TRON Price Prediction: Watch for Shifts in Momentum

Summary:
On December 14, TRON displayed resilience by increasing by 4.5%, contrasting with Bitcoin's decline of 3.2%. Following a partnership announcement with Revolut, a major fintech company, interest in TRON has surged. This article delves into price predictions and the current market structure for TRON (TRX), highlighting a bear trend that may present new trading opportunities.

Key Takeaways

TRON (TRX) showed strong performance, gaining 4.5% amid Bitcoin's losses.
A partnership with Revolut signals increased confidence in the TRON network.
Current bearish trends are indicated on both weekly and daily charts.
Resistance levels are identified, with potential trading opportunities around $0.283-$0.286.
Traders should prepare for possible drawdowns in TRX prices.

TRON price prediction: Traders, brace for a momentum shift

Analyzing TRON's Price Movement

TRON 1-week Chart

Source: TRX/USDT on TradingView

TRX remains in a bearish pattern on the weekly chart, highlighted by a breakdown of the higher low (orange) at $0.3 established in September. A key support level may be found at another weekly low of $0.259 if a retest occurs. The bearish momentum is gaining strength, as indicated by the MACD, which has shown a bearish crossover since September. This has brought the MACD line below zero—a move that suggests a sustained downtrend may be imminent.

Conversely, the Chaikin Money Flow (CMF) stays above +0.05, indicating significant capital inflows and buying pressure. Combining these indicators leads to the conclusion that, while the weekly chart shows bearish tendencies, there is still robust buying interest.

TRON 4-hour Chart

Source: TRX/USDT on TradingView

The shorter-term 4-hour chart similarly reflects a bearish structure. For a bullish reversal to occur, TRX must climb above the $0.282 threshold, which has yet to happen. Recent data shows that the CMF suggests increased buying pressure in the last 24 hours, while the MACD indicates a rise in upward momentum.

Potential Bull Trap

Despite the recent rally and resilience compared to Bitcoin, TRX's overall structure is still bearish across weekly, daily, and 4-hour charts. Prices may aim for Fibonacci retracement levels around $0.283 and $0.286; however, such movements are forecasted to be temporary and might quickly retrace.

Anticipating TRON Drawdown

A rebound to the $0.283-$0.286 range might create a selling opportunity for traders. The region leading up to $0.29 serves as a notable supply zone. Should buying pressure enable TRX to surpass $0.29, the current bearish outlook would be called into question. Conversely, swing traders may consider targeting local lows of $0.27 and $0.259 for profit-taking.

Final Thoughts

Disclaimer: The information provided does not serve as financial, investment, trading, or other advice and is based solely on the author's perspective.