Will Tron (TRX) price retest $0.15 before hitting a new high?

The cryptocurrency market has seen volatility in recent weeks, and TRON (TRX) is no exception.

After a period of consolidation, TRON’s price currently hovers around $0.1599, making it one of the altcoins to watch.

As the 9th largest cryptocurrency by market capitalization, TRX has surged approximately 50% this year, attracting attention from both retail and institutional investors.

But with technical indicators pointing in different directions, traders are questioning whether TRON will retest its key support levels at $0.15 or rally to fresh yearly highs.

Recent price pullback suggests a critical support level for TRON

TRON has seen a neutral trend over the past week, recording a slight change of +0.33%.

While this might seem insignificant, it indicates that the price is stabilizing after a strong pullback in late August.

Currently, the altcoin is trading at a discount of about 5% from its recent highs, suggesting a potential retest of the $0.15 support level in the short term.

The 24-hour trading volume of $274.91 million shows there is still significant market activity, but not enough to decisively shift the price in either direction.

Source: Coinpedia

Technical indicators, such as the Moving Average Convergence Divergence (MACD), show a decline in the green histogram, hinting at a possible bearish convergence.

Similarly, the Simple Moving Average (SMA) has experienced a negative crossover in the 1-day time frame, which suggests that TRON could face downward pressure in the coming days.

Potential for a rally if support holds

Despite the bearish signals, there is still a possibility of a bullish reversal if TRON manages to hold its support level.

The altcoin is trading within a triangle pattern, and a successful retest of the support trendline could propel it toward its upper resistance level of $0.1635.

Should the bulls take control, TRON could further target the $0.1760 mark, a key level that would confirm a breakout to new highs.

This scenario largely depends on market sentiment, which remains mixed. With increased volatility across the broader cryptocurrency market, TRON’s price could swing in either direction, making this a critical period for traders and investors alike.

What if TRON breaks support?

On the flip side, if the bears gain dominance, TRON could break down from its support trendline, leading to a sharp decline.

The first target in such a bearish scenario would be the $0.15 level, which has acted as a strong support zone in the past.

If selling pressure intensifies, TRON could fall further to its lower support at $0.1450. In this case, investors may see a prolonged correction before the market recovers.

Can TRON outperform in Q4?

As we move into the final quarter of the year, TRON’s price action will largely depend on broader market conditions and the performance of other major cryptocurrencies like Bitcoin and Ethereum.

If market sentiment improves, TRON could stage a strong comeback, potentially retesting its yearly high of $0.1760. On the other hand, if volatility continues to increase, a retest of the $0.15 support level seems more likely.

TRON’s price is at a crossroads, with both bullish and bearish scenarios possible in the short term.

Traders should keep a close eye on key technical indicators and market sentiment to determine the next move.