Tron Price Analysis: TRX Fails To Cross Over The 20-day SMA
Daily TRON TRX Price Forecast
- Tron price is currently hovering between the 20-day and 200-day SMAs.
- 50-bar SMA has stopped downflow in the 4-hour timeframe.
The Tron price has crashed from $0.0826 to $0.070 between June 4 and June 7, having encountered resistance at the 20-day SMA. Since then, TRX has been pretty much trending horizontally. Let’s take a close look with technical analysis.
Tron Price Stuck Between Crucial Levels
Since June 7, the Tron price has been sandwiched between the 20-day and 50-day SMAs. Over the last four days, TRX managed to flip the parabolic SAR from positive to negative. The relative strength index still has some room to go before TRX becomes oversold.
Image: TRX/USD daily
In the four-hour Tron price chart, we can see that its downward trend has been stemmed by the 50-day SMA. The MACD shows sustained bullish market momentum so a further upward climb is in the cards.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
As things stand, the Tron price will probably keep hovering between the 20-day and 200-day SMAs. TRX will probably keep trending around $0.070.