TRX Price Outlook: Potential Resistance Test as Bulls Regain Ground

TRON (TRX) is showing signs of a potential rebound despite a recent dip. According to CoinStats, TRX has declined by 1.52% over the past 24 hours, currently trading at $0.2711. However, technical indicators suggest a possible bullish scenario if buying pressure continues to build.

Following a false breakout near the local support level of $0.2676, TRX is attempting to recover. If bulls maintain momentum, a test of the next resistance level could occur as early as tomorrow. The price action on the daily chart reflects a rebound attempt after briefly breaching the previous bar's low. Despite this effort, the lack of strong volume indicates that the bullish momentum isn't fully confirmed yet.

Looking at the midterm trend, analysts suggest monitoring the weekly candle close, particularly around the $0.2742 level. A close near this threshold without a long upper wick could indicate buyer strength and open the door for a push toward the $0.29 resistance zone. However, given current market conditions and volume patterns, a sideways movement in a tight range between $0.27 and $0.2750 remains the most probable near-term scenario.

Market watchers are advised to stay cautious over the weekend, as overall sentiment leans toward a broader market dip. Still, TRX’s resilience near key levels suggests it may be better positioned than other altcoins to weather short-term volatility. The coming sessions will be crucial in determining whether bulls can sustain pressure and shift the trend upward.