Tron Price Prediction: TRX Trends Horizontally Around $0.064

Daily TRON TRX Technical Analysis

Last Updated August 4th 2021
1 Min Read
  • Tron price sits on top of 50-day SMA.
  • TRX flashes multiple buys signals in the 4-hour timeframe.

The Tron price is presently trending horizontally around $0.064 above the 50-day SMA. Previously, Tron dropped from $0.067 to $0.050 between July 5 and July 20. During the drop, the sellers flipped 20-day SMA and parabolic SAR to bearish.

Tron Price Moves Sluggishly

The Tron price has been trending horizontally around $0.064 over the past three days. Previously, TRX jumped from $0.050 to $0.063 between July 21 and July 30. During this jump, TRX managed to:

  • Flip the 20-day and 50-day SMAs from resistance to support.
  • Reverse the parabolic SAR from negative to positive.
  • Flip MACD from bearish to bullish.

Image: TRX/USD daily

TRX/USD daily chart 080421

In the 4-hour Tron price chart, we can see that TRX has found healthy support at the base line of the Ichimoku indicator after flipping the 20-bar SMA from support to resistance. Both the Ichimoku indicator and Elliott Wave Oscillator indicate positive market sentiment.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 080421

Tron Price Is Expected To Reach These Levels

The Tron price will probably keep trending above the 50-day SMA for a couple of days around $0.064.

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