Tron (TRX) Hits 30-Day High: Will the Rally Continue?

Tron (TRX) is closing June on a high note, trading at $0.12, its highest level in the past 30 days. The altcoin has surged nearly 10% over the last month.

On-chain data shows a strong demand driving TRX’s price rally. The Relative Strength Index (RSI) for TRX stands at 66.25, indicating a bullish trend with most investors accumulating rather than selling. The RSI, which ranges from 0 to 100, signals overbought conditions above 70 and oversold below 30. TRX's current RSI suggests continued interest in buying.

However, some traders are capitalizing on the price rise, with exchange inflow volume increasing by 4% over the past 30 days. This metric, which tracks assets moving to exchanges for potential selling, shows 181.81 million TRX worth $22 million currently on exchanges.

Bullish sentiments are evident with the Parabolic Stop and Reverse (SAR) indicator showing dots below TRX’s price, indicating an uptrend. If this trend persists, TRX could rise from $0.12 to $0.13.

However, if profit-taking intensifies, it could reverse the trend and push TRX down to $0.11.
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