Altcoins News
By Steven Anderson
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TRON (TRX) is holding steady around $0.33 after a major milestone—Tron Inc.’s entry into the Nasdaq through a $100 million reverse merger with SRM Entertainment.
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TRX Momentum Continues After $100M Nasdaq Merger
3 / 15
The TRON price surge is largely fueled by its historic move into traditional finance. On July 24, Tron Inc.
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This strategic listing has not only brought increased visibility but also opened doors for potential institutional interest in TRON’s broader ecosystem.
5 / 15
The bullish momentum continued into the following week. On July 28, Justin Sun participated in an AMA (Ask Me Anything) session with Cointelegraph, highlighting the project's…
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Technical Overview: TRON Trading Strategy Now Faces Overbought Conditions
7 / 15
While TRON’s Nasdaq debut has fueled a strong uptrend, traders are becoming cautious. The TRX Relative Strength Index (RSI) now sits at 72.24, signaling overbought territory.
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At present, TRX is trading above key moving averages. The 200-day simple moving average (SMA) sits at $0.26—well below the current price of $0.33.
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The MACD (Moving Average Convergence Divergence) indicator shows a bullish setup as well, with the MACD line at 0.0092 above the signal line at 0.0090.
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Other oscillators like the Stochastic RSI show further caution. With %K at 81.74 and %D at 71.26, TRX may be primed for some consolidation before another leg up.
11 / 15
Bollinger Bands: Price at Upper Limit Indicates Potential Resistance
12 / 15
Bollinger Band analysis also signals caution. TRX is trading near the upper band resistance of $0.33, a level that has served as a ceiling multiple times over the past week.
13 / 15
This band configuration suggests that while bullish momentum remains intact, upside may be limited without a breakout backed by strong volume.
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In terms of price structure, TRON has immediate resistance at $0.33, coinciding with the Bollinger Band upper boundary and recent daily highs.
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On the downside, support is well-established. Initial support lies at $0.29, near the 50-day SMA and Bollinger Band lower limit. A stronger support base is found at $0.
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