TRON (TRX) Price Analysis: Long positions must defend this support level to achieve recovery, can TRX do it?

According to Gate news and AmbCrypto, during the recent fall in the Crypto Assets market, the price of TRON (TRX) has not been as severely affected as other altcoin markets. The escalating tensions in the Middle East and the involvement of the United States have dispelled any bullish expectations in the market. Concerns over rising oil prices and increasing inflation are just a small part of the many worries investors have.

In the past 24 hours, the value of Bitcoin (BTC) has fallen by 3.68%, while TRX has only fallen by 2.87%.

In contrast, Ethereum (ETH) and Solana (SOL) fell by 9.22% and 7.5%, respectively, during the same period. The correlation matrix shows that TRX has a correlation of only +0.32 with Bitcoin, which helps explain its relative stability in the current turbulent market.

Will the calm appearance of TRX continue on the price chart?

On the 1-day chart, TRX has formed a range between $0.263 and $0.294 (white).

(Source: Trading View)

For the past six weeks, TRX has been trading within this range. As of the time of writing, TRX has once again fallen to the low end of this range. On June 17, the mid-range resistance level of $0.279 rejected the bullish momentum of TRX. The price held firm at the 61.8% Fibonacci retracement level of $0.27 but was ultimately forced to retract. The Fibonacci retracement level is drawn based on the movement from $0.16 to $0.45 during the period from November to December 2025.

The OBV indicator shows that there has been a balance between buyers and sellers over the past month. The RSI indicator has fallen below the neutral 50, indicating that momentum is turning bearish.

The 1-month liquidation heatmap outlines the range pattern of TRON TRX. The magnetic zone at $0.264 has been swept away, but it could rise to $0.261. A bullish reversal is also possible.

However, despite the low correlation between TRX and BTC price movements, the crypto assets market may still exhibit a bearish trend in the coming days. Therefore, swing traders should be cautious of market volatility when going long on TRX.

Below $0.261, the support level at $0.24 may be the next key liquidation cluster that could attract a fall in TRX prices.