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Bullish sentiment for TRX rises as the TRON Foundation challenges the SEC lawsuit. The TRON Foundation, overseeing the TRON network, moves to dismiss a lawsuit by the US Securities and Exchange Commission (SEC), asserting overreach of the regulator’s global authority. TRON defends its TRX token sales, arguing they were conducted solely overseas without US involvement.
TRON seeks dismissal of SEC suit, claims regulatory overreach beyond US bordershttps://t.co/2VaaVVP1QQ
— John Morgan (@johnmorganFL) April 1, 2024
The foundation refutes SEC claims of unregistered securities offerings, emphasizing its global platform targeting foreign users. With TRON headquartered in Singapore and lacking a US presence, the foundation challenges the SEC’s jurisdictional claims, citing the Morrison v. National Australia Bank Ltd. case. TRON anticipates bullish sentiment amid the legal defense, signaling confidence in its position and the potential for growth in TRX value.
Key TRX Levels To Watch – April 1
The market was clearly in an upward trend until a major pullback throughout last month. According to the MA Cross, a resumption of the uptrend is highly probable as the Moving Averages contract.
The resumption of the bullish trend is currently looming as the histogram rises above the zero line. Following the liquidity grab at the STL (Short-Term Low) of $0.11460, TRXUSD is likely to resume the bullish trend.
TRON Key Levels
Resistance Levels: $0.11030, $0.10050, $0.09560
Support Levels: $0.12400, $0.13400, $0.14520
TRX Metrics
Total Market Capitalization: $2.63T
TRON Market Capitalization: $10.7B
TRON Volume: $268M
Market Rank: #16
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