title: TRON (TRX) Market Shows Stability; Price Hasn't Varied Much in the Last 24 Hours

Latest figures from TradingView show that the TRON (TRX) market is showing stability because its price has not varied much over the last 24 hours.

The TRON (TRX) market is showing stability as its price has not varied much over the last 24 hours, Latest figures from TradingView show.

The TRON (TRX) market is showing stability as its price has not varied much over the last 24 hours, Latest figures from TradingView show.

TRON (TRX) is currently trading at $0.2480. Its relative strength index (RSI) stands at 14, suggesting that the token is oversold.

TRON (TRX) is currently trading at $0.2480. Its relative strength index (RSI) stands at 14, suggesting that the token is oversold.

However, its volume of trading remains healthy at $157.18 million, which indicates that there remains steady demand for the token from traders.

TRON (TRX) Prices Show Stability Despite Bearish RSI

The moving average convergence divergence, or MACD, is showing a small bullish crossover. The MACD setup right now points to a small bullish crossover. The MACD line looks ready to cross above the signal line. Traders often see this as a sign to buy.

Image: MACD and RSI. Source: TradingView

Also, the tight spread between the buy and sell prices indicates a balanced market. Hence, there’s no clear control of the market by the bulls or the bears. Based on the smaller buy order at $0.0001, there’s some speculative interest at lower prices.

However, this interest has minimal impact on the broader market. In addition, TRX’s Fibonacci level of 38.2% suggests that it has room to recover towards higher levels.

Traders use the Fibonacci retracement level to identify possible price reversal levels.

Fib. Levels. Source: TradingView

Point to Note:

Besides the technical analysis, economic factors, Bitcoin’s price movement and the wider crypto market conditions can affect TRX’s price in unique ways. Upgrades in technology and new partnerships within the TRON ecosystem have played a role in keeping TRX’s price stable.

Besides the technical analysis, economic factors, Bitcoin’s price movement and the wider crypto market conditions can affect TRX’s price in unique ways. Upgrades in technology and new partnerships within the TRON ecosystem have played a role in keeping TRX’s price stable.

If buying pressure increases, TRX might bounce back. Should the selling pressure increase, TRX will find its next crucial support at the $0.2400 level.