TRON (TRX) Price Rally Faces Overbought Signals – Key Levels to Watch After Big Jump in Volume
TRON price has remained in a firm uptrend lately, and the bulls are not yet ready to surrender. TRX is trading at $0.3582 at writing, and volume has rocketed almost 70% in the past 24 hours.
That is a dramatic pick-up in trading activity and normally suggests traders are very interested, especially those looking for short-term positions.
On the 4H chart, TRX price is holding nicely above the 30-period EMA at $0.3522. This line has been acting like a safety net for weeks, catching every dip and keeping the trend pointing upward.
We’ve also seen multiple “break of structure” moves, which is trader-speak for buyers taking control and pushing TRON price into new highs.
The recent slip from $0.3700 isn’t anything dramatic; it looks more like a breather after a strong climb.
The MACD is showing that momentum is slowing down, with the lines starting to move closer together. If buyers want this rally to keep going, they’ll need to jump in before the market runs out of energy.
Furthermore, zooming out to the daily chart, the picture is even more bullish.TRX price has been in a clean ascending trendline since June of last period, making steady higher highs and higher lows.
Read Also: Cardano (ADA) Price Outlook: Could This Be the Start of a 3x Rally?
TRON price is also comfortably above the 50-day SMA of $0.3119, which is a classic sign that the uptrend is still intact.
The only yellow flag? The RSI daily is sitting at 73, which places it in overbought territory. It does not demand a pullback, but it’s a signal the market might take a break or chop horizontally before making another large move.
TRON Price Key Levels to Watch
If TRX can regain and close above $0.3700, the next two levels are around $0.3850 and $0.3900. On the other hand, $0.3520 is the first big support level to monitor, then $0.3400 and finally the trendline around $0.3300.
With volume surging and the trend still in good shape, the price of TRX is in good position, as long as buyers continue supporting those big supports.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
