OriginTrail’s TRAC token added another 15% to its recent gains, pushing prices back to levels last seen in early June. The move follows a breakout from a long descending resistance line on the daily chart. Traders are now watching whether the asset can continue upward toward $0.49, the point where that downward line originally began.
A breakout like this often opens the door to a measured move higher. That doesn’t mean the rally is guaranteed, though. Markets can easily stall or retest the breakout level before doing anything else.
Bullish signals on the chart
The daily chart is showing a few supportive indicators. The moving averages are about to form a bullish crossover, with the 20 SMA set to move above the 50 SMA. Historically, that sort of setup has tended to appear before rallies, but it’s more of a confirmation tool than a crystal ball.
The Balance of Power indicator also supports the current price action. BOP was reading 0.35 at press time, which means buyers still have more strength than sellers. But it’s worth noting that this reading has dropped from 0.67 on August 21. Buyer strength has declined by nearly half, so the momentum may not be as strong as it looks.
Volume and attention are picking up
Volume data shows a clear spike. Trading volume rose by 580% over the last 24 hours, with roughly $35 million worth of TRAC changing hands. When price goes up alongside rising volume, it usually signals that buyers are serious about pushing the asset higher. If volume starts to fade, the rally could lose its footing.
There’s also been a small increase in mindshare. Social media posts mentioning TRAC rose by 1.37%, reaching around 1,370 posts. That’s not a huge shift, but growing attention during a rally can sometimes encourage more traders to get involved.
Traders remain confident, for now
Community sentiment data is clearly bullish. Based on votes from 13,800 traders, roughly 83% expect TRAC to keep its upward momentum. That’s a strong majority, but sentiment-based readings can change quickly. A few bad candles or a broader market downturn could flip the mood just as fast.
Overall, TRAC has put together a solid technical picture. The breakout, the crossover setup, and the jump in volume all point to further upside. Still, the drop in buyer strength and the potential for a sentiment shift are reasons to stay cautious. For now, the rally seems to have room to run, but traders should keep an eye on volume and price action in the coming sessions.
