Tron Price Analysis: TRX Remains Stuck Below 20-day SMA
Daily TRON TRX Price Forecast
- Tron price volatility remains low.
- TRX in the 4-hour timeframe stuck between 20-bar and 50-bar SMAs.
Since May 22, the Tron price has been trending between $0.0826 resistance and the 200-day SMA. On June 4, TRX encountered the 20-day SMA and has since crashed from $0.0826 to $0.0723.
Tron Price Volatility Has Gone Down
The Tron price has been trending horizontally around $0.072 over the last three days and is stuck below the 20-day SMA. The Bollinger band has narrowed down extremely to show decreasing TRX price volatility. The MACD indicates sustained bullish momentum.
Image: TRX/USD daily
Over the last two sessions in the 4-hour chart, the Tron price has met strong resistance at the 50-bar SMA and dropped from $0.077 to $0.73. As things stand, TRX is sandwiched between the 20-bar and 50-bar SMAs. The relative strength index (RSI) is hovering in the neutral zone as the buyers and sellers are canceling each other.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
Unless the Tron price flips the 20-day SMA from resistance to support, its overall narrative will remain negative.