~5% in 24 hours with a trading volume of $1.35 billion. Despite recording a surge of over 45% in seven days, it has plunged 33.27% in the last 5 days. This indicates a strong bearish reversal.</p>   
  <figure class="wp-block-image size-large">
   <img src="https://image.coinpedia.org/wp-content/uploads/2024/12/09190326/Tron-Price-Analysis-09th-December-2024.pngth-December-1-1024x544.webp" alt="Tron Price Slits 1/3rd Its Valuation This Week!" class="wp-image-391097">
   <figcaption class="wp-element-caption">
    TradingView: TRX/USDT
   </figcaption>
  </figure>   
  <p>The Simple Moving Average (SMA) is on the verge of displaying a bearish crossover in the daily time frame. This highlights an increase in the selling pressure for the altcoin in the market.</p>   
  <p>Further, the Relative Strength Index (RSI) has recorded a significant downtrend, with its average trendline experiencing a negative convergence. This suggests a negative outlook for the Tron price this week.</p>   
  <h2 class="wp-block-heading" id="h-will-tron-rise-back-up">Will Tron Rise Back Up?</h2>   
  <p>Maintaining the price above its support level of $0.30 will set the stage for it to head toward its resistance level of $0.350. Furthermore, if the bullish sentiment sustains, this altcoin may retest its upper resistance level of $0.40 this month.</p>   
  <p>On the contrary, if the bears outrun the bulls, the TRX coin price will retest its support level of $0.250. Moreover, if the bearish sentiment intensifies, this could pull the price of this altcoin toward its low of $0.20.</p>   
  <p>Wondering about the long-term price prospects of TRX token? Read CoinPedia’s <a href="https://coinpedia.org/price-prediction/trx-tron-price-prediction/" target="_blank" rel="noreferrer noopener">Tron Price Prediction</a>. Also, subscribe to us to stay updated on the latest cryptocurrency news!</p>   
  <h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
  <div class="schema-faq wp-block-yoast-faq-block">
   <div class="schema-faq-section" id="faq-question-1733750962798">
    <strong class="schema-faq-question"><strong>Will TRON reach $1?</strong></strong> 
    <p class="schema-faq-answer">For TRX price to achieve this target, it will require a surge of 234.67% in its current valuation.</p> 
   </div> 
   <div class="schema-faq-section" id="faq-question-1733750963545">
    <strong class="schema-faq-question"><strong>How much is TRX worth right now?</strong></strong> 
    <p class="schema-faq-answer">With a 24-hour trading volume of $1.351 billion, the Tron token is currently valued at $0.2988.</p> 
   </div> 
  </div> 
 </div> 
</div>

Tron (TRX) Price Dream Run Over With A 33% Drop This Week?

Table of Contents

CoinPedia News

Other articles published on Dec 9, 2024

Maverick Protocol aims to bring ‘MemeFi’ to Base

What’s Behind the Rise of Utility Coins Like XLM and VET?

Anita AI: The First AI-Driven Influencer Launches Her Own Token, $ANITA

Shiba Inu (SHIB) May Run, But Rising $0.125 Token Will Still Flip its Market Cap in the Coming Bu...

India partners with DC Wallet and AFC India to boost digital rupee adoption

Understanding Modular Blockchain: A New Frontier in Blockchain Design

Join our free newsletter for daily crypto updates!