$TRX has been consolidating above the key support level at $0.2400, with resistance near $0.2550. A breakout above this resistance could drive the price toward $0.2650 and potentially $0.2750, continuing its bullish trend. However, if the price fails to break above $0.2550, a pullback to support at $0.2400 or $0.2300 may occur.
Key Levels to Watch:
Support: $0.2400 (essential for maintaining bullish momentum)
Resistance: $0.2550 (breaking this could target $0.2650 and $0.2750)
Entry Strategy:
Bullish Scenario: A confirmed breakout above $0.2550 with strong volume could lead to upward movement toward $0.2650 and $0.2750.
Bearish Scenario: A drop below $0.2400 could lead to a retest of $0.2300 or lower.
Technical Indicators:
The RSI is approaching overbought levels, suggesting potential for a breakout if momentum continues. Volume is steady, and an increase in volume could confirm further upside.
Outlook: $TRX is consolidating but could soon break higher if it clears resistance at $0.2550. Keep an eye on volume and support levels to guide the next move.