TRX Faces Potential 10% Price Correction as Indicators Point to Overbought Conditions

TRON (TRX) price remains in an overbought zone based on the Relative Strength Index (RSI), hinting at potential volatility ahead.

There has been significant growth recently in the amount of TRX coins held by short-term "traders", typically signaling impending price volatility.

The long-term and short-term Exponential Moving Averages (EMAs) have formed a "death cross", suggesting declining price momentum.

According to the In/Out of the Money Around Price (IOMAP) chart, TRX has weak support at $0.127 and faces strong resistance at $0.1318 and $0.135.

The analysis suggests TRX may be due for a price correction around 10% if support levels fail to hold.