Tron’s price has been under pressure this month, falling 5.70% from its year-to-date high, reaching $0.1612 on November 7. If it loses the lower side of the rising broadening wedge pattern on its daily chart, Tron bulls will need to ensure that the Tron price remains above the lower side of this pattern in the near term.
A break below that level will be a sign that bears have prevailed, opening the possibility of it dropping to $0.1462, its lowest level on September 6. Meanwhile, Justin Sun, Tron’s founder, has expressed hope that Tron and other cryptocurrencies, including Ethereum, will bounce back soon, citing improving macro environment.
