$TRX
Technical analysis of TRX/USDT – Are you ready for further increases?
Current price: 0.2621
24-hour increase percentage: +2.22%
24-hour trading range: from 0.2562 to 0.2661
Quick technical overview:
Bullish momentum: TRX price recently rose from 0.2210 to 0.2661, reflecting strong bullish momentum.
Trading above moving averages:
EMA7 = 0.2547, EMA25 = 0.2483, EMA99 = 0.2399. Prices are currently trading above short-term moving averages, indicating strong bullish momentum.
RSI at 79.80: The RSI indicator is approaching the overbought territory (above 70), which means there is a possibility of a correction or price fluctuations before the upward trend continues.
MACD shows positive momentum, with a bullish crossover, reinforcing the continuity of the upward trend at present.
Proposed strategy: "Capitalize on bullish momentum"
Entry point: If the price continues to hold above 0.2600 with sustained high trading volume.
First target: 0.2700
Second target: 0.2800
Stop loss: 0.2550 in case of a quick correction.
Forecast:
The most likely scenario is the continuation of bullish momentum with the price maintaining trading above 0.2600.
However, RSI should be monitored, as its high levels may indicate a slight correction soon.