Tron Price Prediction: TRX Crashes Towards The $0.05 Psychological Level

Daily TRON TRX Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • Tron price is oversold in the 4-hour chart.
  • The MACD in the daily chart has reversed from bullish to bearish.
  • Between June 4 and June 20, the Tron price has crashed from $0.082 to $0.068 – losing almost $0.014 in its overall valuation. Following this, Tron broke below the 200-day SMA and dropped to $0.0526.

    Tron Price Drops A Little Further

    This Tuesday, the Tron price has dropped a little further to $0.052. Due to this crash, the MACD has reversed from bullish to bearish. The 200-day SMA is on course to cross over the 20-day SMA to form a bearish cross.

    Image: TRX/USD daily

    TRX/USD daily chart 062321

    In the four-hour Tron price chart, TRX has flashed a major sell signal with the relative strength index (RSI) hovering along in the overbought zone, which shows that the asset is currently oversold. The $0.049 support wall has stayed strong to prevent a futher drop.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 062321

    Tron Price Is Expected To Reach These Levels

    As things stand, the Tron price will probably retest the $0.049 support wall and break below the $0.050 psychological level.

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