Technical Analysis: TRON (TRX) Cools Off After Major Rally


TRON (TRX) has been on a roll, gaining around 60% from its Friday low and breaking above $0.02 before pulling back. The altcoin is now consolidating below $0.019 as the RSI cools off on the daily chart.

TRON price chart
TRX/USD 1-day chart (TradingView)

TRX is still trading well above both EMAs with a ton of volume behind the latest move. Three days ago, TRX saw the highest trading volume since January of this year.

The recent breakout has changed the weekly trend but not the monthly which means the bulls might still encounter some resistance going forward.

Investors interested in trading TRX commission-free can earn $25 in free BTC by signing up for the Voyager app through this link (or use code: SLUDGE25).

More: TRON (TRX) Dapps Can Now Be Developed for Samsung Smartphones
Recent: Likelihood of Bitcoin (BTC) Being Above $20K by June Jumps to 10%

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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