Tron Price Prediction: $0.060 Support Holds Strong Under Pressure

Daily TRON TRX Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Tron price couldn’t capitalize after flashing a buy signal.
  • TRX is still stuck under the 20-day SMA.
  • Tron price has dropped from $0.068 to $0.060 after it met resistance at the 200-day SMA on June 30. During this drop, TRX flipped the 20-day SMA from support to resistance. Before this drop, Tron had climbed from $0.0507 to $0.068 between June 23 and June 29.  

    Tron Price Meet Continuous Resistance At 20-day SMA

    Since July 8, the Tron price has been stuck between the 20-day SMA and the $0.06 support wall. Looking at the daily chart, TRX flashed a buy signal in the form of a red-nine candlestick in the TD sequential detector. However, Tron wasn’t able to take full advantage of this with the upside blocked by several robust resistance barriers.

    Image: TRX/USD daily

    TRX/USD daily chart 071421

    In the 4-hour Tron price chart, TRX has flashed two sell signals:

    • The MACD indicates increasing bearish market momentum.
    • The parabolic SAR has flipped from negative to positive.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 071421

    Tron Price Is Expected To Reach These Levels

    The $0.060 support is extremely important for the Tron price. If this line holds strong, the buyers should be able to retouch the 20-day SMA.