The price of TRON (TRX) is demonstrating steady growth, approaching a key resistance level at $0.30. In this article, we will analyze the current market situation and assess target levels.
Analysis of the Current Chart Structure
The TRX/USD chart displays a classic bullish continuation pattern. The recent breakout from horizontal consolidation lasted from late June into early July. The current price sits at $0.2991, just below a minor resistance band at $0.30–$0.305. A break above this zone could open up a move toward $0.32, followed by a possible test of $0.345–$0.35.
The Role of RSI in the Current Trend
The Relative Strength Index (RSI) is flashing a bullish signal with a current reading of 71.87, well into overbought territory. While this usually indicates potential cool-off, in strong trends, overbought RSI can persist as buyers continue supporting momentum. Previously, when RSI crossed above 70, TRX price rallied another 15% over the next 5 days.
Outlook and Possible Resistance Levels
Applying Fibonacci levels from the recent swing low ($0.262) to the breakout high ($0.301), we find: 23.6% retracement at $0.292, resistance zone at $0.305–$0.315. The buybacks at the 23.6% level confirm bullish sentiment. The measured move target based on this breakout structure gives a target of $0.340, which aligns with earlier RSI-based projections.
TRON price is positioned at a technical inflection point. A breakout beyond $0.305 could lead to a rapid move toward $0.34–$0.35. However, risk management is crucial as overbought conditions may prompt a brief consolidation.
