TRON Risks Ban by US SEC for $20m Buyback
Despite Justin Sun's "multitaneous" tweets, momentum keeps fading from the TRON markets as we saw price revisited a crucial trendline support over the past week. Perhaps investors fear that the US SEC might see TRON as a security following the recent kickstart of a $20 million TRX buyback by the TRON Foundation and slap a trade ban.
In terms of technical, the bears are seizing the opportunity of a potential double top bearish pattern to trickle price down further. So far, the only holdback is the ascending trendline support but it seems the odds are currently in favor of a breach below this key level soon. As long as price remains in the NO TRADE ZONE, risk-averse traders should stay away from the TRX/USDT markets until the pair bottoms out or breaks out, whichever comes first.
In terms of technical, the bears are seizing the opportunity of a potential double top bearish pattern to trickle price down further. So far, the only holdback is the ascending trendline support but it seems the odds are currently in favor of a breach below this key level soon. As long as price remains in the NO TRADE ZONE, risk-averse traders should stay away from the TRX/USDT markets until the pair bottoms out or breaks out, whichever comes first.
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