Bearish TRX price predictions are trailing the move of eToro US to limit trading on specific crypto pairs. TRON is one of the affected cryptos, with price sliding significantly on the announcement.
According to the announcement, US users can no longer trade and stake TRON and Cardano tokens, citing regulatory concerns. The ban will take off on 26 December for those seeking to open new positions, while the staking limitation kicks in on the last day of the year.
However, TRON is pushing for recovery but still faces headwinds as it tries to scale intraday resistance at 0.10014.
A look at the 4-hour chart shows the TRX/USDT pair violating the 0.10014 resistance. A confirmed breach of this level allows the pair to aim for the barrier at 0.10601. 0.11030 and 0.11381 are additional price targets to the north.
On the other hand, failure to attain the time/price filter confirmation of the break of 0.10014 could allow the bears into the fold, targeting 0.09681 with a rejection move. Below this level, 0.09080 forms an additional downside pivot, leaving 0.08306 as potential support that only comes into the mix if the price skids heavily.
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This post was last modified on Nov 25, 2021, 17:31 GMT 17:31