$0.064 Support Breakdown Position TRX Price For 10% Fall

The Tron (TRX) price wobbled between the $0712 and $0.067 barriers for nearly two months. This breakdown from the bottom support indicates the end of the prior correction, and sellers may extend the correction.

Timeline of Tron

The two-month consolidation in TRX price resulted in the sellers' favor as the they pierced the $0.063 support. This breakdown should encourage the ongoing correction and plunge the price to the next supply zone at $0.00576; should you enter a short position?

Tron beats top cryptocurrencies Bitcoin and Ethereum in the energy saving department, new research shows. Web3 has gained a very poor reputation in the field of environmental protection and sustainable development.

A new report by the Crypto Carbon Ratings Institute (CCRI) showcases the environmental sustainability of the TRON network. According to the “Energy Efficiency and Carbon Footprint of the TRON Blockchain” report, the highly popular TRON network only consumes as much electricity as just fifteen average U.S. households.

Tron's energy usage is relatively very less than that of some of the biggest cryptocurrencies, according to a latest report. Elon Musk's stance on sustainable energy usage for Bitcoin mining sparked a new debate in the crypto ecosystem.

While Ethereum has been scrambling for several years to move across to the Proof-of-Stake protocol, one protocol is light years ahead with its POS energy-efficient consensus that was built from the ground up. TRON has recently ranked as one of the most environmentally friendly blockchains in the entire Web3 arena, no small feat.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice In extending its squeeze within the $0.063-$0.0702 range for over two months now, Tron [TRX] could not escape its low volatility phase.

Tron founder Justin Sun is making the case for why Decentralized USD (USDD) is different than Terra's failed decentralized UST stablecoin. In an interview with CoinGecko, Sun says that USDD, Tron's algorithmic stablecoin, is a hybrid that uses the best aspects of every USD-pegged asset on the market.

The Tron (TRX) price is trapped in a no-trading zone ranging from $0.0712 and $0.067 barriers. However, under the influence of an ascending triangle pattern, the altcoin is most likely to breach the overhead resistance.

As the market's crypto-assets get on board with Ethereum's pump, Tron's TRX continues to falter. In fact, according to CoinMarketCap, TRX is among the leading tokens to register losses over the week.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice While extending its compression in the $0.063-$0.0702 range for nearly seven weeks, Tron [TRX] has been in a low volatility phase.