Tron (TRX) has been in somewhat of a slow downtrend for the past 2 months, throughout which it has continued to show bearish tendencies. Though yesterday was a great day for TRX, it certainly didn’t last long, as most of yesterday’s bullish growth was erased, seeing TRX collapsing back to $0.0235 again.

Looking at the big picture, Tron (TRX) has been trading sideways over the past 8 months, with the only major bullish move occurring in mid-December 2018. After a month of bullish momentum, Tron failed to see any sort of continuation and has since been on a slow downtrend, falling from a high of around $0.031 down to its current $0.0233.

The chart above indicates that Tron may be forming a parallel channel, although this is non-perfect. Yesterday TRX was just inches away from breaking the channel, but couldn’t generate the momentum for a follow through, resulting in a large sell-off today.

We are probably going to see the same trend for the next few weeks, considering the market as a whole has been quite stable. That being said, there remains a great deal of optimism behind Tron, and the last Dapp weekly report came out very positive for the blockchain.

From early March, #TRON has been on the way to overtake #EOS and #ETH in #Dapp trading volume. As of now, TRON's Dapp trading volume stands at the top among all public chains. #TRX $TRX https://t.co/T5iAukf73h — TRON Foundation (@Tronfoundation) March 22, 2019

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