Key Takeaways
TRON has been making new highs for the year of 2025 since June, and this bullish trend is set to continue. The altcoin retained its strong bullish structure, and the next key resistance level to overcome was $0.35.
TRON [TRX] was trending higher while the rest of the crypto market faced a correction.
Since the 15th of July, TRON has rallied 8.85%, while Bitcoin [BTC] has dropped by 3.5%. Ethereum [ETH] has rallied 15.38% in the same period.
This performance helped explain the higher positive correlation between TRX and ETH than between TRX and BTC. As per IntoTheBlock, TRX shared a strong 0.94 correlation with ETH but only 0.74 with BTC.
Moreover, the price action of TRON showed a buying opportunity, even as BTC continued to correct toward the $112k support.
The current TRX rally could push beyond the $0.35 mark and potentially to a new all-time high in the coming weeks.
TRON rebounds from the $0.32 support zone, poised to push higher
Source: TRX/USDT on TradingView
TRON has a bullish market structure on the 1-day chart. The local swing highs and lows were marked in white.
On the 29th of July, the token broke past a local high, marking a bullish structure shift. The price then retraced to the $0.32 demand zone, where it found support.
The volume bars showed decent trading volume in July, generally above the 20-day moving average. Additionally, the CMF remained above +0.05 to reflect sizeable buying pressure on TRX.
The MFI slipped below 50, but it did not show strong bearishness yet. It appeared likely that TRON would rally higher, given its bullish structure and heavy buying.
TRX balances on key level as momentum cools
Source: TRX/USDT on TradingView
On the 4-hour chart, the MFI reflected muted momentum over the past couple of days. Most importantly, the 50-period moving average continued to act as support.
Its confluence with the $0.32 demand zone meant that a bullish TRX reaction could be expected over the weekend.
A price drop below $0.32 would be the first sign of short-term bearishness, which swing traders should be aware of.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
