TRON (TRX) Price Hits Overbought Territory at $0.35, Analysts Warn of Pullback

TRON (TRX) is showing signs of exhaustion at $0.35, according to technical analysis. The RSI (Relative Strength Index) has entered overbought territory, and the MACD (Moving Average Convergence Divergence) momentum has flatlined.

The chart appears bullish due to TRX's price sitting above every major moving average, but this is misleading. The move lacks fuel, and momentum is stalled. Taker sell volume outpaces taker buy volume, indicating distribution rather than conviction buying.

The immediate support level for TRX is $0.34, which is also the EMA 12's coiling point. Below that, the $0.33 zone represents strong support backed by both the SMA 20 and SMA 50 converging. On the topside, $0.36 is a significant wall.

The positioning data tells a mixed story, with retail and institutional traders leaning long but open interest dropping 3.55% over 24 hours while price has barely moved. This suggests longs are quietly exiting into strength rather than adding exposure.