Key Takeaways
What is the TRON price prediction?
In the coming days, the current bearish trajectory is expected to continue, taking TRX down to $0.272 and even as deep as $0.245.
Does the higher timeframe bias also show bearishness?
The TRON downtrend since mid-August was part of a high timeframe retracement phase, which meant that a bullish recovery from the key Fibonacci retracement levels is still possible.
TRON [TRX] was in the midst of a steep retracement. The recent Bitcoin [BTC] correction affected the wider altcoin market severely, including TRON.
After reaching a high of $0.2961 on the 3rd of November, TRX fell 6.6% to a swing low of $0.276.
A recent AMBCrypto report highlighted how a climbing reserve-to-borrow ratio could be the early phase of a new TRX rally. The market-wide fear made such a recovery harder, but it is not impossible.
TRON price prediction bearish as retracement continues
Source: TRX/USDT on TradingView
The 1-day chart showed that a nuanced outlook is necessary for TRON. The most obvious signs were bearish. The 1-day chart has a bearish structure after it broke beneath the $0.3 swing low from early October.
The OBV was falling lower to signal heavy selling pressure at press time. The DMI showed a strong downtrend in progress, with the -DI (red) and ADX (yellow) both moving above 20.
This meant that TRX was likely to trend lower to the next support zone at $0.264-$0.269.
Looking past the obvious signs, we can recognize that TRX is moving within a longer-term uptrend. The most recent high timeframe swing move higher began in March and ended in mid-August at a high of $0.37.
The Fibonacci retracement levels plotted based on this move showed that the next key support levels were at $0.2717 and $0.245, which were the 61.8% and 78.6% retracement levels.
Therefore, given the current downtrend, TRX is expected to drop to these levels.
Source: TRX/USDT on TradingView
Based on the 4-hour chart, key entry zones for swing traders have been identified. The $0.29 area (white box) represents an imbalance on the H4 timeframe, while the $0.296–$0.298 range (cyan box) marks an order block.
A retest of these zones could trigger a bearish reaction. If sellers dominate, TRX may reverse after reaching just $0.288–$0.29. However, if buyers gain momentum, the price could rise to $0.298 to tap into overhead liquidity.
Traders aiming to short should be prepared for both outcomes. This setup becomes invalid if TRX breaks above the $0.30 level.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
