0

Tron Price Analysis: TRX Breaks Below Key Level

Daily TRON TRX Price Forecast

1 Min Read
Last Updated April 23rd 2021
  • Tron price has flipped 20-day SMA from support to resistance.
  • The MACD shows increasing bearish momentum.

Around a week back, on April 16, the Tron price crashed from $0.165 to $0.127 - losing almost $0.038 in its overall valuation. During this downward move, TRX managed to flip the 20-day SMA from support to resistance.

Tron Price Flashes Multiple Sell Signals

During this $0.038 drop in valuation, the Tron price managed to flash two separate sell signals – the increasing bearish momentum of the MACD and the reversal of the parabolic SAR from positive to negative.

Image: TRX/USD daily

Tron TRX Daily Chart

In the 4-hour Tron price chart, TRX has found consistent resistance at the 20-day SMA. The TD sequential detector was on the verge of flashing a buy signal in the form of a red-nine candlestick, but has stopped from doing so.

Image: TRX/USD 4-hour

Tron TRX 4-Hour Chart

Tron Price Is Expected To Reach These Levels

The Tron price will need to flip the 20-day SMA from resistance to support to re-enter the $0.13 psychological level.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.