Tron: This is where TRX could stabilize before its next big move

It has been a while now since the crypto fear and greed index has refrained from changing its outlook from the ‘extreme fear' zone. However, after a drop toward the $0.04-level, Tron TRX saw a revival while compressing between the two up-sloping converging trendlines (yellow).

Timeline of Tron

Tron (TRX) has regained its footing after a decrease as a result of its USDD de-peg, but concerns about its viability still remain. The post Tron (TRX) Bounces by 45% After June 15 Lows appeared first on BeInCrypto.

For more than a year, the Tron (TRX) price bounded within a descending trendline pattern. Furthermore, on June 15th, the coin price rebounded from the $0.5 neckline and triggered a new bull cycle.

The total number of accounts on the Tron blockchain has hit a new milestone of 100 million. Tron is also celebrating its 4th Anniversary as an independent chain after migrating from Ethereum on June 25th, 2018.

USDD (CRYPTO: USDD), Tron's stablecoin, has failed to maintain its $1 peg for the past week, floating between 92 and 98 cents.  What Happened: USDD acts as an algorithmic stablecoin that in the past month has been collateralized with reserves worth $2.35 billion, constituting Bitcoin (CRYPTO: BTC), Tron (CRYPTO: TRX) and Tether (CRYPTO: USDT), holding a collateral ratio of 324.97%.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. While the crypto fear and greed index was hitting its record low, the market still exhibited an ‘extreme fear' sentiment.

Tron's USDD stablecoin hasn't managed to recover its dollar peg after a week of trading below the dollar level and still has to reclaim parity with the greenback as we can see further in our latest Tron news. Tron's USDD stablecoin traded under a dollar for a week now, after slipping below the dollar peg

Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the

Tron (TRX) has been decreasing since the end of May, having fallen by 35% so far. It is possible that the decrease is occurring as a result of the de-pegging of USDD The post Tron (TRX) Falls by More Than 35% After USDD De-Peg appeared first on BeInCrypto.

Tron [TRX] has made its way into the market's top-15 cryptos, with TRX ranked 13th on the charts. The altcoin managed to ward off market bears on 18 and 19 June, rallying by as much as 32% since its recent low on 15 June.

Last week's crypto crash took a significant toll on Tron's (TRX) price and plunged it to a low of $0.047. This downfall registered a 45.5% loss in just two weeks but failed to sustain below $0.057 support.