“`html
- TRON’s so-called “momentum” was about as strong as a wet noodle, failing to break through anything but our patience.
- The resistance and liquidation levels conspired like a pair of mischievous imps, hinting at a bearish reversal for TRX.
Ah, TRON [TRX], the cryptocurrency that couldn’t quite decide if it wanted to be a hero or a zero. At press time, it was lounging at $0.232, having bounced back from the weekend’s nosedive like a cat that just realized it hates water. Yet, despite its valiant efforts, TRON remained stubbornly below the $0.25 resistance, as if taunting its investors with a sly wink.
Meanwhile, Bitcoin [BTC] was loitering around the $83k mark, showing all the bullish intent of a sloth on a Sunday afternoon. This lackluster performance from the king of crypto didn’t exactly inspire confidence in TRON’s market outlook. Technical analysis suggested that traders might want to sell TRX if it dared to retest the overhead resistance—because, well, why not?
TRON’s Range: The Bulls’ Eternal Struggle 🐂💔
TRON has been meandering within a range of $0.2745 to $0.22 (purple), with $0.248 playing the role of the mid-range level—a level so resistant it could give a mule lessons in stubbornness. Over the past six weeks, this mid-range level has consistently thwarted TRON’s attempts to break through, sending prices tumbling back to the range low like a yo-yo on a string.
On the 16th of March, TRX dipped below the range low, but the bulls, ever the optimists, initiated a recovery, pushing the price up by over 10% in the past three days. However, the OBV (On-Balance Volume) refused to surpass a local high, signaling a lack of significant bullish dominance—because, of course, it did.
At the time of writing, the RSI was at 50, suggesting a potential momentum shift. But let’s be honest, similar shifts have been observed in the past two months without leading to a breakout beyond the mid-range level. It’s like watching a soap opera where nothing ever changes.
The 1-month liquidation heatmap outlined the $0.25 region as a magnetic zone—because who doesn’t love a good magnet? The recent price bounce meant that a move higher to the mid-range, and the liquidation levels, lined up perfectly, like a cosmic joke waiting to happen.
The cluster of liquidity just above the mid-range level could attract TRON higher before a bearish reversal—because why not add a little drama to the mix?
Hence, traders can expect TRON to flirt with the $0.25 level before a bearish reversal. Traders can use this retest to sell or go short, but it’s a bit late to try to buy TRON hoping for more gains. After all, hope is a dangerous thing, especially in the world of crypto. 🚀📉
“`
Read More
- Invincible Season 4: What We Know About Release Date and Plot Speculation!
- MNT PREDICTION. MNT cryptocurrency
- KAS PREDICTION. KAS cryptocurrency
- EUR JPY PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- ATOM PREDICTION. ATOM cryptocurrency
- Biden’s SEC to DeFi Founders: You’re Banned from Crypto—For Life!
- ONT PREDICTION. ONT cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
2025-03-19 16:10