Tron price analysis: TRX dips 11% as bears continue to dominate near $0.09

TL;DR Breakdown Tron dropped 11 percent on intra-day trade, falling to the lowest point since September 7Price continues to slip an is expected to test major support level at $0.08Technical indicators suggest bearish trend is likely to continue unless drastic buying activity is seen Tron price analysis shows worrying signs as the token dropped more than 11 percent over the past 24 hours. After hitting a high of $0.12 only 3 days ago, price has taken a sharp downturn to drop as low as $0.093. It continues to test the support level at $0.08 and is expected to lower before the next bull run. Another worrying sign can be seen in the increasing trading volume that upped 34 percent, suggesting there are massive sell offs taking place in the market, lowering price further. The larger cryptocurrency market followed Tron’s movement downward, led by Bitcoin’s 6 percent decline down to $45,000. Ethereum lowered 7 percent to just above $3,000 while Altcoins also suffered. Serious losses can be observed in major Altcoins, such as Cardano (9 percent), Ripple (9 percent), Solana (10 percent), Dogecoin (8 percent) and Polkadot (8 percent). Tron price analysis: Cryptocurrency heat map. Source: Coin360 TRX/USD 24-hour chart: Descending triangle pattern appears on daily trade A declining red candlestick pattern can be observed on the daily chart for Tron price analysis, justifying the 11 percent price dip. However, trade over the...