Tron Price Prediction: TRX Volatility Goes Down Following Bearish Correction

Daily TRON TRX Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • The Bollinger Band in the daily Tron price chart has started contracting.
  • The 4-hour chart has flashed multiple buy signals.
  • Between April 26 and May 5, the Tron price rose from $0.102 to $0.146, gaining almost $0.044 in its overall valuation. After struggling to cross the 20-day SMA, TRX finally managed to break through this Wednesday but met strong resistance.

    Tron Price Faces Resistance $0.146

    The Tron price dropped to $0.139 after failing to conquer the $0.146 resistance barrier. Interestingly, the Bollinger Band has started constricting which shows that price volatility is going down, so don’t expect any sudden movements. The relative strength index (RSI) has dipped back into the neutral zone.

    Image: TRX/USD daily

    TRX/USD daily chart 050721

    In the 4-hour Tron price had two bearish sessions after six straight bullish candlesticks. However, the overall sentiment is positive since:

    • The parabolic SAR has flipped from positive to negative.
    • The MACD shows increasing bearish market momentum. 

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 050721

    Tron Price Is Expected To Reach These Levels

    The Tron price will still need to take down the $0.145 resistance barrier and reach the $0.15 level.

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