Usman Salis
TRON (TRX) finds itself at a critical juncture as the price slides toward key support levels. With technical indicators flashing warning signals and traders divided on the next move, the cryptocurrency faces a make-or-break moment that could determine its short-term trajectory.
TRX Price Pulls Back Toward Key Support
TRON has dropped to $0.3323, dangerously close to the $0.3350 support zone that's proven crucial on the 4-hour timeframe. This level has become the last line of defense for bulls trying to prevent further downside momentum.
Famous trader noted that current oversold conditions could spark a relief rally from these levels.
However, he cautioned that losing this support might trigger a swift decline toward $0.3200, where stronger buying interest typically emerges.
Bulls Face Uphill Battle at $0.3700 Resistance
Even if buyers manage to defend current support, TRX faces significant headwinds at $0.3700. This resistance zone has consistently rejected bullish attempts over recent weeks, creating a formidable barrier for any recovery attempt.
Breaking above this level would be game-changing, potentially opening the path toward $0.3850–$0.3900. Until then, sellers maintain the upper hand, with immediate downside targets at $0.3300 and deeper support around $0.3200.
Critical Moment Approaches as RSI Signals Oversold
The RSI has dipped into oversold territory, typically a sign that selling pressure might be reaching exhaustion. This technical divergence could provide the catalyst bulls need for a counter-attack from current levels.
The next few hours will be telling. If $0.3350 holds firm, expect a bounce toward $0.3700. But if this support crumbles, bears could drive prices significantly lower, making $0.3200 the next major test for TRON's resilience.
Usman Salis
