Tron Price Analysis: TRX Breaks Below Key Level
Daily TRON TRX Price Forecast
- 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
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 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.