1/ 🚀 Technical analysis of #Tron $TRX : What's next for its price?
#TRONNetwork has risen from $0.28 to a recent high of $0.45, backed by strong buying volume. It is now consolidating between $0.37-$0.39, where could it move next?
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2/ Recent trend:
📈 Key support: $0.36-$0.37 (Bollinger Bands moving average).🔝 Immediate resistance: $0.45, a level that defines the next bullish advance.
The price is in a pause phase after an explosive rally.
3/ Technical indicators:
Bollinger Bands: At the upper band, indicating overextension and possible consolidation.RSI: At 70-71, a sign of overbought and potential selling pressure.Volume: Decreasing after the rally, which could reflect a cooling.
4/ Likely scenarios:
🔹 Short term:
If it breaks $0.45: Targets at $0.50-$0.52 or even $0.55.If it loses $0.36: Retracement to $0.33 or $0.28, where it could find support.
🔹 Medium term:
Bullish: Possible $0.55-$0.60 and even $0.70 in case of sustained trend.Bearish: Drop to $0.28 or $0.25 if selling pressure dominates.
5/ Conclusion:
$TRX is at a crucial moment. Support at $0.36-$0.37 will be key to avoid a larger correction. Resistance at $0.45 will determine if it can reach new highs.
📊 What do you think, will we see a breakout or a correction? 💬👇