TRON RSI Signal Previously Led to an 80% Increase — Can TRX Price Reach a New All-Time High?

The TRX price has corrected 25% since reaching its yearly high of $0.145 on February 28. Due to the decrease, TRX’s bullish structure hangs by a thread. However, the daily RSI has given a bullish signal that previously led to an 80% increase. Can the same thing happen again?

What is TRX’s Bullish Signal?

TRX has increased alongside an ascending support trend line for the past 405 days. The trend line has been validated six times (green icons), most recently on April 18. The retest was a result of the downward trend ongoing since February 28.

Since the trend line has been in place for a long period of time, the bullish trend remains intact as long as the trend line exists.

Even though TRX is at risk of breaking down, the daily RSI has given a bullish signal that has previously catalyzed an upward trend. The TRON RSI signal is a bullish divergence (green) from inside oversold territory.

Bullish divergences often lead to bullish trend reversals. Since the indicator is in oversold territory, the signal gains greater prominence.

Such a bullish divergence has occurred only once since the start of 2022, more specifically in January. After the divergence, the TRX price increase 80% over the next 103 days. It remains to be seen if a similar increase will follow in the upcoming months.

TRX Price Prediction: Is a New All-Time High Likely?

The weekly time frame chart suggests the TRX price is finishing wave four in a five-wave upward movement. The entire move started in November 2022.

Currently, TRX trades in a three-level support, created by a horizontal support area, the previous ascending parallel channel pattern and the 0.382 Fibonacci retracement support level. The weekly RSI is also at 50 (red circle), so whether the TRX price bounces or breaks down will also have ramifications for the RSI’s trend.

The presence of the channel aligns with the possibility that the decrease is part of wave four. In an impulsive increase, the price often breaks out from the channel in wave three and then returns to validate it in wave four.

So, if the count is accurate, TRX will bounce inside its support and begin the fifth and final wave toward the all-time high of $0.180.

Conversely, a weekly close below the $0.107 horizontal support area will mean TRX is still correcting. Then, the price will likely fall to the channel’s support trend line at $0.095.

RSI and Wave Count Predict Reversal

Even though the TRX price has corrected for over two months, the RSI and wave count both predict the correction is coming to an end. The TRX price is likely to bounce from its current confluence of support level and begin an upward movement toward its all-time high soon.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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