Tron (TRX) Surges to $0.34, Targets $0.45 on Bullish Momentum
Tron (TRX) has broken above the key $0.30 resistance and climbed to $0.34 following a consolidation between $0.20 and $0.30. The Mayer Multiple of 1.28 signals a 28% premium over the 250-day moving average, while an RSI near 68 indicates strong buying pressure without entering overbought territory. Derivatives funding rates remain slightly positive at 0.01%, reflecting cautious optimism among futures traders. Social dominance has risen to 1.10%, showing increased market chatter around TRX. A long/short ratio of 0.90 with 52.5% of positions short hints at a potential short squeeze if the uptrend continues. Technical momentum and stable sentiment support a possible 32% rally toward $0.45. Traders should monitor resistance levels, RSI, funding rates and positioning metrics to gauge the sustainability of TRX’s breakout.
Bullish
The break above $0.30 resistance to $0.34, backed by a Mayer Multiple of 1.28 and an RSI near 68, confirms sustained bullish momentum for TRX. Slightly positive funding rates and rising social dominance indicate balanced yet optimistic sentiment among derivatives traders and the wider crypto community. The moderate short bias and long/short ratio below 1.0 could trigger a short squeeze, boosting upside in the short term. Over the longer term, continued technical strength and stable sentiment may allow TRX to test $0.45, reinforcing a bullish outlook. Traders should monitor funding rates, resistance levels, RSI, and positioning metrics for signs of momentum continuation or potential pullbacks.