TRON Price Action Turns Uncertain as Spot Volume Flips Bearish
TRON Price Forecast – TRON (TRX) has attempted to break above the critical $0.274 resistance level twice in the past ten days but failed to hold those gains, with price retracing both times to support at $0.266. The current price action suggests indecision between bulls and bears, as the token consolidates near the top of a five-month trading range.
TRX Struggles to Maintain Bullish Momentum
The $0.274 range high has become a battleground, with neither side gaining full control. TRX’s range low sits at $0.22, and the mid-range level is around $0.2475. Back in late April, TRON experienced a similar consolidation at the mid-range before breaking out, while the same level acted as resistance in February.
Now, with TRX hovering near $0.27–$0.275, On-Balance Volume (OBV) has shown a gradual decline, mirroring price movement. The lack of OBV trend underscores weakening buying pressure. A sustained push above $0.274 supported by rising OBV could signal a stronger breakout.
Metrics Hint at Bearish Turn Unless Key Levels Break
Market data also shows a potential bearish shift. The Spot Taker Trading Volume metric—which tracks the cumulative difference between taker buy and sell volume—has flipped bearish, indicating a Taker Sell Dominant environment. While this metric was positive and growing through mid-May, it reversed over the last ten days.
Additionally, a 1-month liquidation heatmap points to key liquidity pools around $0.255 and $0.24, suggesting that prices may gravitate lower to trigger stop-losses and tap into demand. Conversely, the $0.282 level holds a significant concentration of short liquidations, which could attract upward price action if bulls regain momentum.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
