Tron Price Analysis: TRX Goes Up Despite Flashing Sell Signal

Daily TRON TRX Price Forecast

Last Updated August 2nd 2021
1 Min Read
  • Tron price is no longer overvalued in the 4-hour chart.
  • MACD shows sustained bullish market momentum.

The Tron price has had 12 straight green sessions and is currently priced around $0.066. Prior to this rally, Tron had dropped from $0.067 to $0.050 between July 5 and July 20. Let’s see what happened after the buyers took control.

Tron Price Crosses Above 50-day SMA

The Tron pride had 12 straight bullish sessions, wherein it jumped from $0.050 to $0.066. During this climb, TRX flipped the 20-day and 50-day SMAs from resistance to support. This Saturday, Tron flashed a sell signal in the form of a green-nine candlestick but went up anyway. The MACD indicates that the current market sentiment is positive.

Image: TRX/USD daily

TRX/USD daily chart 080221

In the 4-hour Tron price chart, we can see that TRX has gone up from $0.060 to $0.066 since July 30. During this jump, Tron flips the 20-bar and 200-bar SMA from resistance to support. Along with that, TRX has pushed back inside the Bollinger Band and the RSI has returned below 70. Both these factors tell us that TRX is no longer overvalued.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 080221

Tron Price Is Expected To Reach These Levels

The Tron price needs to break above the 200-day SMA to reach the $0.075 psychological level.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.