Last month, the price hit the top resistance of the triangle and plummeted through the $0.018 support and bouncing hard off at $0.012. The bounce was enough for TRX to nearly get back to $0.018 but was denied and has since fallen back to $0.015.
Considering the is overbought and the previous patterns TRX has gone through, it is most likely that it will consolidate at its new level in the range of $0.01 to $0.016 until the end of January in the coming year.
Traders should be wary about going all in at these levels, however, in case of further Bitcoin ( BTC ) decline. TRX is still much above its all-time low and still has plenty of room to fall.
A worst-case scenario could bring the token price back to the half-cent range.
Read the entire analysis @ BeInCrypto: https://beincrypto.com/will-tron-trx-ska...