Tron (TRX) has been trading within a specific range since mid-November, but a recent surge over the past two days has caught the attention of investors. Despite operating within a higher time frame resistance zone, buyers appear to be gaining strength, suggesting a possible continuation of the uptrend.
While Bitcoin (BTC) and the broader crypto market face selling pressure, TRX has shown a strong upward trend in the last three days. The blockchain achieved a new milestone with the total account count surpassing 206 million. The daily price chart for TRX indicates significant buying activity, with the On-Balance Volume (OBV) indicator rising and the price closing well above the day’s high at $0.1092.
A pullback to the same region for liquidity before the next move is possible, yet the current momentum and market structure could favor buyers. TRX highlighted a one-week chart decline from $0.1028 to $0.1175, recalling a strong rejection from this zone in November 2021, which led to a drop to $0.0514 two months later.
A weekly close above the $0.1175 level could signal TRX’s readiness for a potential rise to $0.142 in the coming months. However, a retest of the same resistance zone as support may occur before any further ascent. The current bullish trajectory for TRX is not over yet, with positive cumulative liquid levels delta suggesting a predominance of long liquidation levels over short positions, indicating that a price drop could be profitable to capture liquidity.
Significant liquidation levels of $1.5 million or more were present at $0.118 and $0.12, suggesting TRX could climb to these and higher levels before reversing. Additionally, dips to $0.113, $0.11, and $0.1 could offer attractive buying opportunities and are likely to be retested as part of a bullish response.
