Tron is among one of the most popular names in the world of cryptocurrencies. The currency which powers the Tron blockchain has been gaining a lot of momentum in the recent past. Tron’s TRX cryptocurrency is marked 15th in the list of most popular cryptocurrencies by market cap.
Tron price, over the past 24 hours has shown a 7.25% fall. The currency started the day at a price of $0.044 and closed the day at $0.040. The lowest point of the day came when Tron price hit $0.039. Tron’s market cap suffered a loss of $300 Million as it fell from $2.9 Billion to $2.6 Billion.
The fall in Tron price is even more significant when you look at how the currency has performed over the week. Tron (TRX) opened the week at $0.051 and closed it at $0.040. The market cap at the beginning of the week was $3.3 Billion – which has taken quite a hit since then.
Market experts believe that Tron is at a ‘make it or break it’ point from where the currency may not be able to make it past the resistance and end up losing a lot of it’s price. A strong downtrend approaches Tron and it might not be the best idea to buy more Tron at this point of time.
Those holding Tron must also ensure that they set up appropriate stop-loss measures to bear any financial instabilities that this fluctuation in Tron prices may bring. That being said, there’s still a slight chance that the currency might just ‘make it’ and slide beyond the thick lines of resistance – but that remains as a faint hope for now.
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