Tron Price Prediction: TRX Stuck Below The 20-day and 200-day SMAs
Daily TRON TRX Technical Analysis
- Tron price needs to break above 20-day and 200-day SMAs to reverse parabolic SAR.
- The MACD in the 4-hour chart has reversed from bearish to bullish.
The Tron price crashed by $0.03, going from $0.082 to $0.0512 between June 4 and June 22. During this drop, TRX has reversed the 200-day SMA from support to resistance, having met continuous resistance at the 20-day SMA.
Tron Price Stuck Below Heavy Resistance Barriers
On June 23 and June 24, the Tron price jumped from the $0.0507 support wall to $0.066. Following that, TRX met resistance at the confluence of the 20-day and 200-day SMAs and dropped to $0.0627. The relative strength index (RSI) shows that TRX still has a lot of room to grow before getting overpriced.
Image: TRX/USD daily
The Tron price jumped up from $0.06 to $0.062 and flipped the 20-bar SMA in the 4-hour chart from resistance to support, plus reversed the MACD from bearish to bullish. However, the buyers have now faced major resistance at the 20-bar SMA and the Bollinger Band has started narrowing to show decreasing price volatility.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price needs to break above the 20-bar SMA in the 4-hour chart and then flip the 20-day and 200-day SMAs from resistance to support. When it does that, TRX should reverse the parabolic SAR from negative to positive.