Market Overview: TRXUSDT – Strong 24-Hour Rally Amid High Volatility

• TRXUSDT formed a bullish engulfing pattern at 0.3303–0.3310, followed by a strong rally to 0.3359.
• Price broke above the 20-period 15-min MA and remained in overbought RSI territory for much of the day.
• Volatility expanded through Bollinger Bands, with volume surging during the final 4 hours.
• A 61.8% Fibonacci retracement level at 0.3325 acted as support and later as a pivot during the rally.
• Closing above 0.3350 suggests a possible continuation to 0.3370–0.3400, but a pullback remains likely.

Price and Volume Action

Tron’s TRXUSDT pair opened at 0.3303 on August 5, 2025 (12:00 ET - 1), reached a high of 0.3359, and closed at 0.3356 by 12:00 ET on August 6. Total volume for the 24-hour period was approximately 129,656,665.4 USD, with notional turnover reaching a similar level. The price action showed a clear bullish trend, especially after the 19:00–10:00 ET window, where price broke above the 20-period moving average and remained above it.

Key Technical Indicators

The RSI remained above 60 for most of the session, signaling overbought conditions, while the MACD line crossed above the signal line mid-session and stayed positive. Bollinger Bands expanded in the final 4 hours, reflecting increased volatility. A bullish engulfing pattern at 0.3303–0.3310 preceded the breakout, while a 61.8% Fibonacci retracement at 0.3325 provided key support during the rally.

Fibonacci and Moving Averages

On the 15-minute chart, the 20-period MA (0.3325) and 50-period MA (0.3327) were both bullish and closely aligned, reinforcing the upward bias. On the daily chart, the price remains above the 50/200 MA, suggesting a strong trend. The Fibonacci levels from the 0.3313–0.3359 swing indicated that 0.3325 and 0.3350 are key psychological levels for both support and resistance.

Volume and Turnover

Volume increased sharply during the final 4 hours of the session, aligning with the price breakout above 0.3340. The notional turnover also spiked during this time, suggesting strong conviction in the upward move. There were no significant divergences between price and volume, indicating solid confirmation of the bullish trend.

Outlook and Risk

The current bias favors a test of 0.3370–0.3400, but traders should watch for a possible pullback to the 0.3325–0.3330 range, which could offer a better entry. A break below 0.3315 could reverse the momentum. Investors should remain cautious of potential profit-taking and increased volatility as the market may consolidate before the next move.