TRON (TRX) Traders Eye $0.34 Breakout — Which Side Will Win?
TRON’s TRX has been trading in a narrow range, with recent daily closes hovering around the $0.34 mark.
The market currently shows signs of indecision, as both buyers and sellers are testing important short-term levels. With momentum indicators reflecting a cautious stance and the order book revealing heavy liquidity clusters, the next move could be defined by how the price reacts to nearby support and resistance levels.
TRX Trend and Momentum Outlook
The exponential moving averages suggest that TRX is hovering in a neutral-to-bearish phase. The short-term EMA is flattening out against the longer-term trend, which means that bullish conviction is fading.
Daily chart for TRX/USD (Source: GeckoTerminal)
Momentum remains weak, as the MACD histogram continues to print negative values, highlighting that buyers have not been able to generate sustained upside pressure. The RSI’s placement in the mid-40s also reflects a market struggling for direction, neither oversold nor strong enough to confirm bullish momentum.
Key Levels to Watch
Resistance is clearly stacked above at $0.3621, $0.3667, and the more distant $0.4334, which marks a larger breakout zone if bulls regain control.
On the downside, the most immediate supports lie at $0.3221, $0.3095, and the major floor at $0.2697. Losing these levels could invite heavier selling pressure, while a strong defense could provide springboards for renewed rallies.
Order Book Dynamics
The order book shows several critical liquidity walls that could dictate short-term price movements.
On the bid side, there are strong buy walls at $0.34010, $0.34000, and $0.33990, collectively representing over 1.4 million TRX at each level. If these walls were to collapse, TRX could quickly slide lower, with incremental drops of 0.12%–0.18% estimated on each break.
On the ask side, immediate overhead pressure sits at $0.34060, where over 1.5 million units are positioned. Clearing this could open the way for a minor uptick toward resistance. The more notable ask walls, however, sit higher at $0.37000 and $0.40000, with potential price jumps of 8.66% and 17.47% respectively if bulls push through those barriers.
Trading Strategy Outlook
For long traders, a break above $0.34060 with sustained momentum could offer a cautious entry, aiming toward $0.3621 and beyond. However, failure to clear the heavy sell wall could see longs trapped if the market turns down.
Short traders may find opportunities if the $0.34000 bid wall is breached, with downside targets toward $0.3221. Both strategies carry risk, as liquidity clusters make whipsaws more likely, so tight risk management is crucial.
At this stage, TRX is locked in a battle of liquidity, with momentum indicators showing hesitation. The market’s next decisive move will likely come from which side — buyers defending $0.34 or sellers pressing resistance — breaks first.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
