Tron Price Prediction: TRX Bounces Up From 20-day SMA

Daily TRON TRX Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Tron price continues its pattern of bullish jump following two bearish consolidations.
  • The parabolic SAR is positive in the daily chart.
  • Between April 26 and April 30, the Tron price rose from $0.102 to $0.132, gaining almost $0.030 in its overall valuation. After struggling to cross the 20-day SMA, the buyers took control and crossed this level and reached $0.133.

    Tron Price Moves Along Horizontally

    Looking at the Tron price daily chart, we can see that it has followed the pattern of two bearish sessions preceding a bullish jump. The parabolic SAR has shifted from negative to positive, which shows that market sentiment is bullish. The relative strength index (RSI) tells us that TRX may jump some more before RSI enters the overbought zone.

    Image: TRX/USD daily

    TRX/USD daily chart 050421

    In the 4-hour Tron price chart, TRX bounced up from the 20-bar SMA and reached new heights. The MACD here has reversed from bearish to bullish. The TD sequential detector shows that TRX still has at least 4 sessions (16 hours) in this timeframe before it flashes green nine candlestick.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 050421

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely aim to take down the $0.146 resistance barrier.

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