Tron Price Analysis: TRX May Post Flag And Pole Pattern

Daily TRON TRX Price Forecast

1 Min Read
Last Updated July 23rd 2021
  • Over the last five days Tron price has been hovering between $0.11 to $0.127.
  • The Upside for TRX lies at $0.215.
  • Over the last seven days, the Tron price has faced two strong resistance barriers at $0.136 and $0.127. During the last five days, TRX has been hovering between the $0.127 resistance barrier and the $0.11 support wall. Let’s take a close look with technical analysis.

    Tron Price Has Upside At $0.215

    As things stand, the Tron price has formed the flag-and-pole pattern as TRX keeps consolidating. The relative strength index (RSI) is creeping along the edge of the overbought zone. As per technical analysis, the upper price target for Tron lies at $0.215, if the bullish flag-and-pole pattern gets fulfilled.

    Image: TRX/USD daily

    The Tron price failed at the $0.127 resistance barrier and dropped to $0.19, finding support on the 20-day and 50-day SMAs. However, the MACD shows that the market momentum is negative, so a further drop maybe in the cards.

    Image: TRX/USD 4-hour

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely struggle to break above the $1.20 mark. However, if it does manage to do so and fulfill the flag-and-pole, the upside lies at $0.215.

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