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Summary
• Price action showed a bullish bias with a 0.3042 high and consolidation near 0.3035.
• RSI reached 58, indicating moderate momentum with no overbought or oversold signals.
• Volume spiked during the 22:15–23:30 ET window, suggesting increased buying pressure.
• A bullish engulfing pattern formed around 0.3025, aligning with the 38.2% Fibonacci level.
• Bollinger Bands showed a mild expansion, reflecting rising volatility in late afternoon ET.
The TRON/Tether (TRXUSDT) pair opened at 0.3019 on January 13 at 12:00 ET, reached a high of 0.3062, and closed at 0.3042 at 12:00 ET on January 14. Daily trading volume totaled approximately 65,798,540 TRX with a notional turnover of $19,905,444.
On the 5-minute chart, price briefly crossed above the 20-period SMA at 0.3055, signaling a possible short-term bullish bias. RSI reached 58 during the peak rally and remained in neutral territory, avoiding overbought conditions. MACD showed a positive divergence after the 22:15 ET surge, supporting the continuation of upward momentum.
The market appears to be consolidating around the 0.3040–0.3035 range, with the potential to test the 0.3060–0.3070 zone if buyers show strength. However, a breakdown below 0.3025 could trigger further correction toward 0.3013–0.3009. Investors should closely watch volume behavior and RSI divergence for signals of waning momentum.
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