TRON (TRX) Enters Overbought Territory, Raising the Risk of a Correction

TRON (TRX) has officially entered overbought territory as of May 9th, raising caution among traders and analysts about a potential short-term correction.

TRON (TRX) has officially entered overbought territory as of May 9th, raising caution among traders and analysts about a potential short-term correction.

According to data from analyst BorisVest shared by CryptoQuant, while the broader momentum behind TRON remains bullish, the current conditions suggest the asset may be due for a cooling-off period. Overbought signals typically indicate that a price rally may be overextended, and a consolidation or pullback could follow as the market seeks equilibrium.

Key Support and Risk Levels

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Good morning!

Current levels to watch for $TRX.

* Base support is around $0.25, which needs to hold to maintain bullish momentum.

* But risk escalates if TRX falls below the key $0.24 level.

* A breakdown below this support could trigger a move into oversold territory and open the door for sharper corrections.

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