Resistance

TRON

Reversal

<ul class="list-ic vertical">
 <li><span>1</span> <a>The TRON price noted a change in the direction and dropped over 10% this week.</a></li>
 <li><span>2</span> <a>Investors are making profit booking at highs, leading to a retracement.</a></li>
</ul>
<p>The TRON price started draining gains and is witnessing a retracement move on the charts. Amidst the uptrend and the bullishness, the TRX price noted profit booking and has slipped below the 50-day EMA mark. In the previous session, crypto leaders, BTC and ETH, and most altcoins revealed a sudden drop. However, the trend is intact, and these dips must be considered a buying opportunity.</p>
<p>At press time, the TRON coin (TRX) price was trading at $0.1258 with an intraday drop of 3.33%, indicating profit booking in the overnight session. It has a monthly return ratio of 1.80% and 94.00% on a yearly basis. The pair of TRX/BTC is at 0.00000187 BTC, and the market cap is $11.26 Billion. Analysts are neutral and suggest the TRX coin price may face further decline and will retest the round mark of $0.1000 soon.</p>
<h2 class="wp-block-heading" id="strong-tron-indicates-a-reversal-is-it-a-trap-or-a-price-correction-strong"><strong>TRON Indicates a Reversal; Is It a Trap or a Price Correction?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (TRX), Volume (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-15T18%3A29%3A59.189Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%232e934a%3B%231b2f87&amp;ws=%7B%22node%22%3A%22area%22%2C%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>The <a href="https://www.thecoinrepublic.com/2022/04/29/trx-price-analysis-tron-coin-price-action-knocks-the-ball-out-of-the-park/" target="_blank" rel="noopener noreferrer nofollow">Tron coin</a> (TRX) witnessed a decline with a drop in trading volume, signifying the profit booking after a massive rally from the bottom. However, this retracement or a price-wise correction is healthy for the coin to continue its bullishness. Amidst the retracement, the TRX price dropped only by 10%, which indicates a neutral sign. The trading volume declined by 20% to $316.36 this week, whereas the intraday volume rose by 56% to $716.56 Million.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-increased-sentiments-remains-neutral-strong"><strong>Price Volatility Increased; Sentiments Remains Neutral</strong></h2> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (TRX), Price Volatility 1w (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-15T18%3A29%3A59.189Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bprice_volatility_1w&amp;wax=0%3B1&amp;wc=%233b6dc6%3B%23FF5B5B&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Following the retracement, the investors book their profits, whereas some traders make fresh positions. This activity led to an increase in volatility, and the curve rose by 7% to 0.020. However, the total weighted sentiment remains neutral, and the curve stays near the midline of -0.157.</p>
<h2 class="wp-block-heading" id="strong-trx-witnessed-a-drop-in-social-volume-and-dominance-strong"><strong>TRX Witnessed A Drop in Social Volume and Dominance&nbsp;</strong></h2> <iframe loading="lazy" title="Santiment Chart: Social Dominance (TRX), Social Volume (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-15T18%3A29%3A59.189Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsocial_volume_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%2368DBF4&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The above data shows a decline in social dominance that replicates low activity on social platforms. The dominance curve fell 20% this week to 0.123%, whereas the social volume data declined by 80% to 35.</p>
<h3 class="wp-block-heading" id="strong-what-does-derivative-segment-indicate-about-trx-strong"><strong>What Does Derivative Segment Indicate About TRX?</strong></h3> <iframe loading="lazy" title="Santiment Chart: Marketcap (TRX), Total Open Interest in USD (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-15T18%3A29%3A59.189Z&amp;emcg=1&amp;emhwm=1&amp;wm=marketcap_usd%3Btotal_open_interest&amp;wax=0&amp;wc=%23FFCB47%3B%235275FF&amp;ws=%3B%7B%22node%22%3A%22area%22%7D" scrolling="no"></iframe>
<p>The above data indicates a price drop and suggests a short buildup activity, replicating that sellers are creating fresh positions and showing dominance. The change in the open interest was noted as a surge of over 3%. Following the price drop, the market cap declined to $11.23 Billion. The Relative Strength Index (RSI) curve slips to the oversold region, suggesting that a possible trend reversal may be seen shortly.</p>
<p>The total supply of the TRON coin is $89.45 Billion, whereas the volume-to-market cap ratio is 0.0637.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The TRON coin (TRX) price reveals profit booking from the highs, slipping below the 50-day EMA mark in the previous session. The sudden change in the price led to investors in trouble, and volatility was noted on the charts.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.1200 and $0.1160</p>
<p><strong>Resistance Levels:</strong> $0.1330 and $0.1450</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

TRON Price is Draining Gains: A Reversal or a Buying Opportunity?

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Thecoinrepublic.com

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