Market signals indicate a potential price correction for Tron with a projected 18% drop unless crucial support levels are regained. Technical indicators point towards a potential bearish trend looming over the cryptocurrency's price trajectory.

TRX's Path to Correction

Tron's price surged successfully from January to February and transitioned to corrective movements in March. The recent downward trajectory led to a 21% retreat, with further declines expected based on the formation of a death cross on the daily chart. A death cross signals a potential downtrend when the short-term moving average crosses below the long-term moving average, reflecting a possible shift in market direction.

Market analysis highlights the significance of active addresses in determining investor sentiment towards potential profits. More than 48% of traders are currently in a profit zone, indicating a focus on capitalizing gains amidst the price fluctuations. Tron's trading price faces a critical point as it hovers above the 50% Fibonacci line, with potential support at $0.101. However, market forecasts anticipate a pullback towards $0.089, representing an 18% correction barring a recovery to the $0.113 price level.

To counter the projected correction, Tron must surpass the $0.113 resistance and establish a stable base at $0.120, denoted as a bull market support zone, in order to invalidate the anticipated price drop.