TRX Price Analysis: Fallout of $0.075 Support Hints 18% Drop in TRX

The failed attempt from the TRON (TRX) buyers to escape the range-bound rally indicates a potential downfall to the $0.057 mark. The $0.075 fallout brings a short opportunity for interested traders to take an 18% target.

Timeline of Tron

The TRON DAO Reserve increased the supply of USDC stalecoin by $260 million on the TRON network. The new addition takes total circulating supply of Tron's USDC stablecoin supply to $1.241 billion.

Launched in 2018, GEM-TRX, as the name suggests, is a cloud mining service built on the Tron network. It provides users with a safe, convenient, and efficient TRX cloud mining experience.

With Bitcoin losing $30000 support and a massive collapse in LUNA and UST stablecoin price, the crypto market has witnessed outraged selling over the past week. However, battling the broader market sentiment, TRON(TRX) price went through a volatile phase to prevent some major losses.

Amid the current market dump, every cryptocurrency is trying to hold its fort. In this bid, many crypto leaders are moving the funds to ensure the stability of their network's tokens.

Tron Founder Justin Sun said he will deploy a $2 billion reserve to protect TRX against heightened short interest. As the Cryptocurrency bloodbath intensifies many crypto leaders are announcing plans and strategies to counter it.

Tron has been defying the crypto crash as of late while the prices of the biggest cryptocurrencies keep on faltering so let's see how that is the case in today's latest Tron news. When the price of BTC dropped from $40,000 to $30,000 in a week, every other coin entered the bloodbath as well.

If the crypto market was looking a little red before, at press time it was closer to the blood-gushing elevator scene from The Shining. With Bitcoin trading at $31,720.36 and Ether changing hands at $2,368.71 it's natural that both Bitcoin and altcoin holders are panicking at the moment.

504,600,250 TRX tokens were purchased at an average rate of $0.07727 to bolster the USDD stablecoin reserves.  Tokens Bought To Bolster Reserves The team at Tron DAO, which is the world's largest decentralized autonomous organization, announced the almost $39 million purchase of TRXs to bolster its USDD stablecoin reserves as directed by the founder Justin Sun to back the stablecoin with $10 billion worth of digital assets.

Tron's native cryptocurrency TRX delivered an impressive weekly rally despite the market wide sell-off that has taken place in the last 4 days. However, it looks like TRX might be about to give into the selling pressure given the strong pullback it registered in the last 24 hours.

The Tron DAO reserves bought $38 million in TRX to protect the USDD stablecoin after it recently went live and got listed on a number of decentralized finance protocols so let's read more today in our latest Tron news. The Tron DAO reserves bought about $38 million in TRX to back the algorithmic stablecoin as