$TRX
🚨Tron (TRX) Price Forecast: Bully Set Sights on $0.30 despite $0.27 Pullback🚨
Tron (TRX) remains technically buoyant above the $0.265 level, with indicators supporting a cautiously bullish short-term outlook. On the daily chart, TRX is trading at $0.2718, marking a 1.12% uptick on May 24, and is attempting to build a base above the Parabolic SAR dots at $0.2614.
The positioning of the SAR dots below the current price reinforces bullish continuation momentum, suggesting buyers maintain trend control. This structure aligns with a series of higher lows since early May, even as the market wrestles with resistance just under $0.28.
The RCI Ribbon, particularly the 10-period (blue) line, has recovered from oversold levels and is climbing toward the neutral threshold after a sharp dip on May 21. While it currently reads -1.82, the upward slope suggests a reversal attempt is underway.
More so, the 30-period and 50-period RCI levels remain firmly in bullish territory at 84.65 and 82.14, respectively, providing a foundational signal that longer-term momentum remains intact despite short-term volatility.
However, a near-term bearish case cannot be ruled out if TRX closes below the SAR support. A break below $0.2610 may invalidate the bullish thesis with bears potentially swooping in to force a larger dip towards $0.25, where a previous demand cluster formed.
But if current RCI recovery continues and TRX sustains above $0.2650, a renewed test of $0.2850 appears likely, with a potential breakout toward $0.30 achievable if volume spikes align with the rally.