$TRX is currently trading at $0.2521, marking a 4.78% increase in the past 24 hours. The price touched a high of $0.2523 and a low of $0.2392, reflecting strong bullish momentum. However, caution is advised as the RSI is nearing the overbought zone, signaling the possibility of a short-term correction.

Key Levels to Watch

Resistance Levels:

$0.2540: Short-term resistance. A break above this could push prices higher.

$0.2580: Major resistance, critical for confirming a bullish breakout.

Support Levels:

$0.2490: Immediate support to watch for any pullbacks.

$0.2450: Critical support zone. A drop below this could signal bearish sentiment.

Trade Setup

Long Entry: Above $0.2540

  • Targets:
    $0.2580

    $0.2610

  • Stop Loss: Below $0.2490

  • Short Entry: Below $0.2490

    Targets:
    $0.2450

    $0.2400

  • Stop Loss: Above $0.2540

  • Market Insight

RSI: Currently at 77.73, signaling that is in the overbought zone. This increases the likelihood of a short-term correction.

MACD: A positive crossover with rising momentum supports the bullish sentiment.

Outlook

$TRX is showing strong upward momentum as it approaches key resistance at $0.2540. A breakout above this level could trigger further gains, with potential targets of $0.2580 and $0.2610. Conversely, a rejection at resistance may lead to a pullback, with support levels at $0.2490 and $0.2450 providing critical defense zones.

Traders should monitor these levels closely to confirm the next move and adjust their strategies accordingly.

$TRX

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