Tron ($TRX ) currently shows several bearish signals that may justify a cautious or bearish outlook:
$TRX is struggling to break above key resistance levels around $0.246 to $0.25, with the 200-day exponential moving average (EMA) acting as a strong resistance barrier that has halted upward momentum.
The price has been rejected multiple times near this resistance and is currently trading near a critical support zone around $0.243 to $0.247. Failure to hold this support could trigger further downside.
Technical analysis highlights a pattern of lower highs and lower lows, which is a classic bearish trend indicator in the short term.
The short-term bubble risk metric for $TRX has risen above 1.0, indicating increased speculative activity that often precedes market corrections or downturns.
Some forecasts predict a price decline to around $0.19 by late May 2025, reflecting a potential drop of nearly 23% from current levels.
On shorter timeframes, moving averages such as the 50-day MA are sloping downward, reinforcing the bearish momentum.
While some longer-term predictions remain optimistic, near-term price action suggests caution as sellers appear to have the upper hand and the market faces resistance and potential profit-taking.
In summary, Tron is currently facing significant resistance and bearish technical signals, with critical support levels under pressure. If it fails to hold support near $0.227, it could experience further declines in the short term. This justifies a bearish perspective until a clear breakout above resistance is confirmed.
