Tron Price Analysis: TRX Buyers Storm Back With Two Straight Bullish Days
Daily TRON TRX Price Forecast
- TRX found healthy support at the $0.050 line.
- Tron price has flipped parabolic SAR in the 4-hour time frame.
- TRX has flipped the 20-bar SMA from resistance to support.
- The parabolic SAR has been reversed from negative to positive.
The Tron price crashed from $0.067 to $0.050 between July 5 and July 20, losing almost $0.020 in its overall valuation. During this drop, TRX reversed the parabolic SAR from positive to negative. Along with that, Tron had flipped the 20-day SMA from support to resistance
Buyers In Control Of Tron Price For Two Straight Days
The buyers found important support at the $0.050 support wall, and have pushed the Tron price up to $0.054 over the last two days. The Bollinger Band has also started narrowing to indicate that volatility is going down. The MACD is on the verge of reversing from red to green, which is a very positive sign.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX has flashed three buy signals.
The 20-bar SMA has already prevented a further downtrend. However, the 50-bar SMA is currently acting as a line of resistance.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price will need to reach $0.060 to flip the 20-day SMA from resistance to support. This move will help reverse the overall bearish trend.