Summary
TLDR: TRON (TRX) has seen significant attention from traders, with the 7-Day RSI remaining overbought despite a recent dip. There is potential for increased volatility as short-term holders gain a larger stake in the circulating supply. The EMA lines indicate bearish momentum, with potential price corrections ahead. Investors should watch for strong resistance levels at $0.1318 and $0.135.
Key Points
1. TRON (TRX) has drawn significant attention from traders in the past week, hinting at potential increased volatility in the near future despite a recent dip. The 7-Day Relative Strength Index (RSI) continues to hover in the overbought zone.
2. A noteworthy trend has emerged as the long-term Exponential Moving Average (EMA) line approaches the short-term EMA line, indicating a potential price correction as traders perceive the coin as overvalued at current levels.
3. There has been a notable uptick in the TRX supply held by Traders over the past week, with short-term holders gaining a larger stake in the circulating supply. This increase in short-term traders can lead to increased price volatility and potential impacts on the price of TRX.