TRX Tests Lower Bollinger Band Support at $0.31 as Bitcoin’s 6.5% Drop Weighs on Broader Crypto Market
The post TRX Tests Lower Bollinger Band Support at $0.31 as Bitcoin’s 6.5% Drop Weighs on Broader Crypto Market appeared on BitcoinEthereumNews.com.
Peter Zhang
Oct 17, 2025 19:28
TRON trades at $0.31 near critical technical support as Bitcoin’s decline from $115,734 to $108,186 pressures altcoins, with TRX showing resilience despite 2.87% daily drop.
Quick Take • TRX trading at $0.31 (down 2.9% in 24h) • Bitcoin’s 6.5% decline creating headwinds for altcoin markets • TRON testing lower Bollinger Band support at $0.31 level • Technical indicators suggest oversold conditions developing Market Events Driving TRON Price Movement The most significant catalyst pressuring TRX price this week has been Bitcoin’s substantial decline from $115,734 on October 13 to $108,186 on October 16. This 6.5% drop in the leading cryptocurrency has created a cascading effect across the broader digital asset market, with TRON following the bearish sentiment despite maintaining relatively strong technical fundamentals. While Bitcoin’s decline represents the primary headwind, TRON technical analysis reveals that the token has shown notable resilience. Analysts observed earlier this week that TRON was holding ground near $0.346 after climbing from recent lows around $0.33, keeping its multi-year uptrend intact. The current retreat to $0.31 represents a test of this longer-term bullish structure. Trading on technical factors in the absence of major TRON-specific catalysts, the TRX price has demonstrated buyers stepping in at higher lows throughout recent sessions, indicating underlying conviction despite broader market volatility. TRX Technical Analysis: Testing Critical Support Zone Price Action Context TRX price currently sits at $0.31, precisely at the lower Bollinger Band and just above the 200-day simple moving average at $0.30. This confluence creates a technically significant support zone that has historically attracted buying interest. The token trades below its shorter-term moving averages, with the 7-day SMA at $0.32 and 20-day SMA at $0.33 acting as immediate resistance levels. Volume remains elevated at $171 million on…
Filed under: News - @ October 18, 2025 7:28 am