Tron Price Prediction: TRX Faces Tremendous Resistance At $0.129

Daily TRON TRX Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Daily Tron price chart shows us that the RSI is on the verge of entering the overbought zone.
  • The 4-hour TRX chart is trending in an upward channel formation.
  • Over the last six days, the Tron price has bounced up from the $0.11 support line and is making a break for the $0.129 resistance line. However, it should be noted that the $0.129 barrier had stopped TRX the day before yesterday.

    Tron Price on the Verge of Being Overbought

    The Tron price reached an intraday high of $0.14 before it faced bearish correction. However, the relative strength index tells us that if TRX does conquer the $0.129 resistance, it will push the RSI into the overbought zone, which could trigger a bearish correction.

    Image: TRX/USD daily

    trx/usd daily chart 041321

    The 4-hour Tron price chart tells us that TRX is currently trending in an upward channel formation. It looks like TRX is currently on the way to $0.123 – the lower bound of the upward channel.

    Image: TRX/USD 4-hour

    trx/usd 4-hour chart 041321

    Tron Price Is Expected To Reach These Levels

    The Tron price is approaching $0.123 – the lower bound of the parallel channel. After that, it may bounce up and aim for the $0.129 resistance barrier again.

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