The TRX/USD pair is currently trading lower after the bulls failed to advance the token’s price following the break of the falling wedge on the daily chart. Traders are still retaining bullish TRX price prediction bets, as the market eagerly awaits the TRON protocol’s Layer 2 scaling and cross-chain solution.
The cross-chain solution combines the BitTorrent network and TRON, resulting in a new BitTorrent Chain network. This network will offer a near-zero transaction fee for all transactions done on its network.
Tron maintains its number three position on Cryptolaxy’s top 10 projects with a market cap of over $5billion by undervaluation index. TRX holders formed part of the recipients of the 4th round of the APENFT airdrop, which provided NFT tokens to those who owned at least 100TRX.
TRX Price Prediction
Following the break of the falling wedge, the measured move appears to have stalled at the 0.10014 resistance. If the bulls overcome the intraday selloff and break this resistance, we could see a push towards the 0.10601 barrier. Above this level, the high of 16 September constitutes an opposition level at 0.12204.
On the flip side, an extension of the intraday decline targets 0.09080 initially. The support pivots at 0.08306 and 0.07533 form additional targets to the south.
TRX/USD Daily Chart
Follow Eno on Twitter.