- Tron price rebounds from a multi-day low, licking its wounds amid a two-month downtrend.
- Oversold stochastic, crypto market consolidation triggered TRX’s corrective bounce.
- A clear break below a triangle, key SMAs keep sellers optimistic of approaching horizontal support from April.
- Downside break of $0.2600 can challenge the broad bullish trend; TRX recovery looks elusive below $0.3400.
Tron (TRX) gains over 1.0% to $0.2965 early Friday in New York as it bounces off the lowest level since July 09 amid broad crypto market consolidation.
Alongside the market’s consolidation, oversold conditions of the stochastic momentum indicator also reinforce the TRX’s corrective bounce.
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However, the altcoin’s rebound lacks support from the trading volume, as well as joins the previous bearish breakdowns, to keep sellers hopeful.
That said, Tron’s daily trading volume retreats from a two-week high to $1.07 billion, even as the market capitalization (market cap) bounces off a 3.5-month low to $27.97 billion by press time, according to Santiment.
With this, the TRX sellers look set to approach a horizontal support from April, even as the broad bullish trend holds.
Tron Price: Daily Chart Favors Bears
Tron’s recovery from the lowest level since July 09 takes clues from the oversold stochastic conditions. However, last week’s downside break of a 2.5-month symmetrical triangle and the 200-day Simple Moving Average (SMA) keeps the bears optimistic.
This highlights the 200-day SMA and the said triangle’s bottom, respectively near $0.3040 and $0.3140, as immediate upside hurdles to watch during the quote’s further recovery.
Should Tron prices manage to remain firmer past $0.3140, the bearish bias weakens, allowing the quote to aim for the late October swing high of $0.3265 and the 100-day SMA hurdle of $0.3340.
However, a downward-sloping resistance line from April 14, forming part of the triangle near $0.3400, acts as the last line of defense for the TRX bears before giving control to the bulls and allowing them to aim for September’s peak of $0.3555 and the yearly high hit in August around $0.3710.
On the contrary, 50% and 61.8% Fibonacci retracements of Tron’s March-August upside, close to $0.2860 and $0.2660 in that order, could challenge the bears before the all-important horizontal support from April, close to $0.2600.
If TRX breaks the $0.2600 support, it becomes vulnerable to slump toward March’s low of $0.2106 and the yearly bottom surrounding $0.2010, closely followed by the $0.2000 psychological magnet.
Tron Price: Four-Hour Chart Suggests Consolidation
On the four-hour chart, Tron price rebounds from a three-week support line surrounding $0.2860 amid upbeat stochastic conditions.
This could allow the buyers to aim for the 61.8% Fibonacci retracement of its June-August upside, close to $0.3020.
Still, the 100-bar and the 200-bar SMAs, respectively near $0.3100 and $0.3225, could challenge the TRX bulls afterward, before highlighting the daily chart’s higher levels.
Alternatively, a downside break of the $0.2860 support, comprising the short-term descending trendline, could drag prices to the 78.6% Fibonacci retracement level of $0.2830 and then to the deeper levels discussed on the daily chart.
Conclusion
Overall, Tron’s latest rebound takes clues from the broad crypto market consolidation, oversold stochastic, and a short-term trend line support. However, a clear downside break of a multi-week symmetrical triangle and the key SMAs continue to direct prices toward a horizontal support from April, which in turn holds the key to reject the altcoin’s broad bullish trend.
Also read: Top 5 Altcoins to Watch in October 2025
