$TRX /USDT drops to $0.2438 – Oversold or will it drop further? $TRX /USDT is currently trading at $0.2438, down 3.29% in the last 24 hours, after hitting a daily low of $0.2430. Selling pressure continues to dominate, with RSI hitting an oversold level.
Important levels to watch:
Resistance level: $0.2480 – A move above this level could suggest a short-term recovery.
Support level: $0.2430 – A break below this level could accelerate losses to $0.2400.
Indicators:
RSI at 6.20: Deeply oversold, signaling a potential recovery if buyers step in.
MACD: Bearish crossover, confirming strong downward momentum.
Scenarios:
1. Recovery potential: A recovery above $0.2480 could see TRX test $0.2500 as buyers regain control.
2. Further decline: A break below $0.2430 could lead to continued selling, targeting $0.2400 or lower.
Traders should closely monitor volume and price action to confirm any reversals. Tight risk management is recommended during this volatile period.
