Tron Price Analysis: TRX Buyers Struggle To Cross 20-day SMA

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
2 Min Read
  • The Tron price has had two bearish sessions after a bullish Friday.
    • The parabolic SAR is positive in the daily chart and negative in the 4-hour.

     

    Between April 26 and April 30, the Tron price rose from $0.102 to $0.132, gaining almost $0.030 in its overall valuation. However, following this rise, TRX has been hovering around $0.128. Let’s take a closer look with technical analysis.

     

    Tron Price Moves Along Horizontally

    Following a high bullish Friday, the Tron price encountered solid resistance at the 20-day SMA. Due to this obstacle, TRX has been hovering along horizontally around $0.128. However, despite these two bearish sessions, overall sentiment for TRX in this timeframe looks positive. Firstly, the MACD shows decreasing bearish momentum, and secondly, the parabolic SAR has shifted from negative to positive.

    Image: TRX/USD daily

    trx/usd daily chart 050321

    In the 4-hour Tron price chart, TRX is sitting on top of the 20-bar SMA, which has prevented further downtrend. The parabolic SAR, in this timeframe has unfortunately reversed from positive to negative.

    Image: TRX/USD 4-hour

    trx/usd 4-hour chart 050321

    Tron To Soon Launch Apollo - A  Cross-Chain Scaling Solution

    Justin Sun, the founder and CEO of Tron, recently announced plans of launching a new cross-chain scaling solution called Apollo. According to Justin Sun, Apollo will enable seamless transfer of data and assets across multiple chains securely. 

    "🎉#TRON is excited to announce the upcoming launch of #TRON Apollo: Interconnecting Blockchains🚀

    👉#TRON's official cross-chain scaling solution, enabling data and asset transfer across multiple chains, with security, openness, and unlimited scalability

    🚀More coming soon"

     

    The team at the Tron Foundation further reemphasized Justin Sun’s announcement by stating that Apollo will offer openness and unlimited scalability.

    We are excited to be adding #TRON. Apollo to the rapidly growing #TRON ecosystem! Our official cross-chain solution will enable data and asset transfer across multiple chains, which features security, openness, and unlimited scalability. 

    As mentioned by Justin Sun and the Tron Foundation, the exact details of Apollo will be revealed shortly.

     

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely keep hugging under the 20-day SMA around the $0.128-mark.

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