Tron Price Analysis: TRX Flashes Bulls Red-NIne Candlestick
Daily TRON TRX Price Forecast
- Tron price trapped below the crucial level in the daily chart.
- TRX has crossed 20-bar SMA in the 4-hour chart.
On June 30, the Tron price met resistance at the 50-day SMA and has dropped to $0.0615. In the process, TRX managed to flip the 20-day SMA from support to resistance. Prior to this, Tron climbed from $0.0507 to $0.068 between June 23 and June 29. As things stand, TRX has been sandwiched between the 20-day SMA and the $0.060 support.
Tron Price Flashes Buy Signal
According to the relative strength index (RSI), the buyers and sellers are canceling each other out. However, TRX has also flashed the red-nine candlestick in the TD sequential detector. The upside is covered by the 20-day, 50-day, and 200-day SMAs.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX has met continuous resistance at the 20-bar SMA before it finally managed to flip it from resistance to support. The MACD shows sustained bullish momentum. The parabolic SAR has reversed from positive to negative.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
For our bullish thesis to hold strong, the Tron price needs to conquer the 20-day and 50-day SMA and reach the $0.070 psychological level.