Tron Price Prediction: TRX Breaks Below The 20-day SMA
Daily TRON TRX Technical Analysis
- Tron price could have three more bearish sessions before charting red-nine.
- TRX has flashed multiple sell signals in the 4-hour chart.
Between June 23 and June 29, the Tron price climbed from $0.0507 to $0.068, flipping the 20-day SMA from resistance to support. Following this jump, TRX entered a horizontal and narrow range before going down.
Tron Price Breaks Below Crucial Level
Between June 30 and July 4, the Tron price had been hovering horizontally between $0.067 resistance and the 20-day SMA support. Since July 5, TRX dropped from $0.067 to $0.0608, flipping the 20-day SMA from support to resistance. As per the TD detector, TRX will chart three more bearish sessions before flashing the red-nine candlestick.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX met resistance at the 50-bar SMA and crashed from $0.0657 to $0.0611. In the process, it managed to flip both the 20-bar SMA and Parabolic SAR from bearish to bullish.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price may potentially drop to the $0.0507 support wall if this bearish dominance continues.