Tron Price Prediction: TRX Still Struggling To Break Above 20-day SMA
Daily TRON TRX Technical Analysis
- Tron price trends horizontally in the 4-hour timeframe.
- MACD shows decreasing market momentum.
Between April 16 and April 25, the Tron price dropped from $0.165 to $0.10 - losing $0.065 in its overall valuation. During this downward movement, Tron bears managed to reverse the 20-day SMA from support to resistance, gaining a very crucial level in the process.
The Tron Price Needs To Cross Above 20-day SMA
Over the last two days, the Tron price jumped from $0.10 to $0.126 as the bulls stormed back in. However, TRX faced stiff resistance at the 20-day SMA, which pushed it down to $0.122. The MACD shows decreasing bearish momentum so the buyers may continue to remain in control.
Image: TRX/USD daily
Now, looking at the 4-hour Tron price chart, we can see that TRX has been trending horizontally between $0.126 and $0.12 for the last nine sessions. The 20-bar SMA has crossed over both the 50-bar and 200-bar SMAs to form multiple bullish crosses. The Bollinger Band has narrowed to indicate decreasing price volatility.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
If the Tron price overcomes the 20-day SMA, it will reach the $0.146 resistance barrier. The 20-bar, 50-bar, and 200-bar SMAs in the 4-hour timeframe protects the downside.