The post Tron Price Holds Above $0.34, Will the Rally Sustain for Another Breakout? appeared first on Coinpedia Fintech News
Tron is back in the limelight, after a solid breakout above the $0.30 mark, ending months of sideways movement. Over the past 24 hours, TRX price has risen 1.97% to $0.3473, with a 7-day gain of 4.55%. The rally has pushed its market cap to $32.88 billion, while trading volume shot up 37% to $1.06 billion.
The move comes as bulls target higher resistance levels, but technical indicators suggest a possible cooling period ahead. Wondering what potential targets one should look at? Join me as I give you the possible Tron price targets in this analysis.
TRX Price Analysis
TRX’s recent price action marks a notable shift from its consolidation phase, which felt like forever. The breakout above $0.30 is acting as a strong bullish trigger. The coin has been supported by the middle Bollinger Band near $0.3407.
In the last 24 hours, TRX hit an intraday high of $0.3484, brushing close to immediate resistance at $0.3486. A decisive close above this level could open the gate for a test of the major resistance at $0.3650. Beyond that, the next target sits at $0.3802, with the all-time high of $0.4407 still a distant bullish goal.
Coming to indicators, the RSI stands at 71.61, entering the overbought zone, which may signal short-term profit-taking. However, as long as TRX holds above its key support levels at $0.3329 and $0.30, the broader bullish structure remains intact.
If selling pressure grows louder, Tron price could revisit the $0.30 support zone, with downside limited to $0.2506. Such a pullback could offer buying opportunities for long-term traders, especially if overall sentiment in the crypto market remains positive.
FAQs
TRX is trading at $0.3473 with a market cap of $32.88 billion.
Immediate resistance is at $0.3486, followed by $0.3650 and $0.3802.
Yes, the RSI is at 71.61, suggesting overbought conditions and potential for a short-term pullback.