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Tron Price Analysis: TRX/USD jumps into overbought zone

FX Street
Updated:
  • RSI has dipped into the overbought zone, indicating that TRX/USD is overvalued.
  • The MACD shows increasing bullish momentum.

TRX/USD daily chart

TRX/USD daily chart

TRX/USD bulls retained control of the market for the third straight day as the price went up from $0.01928 to $0.01951. In the process, the price jumped above the 20-day Bollinger jaw upper band. The RSI has also crept into the overbought zone, indicating that the price is currently overvalued and may face bearish correction soon. The MACD shows increasing bullish momentum.

TRX/USD has healthy support levels at $0.0185, $0.0181 and $0.01897 (SMA 20).

FX Street

FX Street

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