- TRX slipped below its ascending trendline, trading around $0.345 after a 7% drop from yearly highs.
- On-chain data shows negative Spot Taker CVD and funding rates, signaling growing bearish pressure.
- If TRX fails to reclaim $0.345, price could slide toward $0.330, though a recovery above resistance may retest $0.370.
Tron (TRX) is starting to wobble. The token slid under its ascending trendline earlier this week and now trades near $0.345, signaling that the once-steady bullish structure might be breaking down. Momentum looks weaker, and both on-chain signals and derivatives data seem to agree that a correction could be looming.
On-Chain and Derivatives Tilt Bearish
According to CryptoQuant, TRX’s Spot Taker CVD has been running negative since mid-August and continues to rise in the wrong direction. For context, this metric tracks the gap between market buys and sells over three months. When it’s positive, buyers are in control; when negative, it’s the sellers who dominate. Right now, sellers clearly have the upper hand.
Adding to that, Coinglass data shows TRX’s funding rate just flipped negative at 0.0026%. That means shorts are paying longs—usually a red flag that bearish sentiment is spreading and downside pressure could build further.
Price Forecast: Testing Key Levels
Over the weekend, TRX tried to push higher but was rejected close to its yearly high at $0.370. The rejection sparked a drop of nearly 7%, pushing the coin below its trendline support for the first time since late June. At present, TRX is stuck around $0.345, which doubles as a daily resistance.
If bears keep the pressure, the next logical target is the 50-day EMA near $0.330. Momentum indicators aren’t helping either—the RSI sits flat near 50, showing indecision, while the MACD turned bearish on Sunday with a crossover that usually signals further selling ahead.
Still, there’s an alternate case. If TRX manages to climb back above $0.345 on a daily close, the path could reopen toward $0.370. That said, the burden is on buyers to prove the bulls still have fight left.
