TRX Struggles at $0.32: Short Squeeze or Breakdown?

TRX is struggling to find support at $0.32, a level that has become a crucial battleground for bulls and bears.

The cryptocurrency has been bleeding out in slow motion, with every short-term moving average stacked above the current price, forming a ceiling of death between $0.33 and $0.34.

However, the Stochastic oscillator is at an extreme 4.21/%K and 3.37/%D reading, which historically precedes violent mechanical snaps.

The funding rate has cratered to -0.1858%, indicating a severe crowd of shorts who are paying longs to hold their positions.