Summary
• TRXUSDT formed a bullish recovery pattern from 0.2775–0.2795, rebounding to close near 0.2814 on strong volume.
• Momentum shifted upward in the final 4 hours, with RSI breaking above 50 and MACD crossing into positive territory.
• Bollinger Bands show moderate expansion, with price closing near the upper band, suggesting rising volatility.
• Daily volume and turnover surged in the 16:00–17:00 ET window, confirming a potential breakout.
• Fibonacci retracement levels indicate potential resistance at 0.2820 and support at 0.2790 in the near term.
TRON/Tether (TRXUSDT) opened at 0.2797 at 12:00 ET - 1, reached a high of 0.2817, a low of 0.2775, and closed at 0.2814 by 12:00 ET the next day. The 24-hour volume totaled approximately 113.6 million TRX, with a notional turnover of $31.5 million.
Structure & Formations
The price action on the 5-minute chart revealed a bearish consolidation from 0.2775–0.2795, followed by a strong bullish breakout in the final hours of the 24-hour period. A bullish engulfing pattern formed near 0.2800, and a small bullish doji at 0.2814 suggested a potential pause in upward momentum. Key support levels appear to be consolidating around 0.2790 and 0.2775, with resistance at 0.2820 and 0.2825.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages crossed above the price in the final 2 hours, confirming the upward shift. On a daily basis, the 50-period MA appears to be acting as a dynamic support around 0.2785–0.2800.
Momentum Indicators
RSI climbed above 50 in the last 4 hours, reaching 58–60, indicating moderate overbought conditions. MACD crossed into positive territory and remained above the signal line, with a bullish histogram, suggesting sustained upward momentum for now.
Bollinger Bands
Volatility increased in the final 5 hours, with Bollinger Bands widening. Price closed near the upper band at 0.2814, suggesting a breakout could be in progress. A retest of the upper band is likely in the short term.
Volume & Turnover
Volume surged to over 10 million TRX in the 16:00–17:00 ET window, coinciding with the price breaking above 0.2815. Notional turnover mirrored the volume spike, confirming a strong institutional or large-capacity buying interest in the final hours.
Fibonacci Retracements
Applying Fibonacci levels to the recent 5-minute swing from 0.2775 to 0.2817, the 61.8% level is around 0.2805 and the 78.6% level at 0.2818. On the daily chart, the 38.2% retracement of the broader move is near 0.2790, which appears to be a critical support zone.
Looking ahead, TRXUSDT may test the 0.2820–0.2830 resistance zone, with a successful breakout likely to attract more buyers. However, a pullback to the 0.2790–0.2800 range could offer a re-entry opportunity. Investors should remain cautious about a potential correction if momentum indicators overextend.
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