Tron Price Analysis: TRX Has Three Bearish Sessions After Three Bullish Ones
Daily TRON TRX Price Forecast
- The 4-hour Tron price chart has charted a bullish cross.
- TRX faces another major obstacle at the $0.092 resistance barrier.
On May 24, the buyers took control of the Tron price and pushed TRX up from $0.063 to $0.083 over the next three days. Following this bullish rise, the sellers then took control for the next three days, dropping Tron to $0.0705
Tron Price Faces Crucial Resistance At $0.090
The Tron price is slumping towards the 200-day SMA. The MACD shows sustained bearish market momentum so this downtrend is likely going to happen. However, if the buyers do take back control, they will need to push Tron up to the $0.090 resistance barrier to flip the parabolic SAR from negative to positive.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX met resistance at the 50-bar SMA on May 26 and has continued to fail to rise above this level. Over the last three days, TRX has flipped the 20-bar SMA from support to resistance. As of now, Tron is stuck to the lower Bollinger Band.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price will likely drop to the 200-day SMA ($0.062) and break down even further if the buyers don’t take back control.