Tron Price Prediction: TRX Looks To Break Below Bollinger band
Daily TRON TRX Technical Analysis
- Tron price volatility is on the rise in the daily chart.
- The MACD shows sustained bearish market momentum.
Since May 7, the Tron price has crashed from $0.15 to $0.10, losing almost $0.40 in its overall valuation. During this downward surge, TRX managed to flip the 20-day and 50-day SMAs from support to resistance. Let’s take a closer look with technical analysis.
Tron Price Sits On Lower Bollinger Band
Tron price is currently sitting on top of the lower Bollinger Band. The Band has started to expand, which shows increasing price volatility. The MACD shows sustained bearish market momentum so a further drop could be possible. However, that will make TRX oversold and could trigger a bullish resurgence.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX faced resistance at the 20-bar SMA and crashed towards the $0.01 support line. The relative strength index is on the verge of entering the oversold zone. The parabolic SAR has reversed from bullish to bearish.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
Now that the Tron price is hovering around the $0.10 psychological level, a further break is definitely in the cards. However, the buyers will soon pick it up sine TRX is already undervalued.