Technical analysis by alfredwhitexxx about Symbol TRX on 6/8/2025

TRX is currently in the multi-leg Wave 4 consolidation, a classic corrective phase before the anticipated final Wave 5 impulsive.This consolidation phase is healthy within the larger trend, allowing for overbought to fade before the next move higher.A clear breakout above the $0.28–$0.30 range would affirm the Elliott Wave forecast, targeting $0.30 → $0.31 → $0.33. A confirmed close above $0.30 would unequivocally solidify the Wave 5 scenario, paving the way for these upside objectives.The 81.77 monthly RSI suggests an overbought market, supporting the anticipation of continuous consolidation within Wave 4, potentially retracing back to the $0.25–$0.27 support zone before resuming higher.Long-term trend indicators are firmly bullish, with the Monthly EMA (20) at $0.1911 and SMA (20) at $0.1769, both considerably below current price action, confirming unbroken upward momentum within the greater timeframes.So while short-term price action suggests consolidation, technical stance favors continuation to the higher side, and a breakout above $0.30 would signal Wave 5's beginning and continued momentum towards $0.33.