Usman Salis
TRON has been facing some pressure lately, pulling back from recent highs as the broader crypto market experiences increased volatility. With TRX now sitting at a crucial juncture between major support and resistance levels, traders are keeping a close eye on how the price reacts to these key zones in the coming sessions.
TRX Price Pulls Back Toward Critical Levels
TRON has been showing some weakness on the 4-hour chart, dropping to $0.3433 after struggling to break above key resistance areas. This pullback is happening alongside increased volatility across the crypto space, and traders are now watching the next important price levels closely.
Market analyst @blockchainballer pointed out that TRX is stuck between two crucial zones: support at $0.3300 and resistance at $0.3700. How the price behaves around these levels will likely determine where TRX heads next - a break above resistance could spark a recovery, while dropping below support might lead to further losses.
TRX Price Indicators Signal Possible Oversold Conditions
The technical setup suggests the selling pressure might be running out of steam. The RSI indicator on the 4-hour chart is getting close to oversold levels, which often means the price has fallen too far too fast.
If buyers step back in, the first target to watch is around $0.3550, with the main resistance at $0.3700 after that. Breaking cleanly above $0.3700 would be a game-changer, potentially flipping market sentiment and opening the door for more gains.
The big level for bulls to protect is that $0.3300 support zone. As long as TRX stays above this area, there's still hope for a bounce back. But if it breaks below, we could see the price slide toward even lower levels.
Even with this short-term weakness, TRON's fundamentals remain solid thanks to its expanding ecosystem and network activity. For traders, it's pretty straightforward: watch $0.3300 for support and $0.3700 for the breakout signal.
Usman Salis
