TRON (TRX) Remains Controversial as the U.S. SEC Files a Lawsuit Against Sun

TRON has recently drawn everyone’s attention due to the huge news releases that have had an impact on TRON. Justin Sun founded TRON, a decentralized blockchain platform, to facilitate the ease and possibility of exchanging digital contents within the ecosystem. It is hardly surprising that TRX has seen a long-term increase in value.

However, it won’t be shocking if the trend were to abruptly change and go downhill. This is because TRX, a native token on the blockchain, has just received news that has been detrimental to its growth. One of these stories is the return of over $56 million to Binance following a dispute between the CEOs of TRON and Binance. It’s also important to note that Sun, the CEO of TRON, has been sued by the U.S. Securities and Exchange Commission (SEC).

Key TRON Levels To Watch – May 15

TRXUSD is in its fifth impulse wave as buying momentum decreases. The overall trend has begun since the price’s rejection at $0.0450. Following the rejection, a rising trendline emerged alongside the motive trend. The price continued upward until the third impulse ended at $0.07320.

The $0.073200 price level is currently the year’s high, as it has remained unattainable since the year 2023 began. According to the RSI (Relative Strength Index), TRXUSD is going into an extremely oversold state. thereby indicating a high probability of the bulls storming the market soon.

TRON Key Levels

Resistance Levels: $0.6550, $0.07320, $0.09230
Support Levels: $0.05440, $0.04970, $0.04530

Total Market Capitalization: $1.13T
TRON Market Capitalization: $6.27B
TRON Volume: $0.15B
Market Rank: #12

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