Tron is approaching key moment that will decide price action of this coin in the near future. After it broke through 0.00000615, a key horizontal support coupled with the key 61.8% Fibonacci support, the coin closed comfortably below both levels and it stopped at the multi-month trend line that provided support to the coin. Since the trend line provided more support to bulls, the coin is now coming back to re-test these levels but now in the context of a resistance. Furthermore, Tron is also feeling the bearish pressure from the down slipping trend line around the current levels. So in general, the coin is currently facing triple resistance.
All in all, it is a decision time for the coin. If there is a significant break above 0.00000630 then we can look for a bigger move to the upside since many bears will be out of the game as their stops are placed just above the triple confluence. If, however, the coin rotates back lower, it will only reaffirm the importance of this level and you can for sure expect another test of the support trend line and, I would say, a fair chance of another break. This would be a super bearish scenario that could ultimately take the price even below the 0.00000500 level.
All in all, it is a decision time for the coin. If there is a significant break above 0.00000630 then we can look for a bigger move to the upside since many bears will be out of the game as their stops are placed just above the triple confluence. If, however, the coin rotates back lower, it will only reaffirm the importance of this level and you can for sure expect another test of the support trend line and, I would say, a fair chance of another break. This would be a super bearish scenario that could ultimately take the price even below the 0.00000500 level.