Tron is Struggling to Recover above $0.1200
Tron (TRX) has seen a modest rise of 0.7% this week, reaching $0.1209, with earlier gains peaking at 3.1% when the token briefly climbed to $0.1240 on Wednesday. However, much of these gains were eroded amidst broader market downturns.
In contrast to Bitcoin's 15.5% gain in March, Tron experienced a 13.0% loss during the same period, reflecting its underperformance exacerbated by regulatory pressures from the U.S. Securities and Exchange Commission (SEC). The token dipped below the $0.1200 support level, hitting $0.1098 on March 20, before partially recovering from its losses.
There are no good news for Tron. Its founder Justin Sun it trying to create some alternative news speculating around AI issues. He was also asking the U.S. Court to Dismiss SEC lawsuit.
Investors may find solace in the hope that the $0.1200 support level holds, especially if no additional pressures are exerted on the crypto market. In such a scenario, Tron could potentially stage a recovery towards the $0.1400 resistance level.
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