TRON Surge from $0.2320 to $0.2475: Is the Downtrend Over?

Let’s dive into the TRON analysis as it surged from $0.2320 to $0.2475 and explore key support and resistance levels and upcoming market scenarios.If you are tracking TRON (TRX) and want to invest in it or have already invested in TRON’s uptrend, then this analysis will help you determine the possible scenarios in the upcoming days. What will be the support and resistance levels? With the explosion in the price of TRON, there is a question in everybody’s mind: Is the downtrend over, or is this the start of a new trend? Let’s dive into TRON price analysis and see what’s going on.

TRON Price Analysis from 2nd to 3rd March

On 2nd March, the price formed a resistance level at $0.2345 with a support level of $0.2325. Within this range, certain patterns appeared. The first was the converging triangle at 04:00 UTC. This converging triangle failed to push the price lower and instead broke out to the upside, causing the price to rise to the resistance level.

Chart 1: Analysed by vallijat007, published on TradingView, March 3, 2025

This rise formed a wide channel, which broke out to the downside at 07:15 UTC. The price again formed a channel, pushing it toward the lower end of the support, but it was unable to break the support level and broke out to the upside, pushing the price higher at 09:20 UTC. However, this time, the price failed to rise further, and again, a converging triangle was formed at support.

Price Breakout, Resistance Test, and Continued Selling Pressure

The price formed a spike and a narrow channel. This narrow channel pushed the price to the resistance level, eventually breaking the resistance level at 13:25 UTC. However, the price failed to form a spike and instead formed a range above the resistance level. This range broke out to the upside at 15:25 UTC, confirmed by the MACD golden crossover at the same time. The price formed a spike and channel pattern, and RSI moved to the overbought area at 15:30 UTC.

At 17:30 UTC, MACD showed a death cross, suggesting a reversal or at least a correction in price. The price marked the top for the day at $0.2475. After that, the price broke out to the downside of the channel, forming a converging triangle, which broke out to the upside at 19:35 UTC. The breakout formed a spike and channel pattern, but instead of breaking out to the upside, the channel broke out to the downside, suggesting that selling pressure was not over, and another range was formed.

Range Continuation and Potential Breakout Scenarios

From the early hours of 3rd March, the price continued moving within the range formed yesterday. It broke out from the range at 02:05 UTC to the downside.

• If this breakout succeeds, the price may drop to $0.2390, as this was the level where the initial spike and channel pattern formed after breaking the resistance level.
• If this level does not hold, the price may drop further to the resistance level of $0.2345, which now acts as a support level.
• If the downside breakout fails, then the price may rise and break yesterday’s high of $0.2475.

Final Words

The recent explosion in the price of TRON makes investors and traders feel that they missed an opportunity. If the price breaks yesterday’s high, then the uptrend may continue for the week if it does not, then a range-bound market could be seen. Traders and investors are advised not to get trapped in the greed of missing out. If TRON’s uptrend continues, there will be many chances to enter.