Tron Price Analysis: TRX Look To Break Past The $0.146 Resistance Barrier

Daily TRON TRX Price Forecast

2 Min Read
Last Updated July 23rd 2021
  • The Bollinger Band shows increasing Tron price volatility.
  • The 4-hour chart has reversed parabolic SAR from negative to positive.
  • Between April 26 and May 6, the Tron price rose from $0.102 to $0.152, gaining almost $0.050 in its overall valuation. Following this charge, the price faced a brief drop and has corrected itself around $0.145. As it stands, TRX is stuck under a strong resistance barrier.

    Tron Price Bollinger Band Expanding

    As things stand, the Tron price is settled under the $0.146 resistance barrier. However, there are two signs which show us that TRX may break beyond this line. The expanding Bollinger Bands shows increasing market volatility, which the MACD shows sustained bullish market momentum.

    Image: TRX/USD daily

    Tron TRX Daily Chart

    Our bullish outlook is further validated by the 4-hour Tron price chart. We can see that despite failing to break past the 20-bar SMA, TRX has managed to flip the parabolic SAR from negative to positive.

    Image: TRX/USD 4-hour

    Tron TRX 4-Hour Chart

    PancakeSwap’s Syrup Pool Adds TRON, WINkLink, and BitTorrent

    PancakeSwap recently announced a partnership with the TRON blockchain. Three of the most famous cryptocurrencies are now supported on PancakeSwap pools.

    CAKE holders can now stake their tokens to earn TRON, BTT, and WINK tokens. The new addition may come with considerable attraction from holders and traders in both blockchains, TRON and BSC. 

    PancakeSwap runs on the Binance Smart Chain (BSC) blockchain. Many traders and investors have locked assets in PancakseSwap to earn rewards in various tokens. CAKE token has experienced a significant price rise in the last month, and now the new additions to the Syrup Pools are likely to bring more opportunities for the DeFi platform.

    TRON blockchain is another active platform in the DeFi community. There are currently many projects running on TRON that aim to disrupt the current state of the blockchain industry. BitTorrent is one of the most famous ones that went on headlines after Justin Sun bought the platform. Currently, the BTT token is very popular, and the team behind it is trying to expand the reach. BTT is one of the newest tokens added to PancakeSwap. 

    PancakeSwap also comes with the opportunity to provide liquidity for the farms in the platform. According to PancakeSwap, LPs can provide a pair of tokens to pools and earn CAKE tokens. TRX-BNB, WIN-BNB, and BTT-BNB are the available pairs. All of them provide 2x CAKE rewards for the first 48 hours and 1x CAKE rewards after that.

    PancakeSwap also added that finalizing the new addition needs votes from the CAKE community. PancakeSwap has a decentralized governing system, and every decision is made by vote from the governing token holders. 

    Tron Price Is Expected To Reach These Levels

    If the Tron price breaks past the $0.146 resistance barrier it will reach the upper Bollinger Band ($0.157).

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