TRON Token Report – 16th June’23

TRON (TRX) emerged in 2017 as a decentralized blockchain-powered operating system created by the Tron Foundation. Initially, TRX tokens were built on the Ethereum network as ERC-20 tokens, but after a year, they transitioned to their independent network.

The TRX token is ranked #9 with a market capitalization of nearly $6 billion. The current market price of the token is 0.0692 USDT

The TRX/USDT chart had recently broken above the descending triangle pattern on the daily time frame. Currently, the trend is retesting the breakout levels and we could expect a bounce back from this price level. The next resistance is expected at 0.083 USDT and an immediate support is expected at 0.064 USDT.

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