Tron Price Prediction: TRX Struggles To Remain In The $0.080 Psychological Level

Daily TRON TRX Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • The 4-hour Tron price chart has charted a bullish cross.
  • TRX faces another major obstacle at the $0.092 resistance barrier.
  • Tron price managed to chart three straight bullish sessions in the daily chart, between May 24 and May 26, wherein it jumped from $0.063 to $0.081. Prior to that, the TRX has plunged from $0.15 to $0.063 from May 7 to May 23. Let’s take a closer look with technical analysis.

    Tron Price Dips Below $0.080

    The Tron price faced a slight bearish correction following these three bullish sessions. As such, TRX has dropped to $0.0798. Looking at the relative strength index, it is trending at the edge of the oversold zone. This tells us that the buyers definitely have the wiggle room to boost up the price.

    Image: TRX/USD daily

    TRX/USD daily chart 052821

    In the 4-hour Tron price chart, TRX is sitting on top of the 50-bar SMA. In this timeframe, Tron has flashed the following buy signals:

    1. The MACD indicates sustained bullish market momentum.
    2. The parabolic SAR is positive.
    3. The 20-bar SMA has crossed the 50-bar SMA to form a bullish cross.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 052821

    Tron Price Is Expected To Reach These Levels

    The Tron price will need to cross the $0.089 resistance barrier to hit the $0.1 psychological level.

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