Tron Price Prediction: TRX Faces Tremendous Resistance At $0.129
Daily TRON TRX Technical Analysis
- 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
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
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.