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TRX may form local bottom as price drops 43%

Following Christmas, the cryptocurrency market, including TRX, faced substantial losses, with TRX dropping over 43% from its all-time HIGH of $0.43 to $0.25.

CryptoQuant’s analysis identifies a key support near $0.23 for TRX, suggesting a potential bottom. Historical trends show the green trend line often acts as robust support, hinting at a possible price rebound above this level.

Justin Sun’s efforts, including WLFI token acquisitions and participation in art auctions, have spurred interest in TRX. Speculation of Grayscale listing also heightened market interest, indicating potential positive momentum for TRX despite recent declines.

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