TRX Price Slides Below Critical Trend Levels
TRON (TRX) is trading around $0.295, slipping 0.9% over the past 24 hours as the broader crypto market faces intense selling pressure. The drop has pushed the asset below key moving averages that previously supported its bullish trend. TRX now sits under both its 30-day SMA at $0.3 and the 200-day EMA at $0.3, indicating that momentum has weakened and sellers currently dominate the market structure.
Trading volume surged more than 73%, reaching $1.32 billion, suggesting that the decline was driven by heavy participation rather than low-liquidity volatility.
Explaining the Current Chart
The TradingView chart shows TRX gradually losing momentum throughout the session before stabilizing near the $0.295 region. RSI14 is currently 66.24, with the signal line at 66.9, showing mild overextension during intraday recoveries but failing to break decisively higher. This dynamic aligns with the broader market rejection, where every short-term bounce quickly encounters resistance.
The MACD lines remain slightly positive at 0.001, but the histogram is showing fading bullish momentum. This suggests that although buyers attempted a recovery, the underlying trend has not shifted enough to confirm a reversal.
Key Resistance and Support Levels
The most important barrier is now the $0.3–$0.305 zone. This level combines the 23.6% Fibonacci retracement with the 30-day SMA, creating a strong technical wall. TRX must break above this region to regain bullish structure; otherwise, the market is likely to face additional downside.
If the recovery fails, the next major target lies at the 78.6% Fibonacci retracement at $0.287, a level that previously acted as a high-volume demand area.
What Happens Next for TRON?
Market sentiment remains cautious as traders reassess risk exposure following the latest market-wide downturn. If Bitcoin continues to struggle near its support zones, altcoins like TRX may extend their decline. However, reclaiming the $0.30 level could invalidate the bearish breakdown and set up a recovery toward $0.312–$0.318.
For now, TRX remains in a fragile position, and price action over the next 24–48 hours will be critical in determining its short-term direction.