The cryptocurrency market after Christmas has turned red, with most assets suffering heavy losses, including Tron (TRX). Earlier this month, TRX reached a new peak and regained the 10th position by market capitalization, bringing hope to the community.

However, the recent downturn has caused TRX to lose over 43% from its peak of $0.43 down to $0.25. Data from CryptoQuant suggests that TRX may soon form a local bottom.

Analysis indicates that the green trend could be an important support level in this correction. If TRX holds above the green trend, it may signal the beginning of a new upward trend.

Despite facing difficulties, forecasts suggest that TRX could see a slight increase of 2.93% to $0.264 by January 2025, with the Fear & Greed index at a high level. 🌟