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Tron Forecast – Is your own stablecoin digging your own grave?

 


The Tron price has been feeling extreme selling pressure for three days. This can be determined by the volume. This has had an extreme increase in the last few days. The reason for this was probably the sell-off of the USDD tokens. The USDD stablecoin has dropped to around $0.97, which does not make Tron investors feel good as it could end up like Terra Luna. Finally, the USDD stablecoin is constructed in the same way as the Terra Luna (UST) stablecoin.

Yesterday Tron price managed to break the support around $0.059 which is downright bearish . However, support remains just below the $0.059 support. This is at $0.0468. The course found enough buyers there today so that the support could hold. As long as this support holds, we see no reason to panic. However, things are looking rather bad in the medium term. The price is very likely to break the $0.0468 support sooner or later.

If the $0.0468 support breaks, there is a strong chance that Tron price will test the next support. This sits at around $0.0325. That's where we would start the end of the downward movement for the time being. One must, however, consider Tron’s USDD stablecoin. If it continues to fall and is not consistently worth $1, trust in Project Tron would be lost. If that happens, we expect prices to be much lower than $0.0325. Prices below $0.01 would then be conceivable.

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