Tron Price Analysis: TRX Once Again Challenges Crucial Level

Daily TRON TRX Price Forecast

Last Updated August 10th 2021
1 Min Read
  • 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

TRX/USD daily chart 081021

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

TRX/USD 4-hour chart 081021

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.

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