• TRON’s price faces key support at $0.233 and resistance at $0.245.
• Rising trading volume indicates strong market activity and potential volatility.
• RSI below 50 signals mild bearish pressure, but reversal may occur soon.

TRON (TRX) has jumped 2.35% in the past 24 hours, with the price now at $0.2385. As the crypto market swings, many investors and traders wonder if this price momentum will continue. TRON’s recent trading activity has shown both bullish and bearish signals, giving us key price levels to watch.

Price Trend and Key Levels

Over the past 24 hours, TRON’s price has been quite volatile, showing active trading. The price hit a high of about $0.245, testing a resistance level before falling back. TRON found support around $0.233, which has helped the price stay relatively stable. These fluctuations show both market opportunities and risks for investors.

The support level of $0.233 is critical. If the price drops below this, we could see further declines. However, the $0.238 level, where TRON is currently trading, is interim support, helping to maintain price stability for now. The resistance at $0.245 is still an immediate hurdle, with any break above this level potentially heading toward the $0.250 psychological resistance zone.

Volume and Market Activity

In the past 24 hours, TRON’s trading volume has grown by 5.89%, reaching $2.04 billion. This increase shows heightened interest and activity in the market.

The volume-to-market cap ratio of 9.91% also indicates that the trading activity is strong relative to its market capitalization, which is $20.54 billion. Such strong market participation could lead to further price swings, depending on how buyers and sellers react in the coming hours.

Related: TRON’s 2024 Growth: Record Revenue, High Activity, Strong Prospects

Outlook and Indicator Analysis

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So, what’s next for TRON? It depends on key technical indicators. The Relative Strength Index (RSI) is currently at 46.59, suggesting mild bearish pressure. But as the RSI climbs, it could indicate that buying pressure is getting stronger, potentially reversing the current trend.

The Moving Average Convergence Divergence (MACD) is also showing bearish momentum, with the MACD line slightly below the signal line. Even so, the decreasing bearish momentum in the histogram suggests that a trend reversal or consolidation could be coming.

Price Forecast for January 2025

Looking ahead to January 2025, TRON’s price should fluctuate within a range of $0.239 to $0.253. Changelly analysts predict that by mid-2024, TRON could trade at an average price of $0.246.