Tron Price Prediction: TRX Creeps Back Above $0.055

Daily TRON TRX Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • TRX bounced up from the $0.055 support wall.
  • Tron price flashed multiple sell signals in the 4-hour chart.
  • This Saturday, the Tron price has bounced up from the $0.055 support wall and has had two straight bullish sessions, and is presently hovering at $0.056. Prior to this, TRX had met resistance at the 200-day SMA and dropped from $0.068 to the $0.55 support wall. In the process, it managed to flip the 20-day SMA from support to resistance.

    Tron Price Bounces Up From Healthy Support

    During the previous Tron price drop, the relative strength index (RSI) had taken a dip towards the edge of the oversold zone. On the upside – 20-day, 50-day, and 200-day SMAs are acting as immediate resistance barriers.

    Image: TRX/USD daily

    TRX/USD daily chart 071921

    In the 4-hour Tron price chart, TRX has flashed two buy signals.

    • The MACD shows increasing bullish market momentum.
    • The parabolic SAR has flipped from negative to positive.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 071921

    Tron Price Is Expected To Reach These Levels

    The buyers will need to push the Tron up to the 20-day SMA, which will take TRX to the $0.060 psychological level.