Tron Price Analysis: TRX Bulls Reclaim $0.065 Psychological Level

Daily TRON TRX Price Forecast

Last Updated August 5th 2021
2 Min Read
  • Tron price makes a charge after horizontal trend.
  • TRX flashes multiple buys signals in the 1-day and 4-hour timeframes.

The Tron price was trending horizontally around $0.063 over the last three days with the buyers and sellers engaging in a tug-of-war. However, it seems like the buyers have retaken control and pushed TRX up to $0.0654. Previously, Tron dropped from $0.067 to $0.050 between July 5 and July 20. During the drop, the sellers flipped 20-day SMA and parabolic SAR to bearish.

Tron Price Buyers Start Their Charge

With the recent surge to $0.0654, it seems like the Tron price is on an upwards charge. Before the aforementioned horizontal movement, Tron had jumped from $0.050 to $0.063 between July 21 and July 30. During this jump, TRX managed to:

  • Flip the 20-day and 50-day SMAs from resistance to support.
  • Reverse the parabolic SAR from negative to positive.
  • Flip MACD from bearish to bullish.

Image: TRX/USD daily

TRX/USD daily chart 080521

In the 4-hour Tron price chart, we can see that the latest session has broken above the 20-bar SMA, Base line, and Conversion line. The Ichimoku indicator shows that the current market sentiment is positive, while the relative strength index (RSI) tells us that TRX could go up some more.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 080521

Tron Price Is Expected To Reach These Levels

If the Tron price carries on with its upward momentum, it will probably reach the $0.070 psychological level.

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