Saad Ullah
TRON (TRX) keeps hanging tough in its trading range while the rest of the crypto market gets hammered. The token's only down 2.87% compared to much bigger losses across major cryptocurrencies.
Why TRON (TRX) Is Holding Up Better Than Everyone Else Right Now
Look, the crypto market's been getting absolutely wrecked lately. All this mess with tensions heating up in the Middle East and the U.S. potentially getting involved has basically killed any bullish vibes investors had. People are freaking out about oil prices going through the roof and inflation making a comeback – you know, the usual stuff that makes everyone nervous.
But here's the thing that's pretty interesting: while Bitcoin (BTC) dropped 3.68% in the last 24 hours, TRON only fell 2.87%. That might not sound like a huge difference, but when you compare it to what happened to Ethereum (ETH) and Solana (SOL) – they got crushed by 9.22% and 7.5% respectively – TRX actually looks pretty solid.
The reason TRON's not getting beaten up as badly comes down to correlation. The data shows TRX only has a +0.32 correlation with Bitcoin, which basically means it doesn't always follow what Bitcoin does. That's actually been working in TRON's favor during this rough patch.
Everyone's worried about the same things right now – rising oil costs, inflation coming back to bite us, and just general uncertainty about what's happening globally. These kinds of worries usually send crypto markets into a tailspin, but TRON's managing to stay relatively calm in the storm.
TRON (TRX) Technical Picture: Range-Bound but Under Pressure
Alright, let's talk charts. TRON's been stuck in this trading range for about six weeks now, bouncing between $0.263 on the low end and $0.294 up top. Right now, it's heading back down toward that lower boundary, and that's got traders paying attention.
The bulls tried to make a move on June 17th but got shut down at the mid-range resistance of $0.279. For a while there, the price was clinging to that 61.8% Fibonacci level at $0.27 (calculated from that nice run TRON had from $0.16 to $0.45 back in November-December 2024), but eventually had to give it up.
The technical indicators are telling a pretty clear story right now. The On-Balance Volume (OBV) shows buyers and sellers are basically in a standoff – nobody's really winning this battle over the past month. Meanwhile, the RSI just dipped below 50, which usually means momentum's starting to shift toward the bears. Not exactly what TRON bulls want to see.
What Happens Next for TRON (TRX) – Key Levels to Watch
Here's where things get really interesting. The liquidation heatmap shows that magnetic zone around $0.264 already got hit, but we could see TRON test $0.261 next. That's basically where the rubber meets the road – either we see buyers step up for a bounce, or things could get uglier.
Even though TRON doesn't move in lockstep with Bitcoin, let's be real here – if the broader crypto market keeps getting hammered, TRX probably isn't going to escape unscathed. So if you're thinking about jumping into a long position, you better be ready for some serious volatility.
If TRON can't hold above $0.261, the next stop could be $0.24. That's a pretty significant support level where we'd likely see a bunch of liquidations pile up. Breaking below there would basically mean this whole range setup is done for.
But here's the flip side – TRON's actually shown some real strength during this latest selloff. The fact that it's only down 2.87% while everything else is getting demolished suggests there might be some solid support underneath. Maybe the holders aren't panicking as much as we're seeing with other coins.
The next few days are going to be crucial for figuring out which way this goes. You've got all this geopolitical drama, economic uncertainty, and technical pressure all coming together at once. It's not exactly the best recipe for risk assets like crypto.
Bottom line: keep your eyes on that $0.263-$0.261 zone. If TRON can hold there, we might see a bounce back toward $0.279. If it breaks, $0.24 is probably where the next battle gets fought. Either way, it's going to be an interesting ride.
Saad Ullah
