SEC Accuses TRON Founder Sun, TRX Price Bears Brunt

SEC accuses TRON founder Sun that TRX price bears brunt. In a recent development, the United States Securities and Exchange Commission (SEC) filed new court documents against Justin Sun, founder of TRON blockchain, focusing on allegations surrounding TRON’s native token, TRX.

CRYPTO BREAKING NEWS
SEC Vs Justin Sun Case Update: Regulator Provides Additional Information In Lawsuit Against Tron Founder. The United States Securities and Exchange Commission (SEC) has filed new court documents in its ongoing lawsuit against Justin Sun, the founder of…… pic.twitter.com/HKlJeo8juj

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The SEC accuses Sun of orchestrating unregistered TRX offers, manipulative trading, and promoting TRX as a security. Allegedly, Sun conducted public TRX offers without adhering to regulations and directed manipulative wash trading to sustain TRX prices.

These allegations, if upheld, could spell trouble for TRON’s regulatory status and its market performance. This news has stirred concerns among investors, potentially leading to a bearish move for TRX prices.

Key TRON Levels To Watch – April 21

The MA Cross currently shows that the market is in a downward trend. TRXUSD has attempted to breach the $0.11030 support, implying the presence of bears in the market.
 
However, the Stochastic Oscillator indicates that a short-term pullback is probable as the market becomes oversold. From the 79% Fibonacci retracement level, the downward trend is likely to resume.

TRON Key Levels

Resistance Levels: $0.12430, $0.13400, $0.14520 
Support Levels: $0.11030, $0.09560, $0.08460

TRX Metrics

Total Market Capitalization: $2.40T
TRON Market Capitalization: $9.71B
TRON Volume: $227M
Market Rank: #15

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