TRON (TRX) Surges 15% Toward $0.30 Resistance Amid Altcoin Momentum

TRON (TRX) has been making significant strides in the cryptocurrency market, climbing back towards the key $0.30 resistance level after weeks of sideways movement. This surge comes amidst a broader resurgence in altcoin momentum and strong network fundamentals, positioning TRX as one of the most resilient tokens in the market. The current price of TRX is just under the psychological $0.30 mark, having broken through critical resistance near $0.29. This steady climb has caught the attention of traders and investors who are now eyeing higher levels.

The daily chart of TRX/USD reveals a notable breakout from horizontal consolidation that lasted from late June into early July. This breakout was confirmed by a series of higher highs and higher lows on the Heikin Ashi candles, indicating a strong bullish trend. The current price sits at $0.2991, just below a minor resistance band at $0.30–$0.305. A clean break above this zone could open up a move toward $0.32, followed by a possible test of $0.345–$0.35, aligning with the upper Fibonacci extension targets.

The Relative Strength Index (RSI) is currently reading 71.87, well into overbought territory. While this usually hints at a potential cooldown, in strong trends, overbought RSI can persist as buyers continue driving momentum. Comparing this with the previous high near April 20, where RSI also crossed above 70, TRX price went on to rally another 15% over the next 5 days. If history rhymes and TRX performs similarly, we could project a price of $0.343, which aligns closely with the next resistance at $0.345–$0.35.

Applying Fibonacci retracement and extension from the recent swing low ($0.262) to the breakout high ($0.301), we get key levels at 23.6% retracement: $0.292, resistance zone: $0.305–$0.315, and Fibonacci extension 1.618: $0.34. So far, the pullbacks are being bought aggressively around the 23.6% level, confirming bullish sentiment. The measured move target based on this breakout structure gives a target of $0.340, which matches the earlier RSI-based projection.

The Heikin Ashi candles are still showing strong green bodies with no lower wicks, a powerful signal of sustained bullish momentum. However, the market may need to cool off before the next leg up. If TRX price corrects, $0.292 and $0.285 will be the first levels of support. A daily close below $0.280 would invalidate the bullish structure. But given that RSI has successfully bounced off the 70 zone and volume remains steady, a consolidation above $0.295 could lead to a renewed breakout.

In the short term (next 5–10 days), TRX price is likely to test $0.305 and then push toward $0.34–$0.345, especially if Bitcoin remains above $60k. In the medium term (July end), if momentum continues and RSI holds, we may see a run toward $0.35, gaining over 17% from current levels. The downside risk is that $0.285 remains a critical support — a breakdown below this could drag the price back to $0.262.

TRX price is at a technical inflection point. A breakout beyond $0.305 could trigger a fast move toward $0.34–$0.35, especially with RSI and Heikin Ashi signals aligning. However, risk management is crucial as overbought conditions may prompt a brief consolidation. If TRON price flips $0.30 into strong support, it might just surprise the market in the weeks ahead.