Tron Price Prediction: TRX Keeps Hovering Between Crucial Levels
Daily TRON TRX Technical Analysis
- Tron price has flashed multiple sell signals in the 4-hour chart.
- The price volatility in the daily timeframe is decreasing.
- Reversing the MACD from green to red.
- Flipping the parabolic SAR from positive to negative.
- Changing the 20-bar from support to resistance.
The Tron price climbed up from the $0.0507 support wall and climbed to $0.066 on June 23 and June 24. Following this jump, Tron met resistance at the 200-day SMA and has fallen to $0.0615 on June 25. Since then, TRX has progressively climbed to $0.068 till June 30 before encountering resistance at the 200-day SMA again.
Tron Price Hovers Horizontally Between Key Levels
Since July 1, the Tron price has been sandwiched between the 200-day and 20-day SMAs, hovering around $0.066. Due to this horizontal movement, the Bollinger Band had started narrowing to indicate decreasing price volatility. The relative strength index is moving horizontally to show that the buyers and sellers are canceling each other out.
Image: TRX/USD daily
In the 4-hour Tron chart, TRX has had three straight bearish sessions during which it dropped from $0.068 to $0.066. During this fall, Tron managed to flash three sell signals:
As things stand, the 50-bar SMA is protecting the downside.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price will likely keep hovering horizontally between the 20-bar and 50-bar SMA at around $0.067.