Tron Price Analysis: TRX Remains Stuck Below 20-day SMA

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • 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

    TRX/USD daily chart 061121

    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

    TRX/USD 4-hour chart 061121

    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.

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