Tron Price Analysis: TRX Buyers Roar Back
Daily TRON TRX Price Forecast
- Tron price 4-hour chart shows 5 straight bullish sessions.
- The 20-day SMA has been flipped from resistance to support.
- The parabolic SAR has flipped from positive to negative.
- The MACD shows increasing bearish market momentum.
- The 20-bar, 50-bar and 200-bar SMAs have reversed from support to resistance.
- TRX has charted five straight bullish candlesticks.
Between April 26 and April 30, the Tron price rose from $0.102 to $0.132, gaining almost $0.030 in its overall valuation. After struggling to cross the 20-day SMA, TRX has been hovering between $0.132 to $0.126 from May 1 to May 3, before dropping to $1.24 this Tuesday. However, the buyers soon came roaring back into the market.
Tron Price Flips 20-day SMA From Resistance To Support
The Tron buyers took full control of the price as it jumped from $0.124 to $0.136. In the process, TRX flipped the 20-day SMA from resistance to support. The relative strength index (RSI) tells us that TRX still has room to grow before it becomes overbought.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX has flashed multiple negative signals:
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price will need to take down the $0.145 resistance barrier and reach the $0.15 level.