Tron Price Analysis: TRX Once Again Challenges Crucial Level
Daily TRON TRX Price Forecast
- Tron price faces key resistance at 200-day SMA.
- TRX flips parabolic SAR to positive in the 4-hour chart.
Between July 21 to August 7, the Tron price jumped from $0.050 to $0.075 – gaining almost $0.025 in its overall valuation. During this jump, TRX managed to:
- Flip the 20-day, 50-day, and 200-day SMAs from resistance to support.
- Reverse the parabolic SAR from negative to positive.
Following this surge, the market faced a bearish correction on Sunday, wherein the price dropped slightly to the $0.072 support wall.
Tron Price Buyers Retake Control
The buyers roared back this Monday and pushed the Tron Price up to $0.074. The relative strength index (RSI) is hovering at the edge of the overbought zone. A slight increase will make Tron overpriced. The 200-day SMA provides strong resistance on the upside.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX has flashed two buy signals:
- Flipped the 20-bar SMA from support to resistance.
- Reversed the parabolic SAR from negative to positive.
The MACD indicates sustained bearish market momentum.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
After crossing the $0.075 psychological level and 200-day SMA, the Tron price has to take down the $0.080 line.