Tron (TRX) Price Stuck in Sideways Trend — Volatility Expansion Imminent

Key Takeaways

• Price capped twice at 0.618 Fibonacci resistance
• Hidden bullish RSI divergence resolved upward
• Two-scenario outlook: breakout or final C-wave drop
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Tron (TRX) navigates a pivotal technical setup following a structured Elliott Wave sequence and clear Fibonacci interaction.

Recent developments on the higher time frame indicate that the asset may have completed a corrective phase and is gearing for renewed momentum.

Meanwhile, the lower time frame reveals a nuanced wave formation suggesting short-term inflection points with actionable levels for traders.

TRX Price Analysis

On the 4-hour chart, TRX has completed a descending channel structure, coming to a low of $0.20 on Feb. 3.

After the February capitulation, we saw a recovery, but it was halted at the 0.618 Fibonacci level at $0.245, which had served as resistance since Feb. 12.

The breakout from the descending channel suggests a probable end to the correction and the onset of a new bullish sequence.

On March 17, the price made a higher low of $0.21  but again stopped at the 0.618 Fib on its next attempt to establish an uptrend.

The Relative Strength Index (RSI) previously formed a hidden bullish divergence, which has since resolved upward.

On its latest high, it retested the overbought level and is now slightly above 50%.

This suggests recovering momentum but still an equal possibility for a move in either direction.

In addition, since the February low, we have seen the formation of a well-respected ascending support trendline.

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In all, two scenarios emerge—the first being that the WXY correction ended on Feb. 3, and the second being that it is currently developing its last Y wave with one more push to the downside.

TRX Price Prediction

Zooming into the one-hour chart, we present the bearish case as the primary one, leaving room for a breakout direction to confirm the outlook.

TRX appears mid-way through its last ABC correction of a lower degree, meaning another C wave should develop to the downside, concluding wave Y of a higher degree.

On the other hand, we could have seen the first impulse wave, followed by a first corrective one to the March 16 higher low of $0.21, in which case the following structure is its wave 3.

A breakout to the upside above the 0.618 Fib resistance would confirm the bullish outlook.

Should the price break the ascending trend, our first target to the downside would be at the 0.786 Fib at $0.189.

But if TRX regains bullish momentum, a breakout above $0.245 will likely lead to the 0.5 Fib at $0.284.

As the price action narrows, we can soon expect this decisive move, which will validate our assumption.

Key Levels to Watch

• Immediate Resistance: $0.245 (0.618 Fibonacci retracement).
• Major Breakout Target: $0.284 (0.5 Fibonacci retracement).
• Immediate Support: $0.210 (March 17 higher low and trendline pivot).
• Critical Support: $0.189 (0.786 Fibonacci retracement).
• Bearish Target if Breakdown Confirmed: Below $0.189.
• Bullish Confirmation Level: Above $0.245 (channel breakout and Fib clearance).
• Invalidation Zone (bullish): Below $0.189 (would extend corrective wave Y).