Tron Price Analysis: The Buyers Attempt To Fight Back

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Tron price remains sandwiched between two crucial levels.
  • TRX flashed multiple buy signals in the 4-hour chart.
  • The Tron price met resistance at the 200-day SMA on June 30 and has since fallen from $0.068 to $0.060, flipping the 20-day SMA from support to resistance. Prior to this drop, TRX had climbed from $0.0507 to $0.068 between June 23 and June 29.  

    Bulls Attempts To Push Up The Tron Price

    The Tron price has been sandwiched between the 20-day SMA and the $0.06 support wall since July 8. Tron has flashed a buy signal in the form of a red-nine candlestick, however, the 20-day SMA has prevented any attempts of a bullish resurgence, so far. 

    Image: TRX/USD daily

    TRX/USD daily chart 071521

    In the 4-hour Tron price chart, TRX has jumped from $0.0572 to $0.060 with four straight bullish sessions. During this jump, Tron has flashed the following two buy signals:

    • The MACD indicates increasing bearish market momentum.
    • The parabolic SAR has flipped from negative to positive.

    Currently, the 20-bar SMA on the upside has prevented a further rise in valuation.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 071521

    Tron Price Is Expected To Reach These Levels

    The $0.060 support is extremely important for the Tron price. If this line holds strong, the buyers should be able to retouch the 20-day SMA.