TRON Price Prediction: Can TRX trigger 30% breakout rally after multiple rejections?

TRON (TRX) price is attempting to overcome a resistance level for the third time this year. Another failure could prove costly for TRX holders, but a breakout could trigger a massive uptrend. 

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TRON price faces tough decision

TRON price has created a range, extending from $0.0466 to $0.0862 in late May and early June 2022. Since then, TRX has attempted to overcome the range high twice in June and July 2023, but failed to do so. Rejection has led to steep correction both times. 

Now, TRON price is approaching the $0.0862 level again with the Relative Strength Index (RSI) hovering just below the overbought level. The Awesome Oscillator (AO) shows bears’ failed attempt to take over as it hovers above the zero level.

Since both indicators are bullish, investors looking to short TRX should be cautious. Instead, traders need to wait for TRON price to make its move above $0.0862. A decisive flip of this hurdle into a support floor could set the stage for it to trigger a 30% rally to $0.1124 hurdle.

TRX/USDT 3-day chart

On the other hand, if TRON price faces rejection with RSI and AO producing divergence, it would signal waning bullish momentum. In such a case, TRX could eye the sell-side liquidity resting below August 17, June 9 and March 11 swing lows at $0.0718, $0.0644 and $0.0548, respectively.

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