TRON Drops Following the Collapse of the U.S. Major Banks

The price of TRON dramatically dropped once the news broke about the failure of the two major U.S. banks. This crash was brought on by a general lack of liquidity in the cryptocurrency market, as most investors preferred to wait it out before investing.

Silvergate and Silicon Valley Bank are two significant financial institutions that are also very important to the cryptocurrency sector. The fallout from the collapse, meanwhile, was short-lived because TRX recently had a sharp increase. TRON’s price is currently almost back to its response level following the news. In the past 24 hours, TRXUSD has grown by 2.67%.

Key TRON Levels To Watch – March 17

The price of TRON has been ascending along with a rising trendline since November 2022. The second bounce of price off the trendline caused more bulls to storm the market as it confluences with the $0.04970 support.

On February 20, 2022, the price created a swing high below the $0.07320 resistance. The selling pressure at the resistance crashed TRXUSD downward until the rising trendline was hit. The third bounce off the trendline led to a massive expansion as the market left the oversold region.

TRON Key Levels

Resistance Levels: $0.13140, $0.09230, $0.07320
Support Levels: $0.6550, $0.04970, $0.04530

Total Market Capitalization: $1.13T
TRON Market Capitalization: $6.03B
TRON Volume: $0.29B
Market Rank: #14

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