TRON – Why THIS metric says TRX could hit $0.4 next
Main Idea
TRON (TRX) shows bullish potential with key metrics suggesting a possible rally toward $0.4, supported by healthy futures activity and spot demand, though a retrace to $0.33 is possible if market conditions weaken.
Key Points
1. TRON has traded within an ascending channel over the past 2 months, currently at $0.357 after a 2.12% daily drop, but with 5.48% and 19% gains on weekly and monthly charts.
2. Futures Volume Bubble Map indicates room for further TRX growth, with healthy futures activity and no signs of overheating, similar to the December 2024 surge from $0.26 to $0.45.
3. Open Interest (OI) dropped from $340M to $313M, but Funding Rate remains positive for four days, suggesting weak hands are exiting while strong longs hold.
4. Spot demand remains strong, with Spot vs Perp Premium Averaged Out Dollar at 0.0014 and Relative Strength Index (RSI) at 74, indicating organic accumulation and bullish momentum.
5. If the uptrend continues, TRX could reclaim $0.37 and target $0.4; however, a decline in spot demand and OI could lead to a retrace to $0.33.
Description
Tron Futures Volume Bubble Map has settled within neutral zone, signaling more room for growth.
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