TRON Continues to Trade in a Range Despite the Wave of FUD in the General Market
The range bottom could lead to a bullish reversal, but investors should watch for price volatility
TRON [TRX] price has not been as severely affected as most other altcoins in the recent price drop. Escalating tensions in the Middle East and US intervention have dampened growth expectations in the crypto market.
Concerns about rising oil prices and rising inflation are just some of the fears investors have right now.
Source: IntoTheBlock
Over the past 24 hours, Bitcoin [BTC] has lost 3.68% of its value, while TRON has only lost 2.87%.
Compared to Ethereum [ETH] and Solana [SOL], their declines were 9.22% and 7.5% respectively. The correlation matrix shows that TRX has a coefficient of only +0.32 with Bitcoin, which helps explain TRX's relative stability in this volatile market.
Will TRX Continue to Maintain Stability on the Price Chart?
Source: TRX/USDT on TradingView
On the 1-day chart, TRX is forming a range (white) between $0.263 and $0.294. Over the past 6 weeks, TRX has been trading within this range, now the price is moving towards the bottom of the range again.
The mid-level resistance at $0.279 rejected the bulls on June 17. Although the price held the 61.8% Fibonacci retracement level at $0.27, it could not sustain it for long. The Fib levels are based on the rally from $0.16 to $0.45 in November-December 2025.
The OBV indicator shows a balance between buyers and sellers over the past month. Meanwhile, the RSI dropped below the neutral level of 50, signaling that price momentum is tilted to the downside.
Source: Coinglass
The 1-month liquidation heat map clearly reflects the current price zone of TRX. The zone from $0.264 has been cleared, but the price could drop slightly to $0.261 before potentially reversing to the upside again.
Although TRX does not have a high correlation with BTC, the possibility of an upcoming general downtrend in the cryptocurrency market is high. Therefore, swing traders need to be cautious of volatility if they want to catch the TRX bottom.
If the $0.261 mark is broken, the next support zone at $0.24 will be a major liquidation area, which could drag the TRX price down further.
Source: https://tintucbitcoin.com/tron-bulls-giu-ho-tro-bat-tang/
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