TRON price analysis (Bearish) — 0.31 USDT (-3.26% 24h)

TRX is showing significant technical weakness with a 3.26% decline over the past 24 hours, pushing the price to $0.3119 against considerable selling pressure. The RSI reading of 27.65 indicates severely oversold conditions, typically suggesting potential for a near-term bounce. However, TRX remains below both its 20-day SMA ($0.31704) and 50-day SMA ($0.31826), confirming the bearish momentum structure. Trading volume remains elevated at $141.8 million, suggesting continued institutional interest despite the price decline. For traders, this presents a potential contrarian opportunity – consider scaling into long positions with tight stops below $0.305, targeting a retest of the $0.317 resistance level. More conservative traders should wait for a confirmed break above the 20-day SMA before entering positions. The high volatility reading of 2.2% suggests position sizing should be reduced accordingly.