TRON (TRX) Faces Pressure, Possible Downtrend Ahead
Key Takeaways
- TRON (TRX) is showing signs of a potential downward trend reversal.
- Resistance at USD 0.274 remains fiercely contested.
- Technical indicators such as trading volume and liquidity levels suggest weakness.
- Traders should exercise caution with long positions above USD 0.28.
TRX Retests the USD 0.274 Area
TRON (TRX) has closed above the USD 0.274 price level twice in the past ten days. Both times, it fell back to the support at USD 0.266. This level marks the upper boundary of a trading range that has persisted for five months. Neither bulls nor bears have been able to gain a clear upper hand so far.
Weak Buying Interest Despite Resistance Test
Although TRX tested the resistance at USD 0.274, buying interest remained subdued. The On-Balance Volume (OBV), an indicator that measures the volume balance between buying and selling, has shown no clear direction for weeks. This suggests a consolidation phase without a definitive trend.
Spot Market Data Indicates Selling Pressure
Data from the CryptoQuant platform shows that spot taker trading volume has entered a “taker sell dominant” phase. This means that there are more sell orders than buy orders on the spot market. This ratio has shifted significantly over the past ten days — a sign of increasing selling pressure.
Liquidity Zones Could Influence Price Movements
According to data from Coinglass, there is a high concentration of liquidity clusters in the USD 0.255 to 0.24 range. These zones often attract price movement, as many stop-loss orders and liquidations are located there. At the same time, there is a zone of many short liquidations at USD 0.282 — a potential target for short-term price surges.
What Traders Should Watch For
Currently, TRX is moving within a narrow range between USD 0.266 and USD 0.274. A clear breakout above USD 0.274 accompanied by rising volume would be a bullish signal. However, if the breakout fails, the likelihood of a correction toward USD 0.255 or even USD 0.24 increases.
If you are actively trading, be cautious with long positions above USD 0.28. Likewise, going short at USD 0.255 is risky, as many liquidations may be triggered in that area.
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Our Assessment
TRON is currently at a critical juncture. Technical indicators point more toward an impending correction than a sustained upward movement. In particular, the weak buying volume and the dominance of selling pressure in the spot market are warning signs. Traders should remain patient and wait for a clear signal — either through a breakout with volume or a retracement into lower support zones.
The current market situation calls for solid risk management and disciplined trading. If you’re uncertain, it’s better to wait until a clear trend emerges.
Sources
- TradingView
- CryptoQuant
- Coinglass
| Symbol | TRX |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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