$TRX Price Analysis: Minor Downtrend with Stable Support

🔹 Current Price: $0.16

🔹 1-Hour Change: -0.12%

Technical Analysis:

TRON (TRX) has seen a slight decrease of -0.12%, bringing the price down to $0.16. The recent high of $0.1604 was followed by a consistent decline, indicating that sellers have exerted some control. The price appears to be stabilizing at the $0.16 level, which could act as a support if buyers step in to halt further decline.

The chart indicates a range-bound movement with small fluctuations, suggesting that TRX is consolidating near this support level. A strong move above the recent high could shift the momentum, while holding the $0.16 support is crucial for maintaining stability.

Key Levels to Watch:

• Support: $0.16 - This level needs to hold to avoid further bearish movement.

• Resistance: $0.1604 - A breakout above this point could signal the beginning of a reversal.

Conclusion: TRON is currently in a minor downtrend, finding support at $0.16. Traders should watch for a move above $0.1604 for signs of recovery, while a drop below $0.16 might increase selling pressure.#TetherAEDLaunch #USEquitiesRebound #USElections2024Countdown #NovemberMarketAnalysis