TRON PRICE ANALYSIS & PREDICTION (February 24) – TRX Signals Buy But Volatility Appears Low, Can It Resume Bullish?
As many larger cap altcoins have taken a new downturn over the past few days to signal another bearish phase, TRX remains indecisive and continues to trade flat on the daily timeframe.
Tron’s native token has been on a trail to resume bullish for some weeks but it seems weak as all attempts to climb back prove abortive.
The $0.25 level has been a tough obstacle for the crypto in the past three weeks, although trading volatility is currently low due to a lack of interest. An increase above this level could put the bulls on track as they will likely face more hurdles before regaining full market control.
As of now, there’s no signal for a buy as the bulls are yet to show strong commitment. If they fail, the market may remain calm and continue to trade sideways daily. On the other hand, we may see a downward play if the bears take advantage. That could bring us back to the monthly low before deciding on the next direction.
Whichever way, the general market is still under the bulls’ radar from a long-term perspective. It must retake the $0.45 resistance before we can confirm a continuation. While it has posted massive gains in the past year, it may end the bull season if the price dips below $0.15.
TRX’s Key Level to Watch
If TRX manages to surpass the $0.25 resistance, the next target level for a surge would be $0.275 and potentially $0.31. Flipping through these levels could bring a fast recovery to $0.37 and $0.4.
Currently, the bears are off the market. If they step back with pressure, the closest support level to watch for a test is $0.217. A break below $0.2 could slide the price to $0.186. Below it lies $0.165.
Key Resistance Levels: $0.275, $0.31, $0.37
Key Support Levels: $0.217, $0.186, $0.165
- Spot Price: $0.245
- Trend: Bullish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.
