Tron Technical Analysis: TRX Bulls In Control For Eight Straight Sessions
Daily TRON TRX Price Forecast
- TRX is currently sitting under the 50-day SMA.
- Tron price has room to grow, as per the daily chart.
The Tron price has been under complete bullish control for eight straight days. Prior to that, Tron had dropped from $0.067 to $0.050 between July 5 and July 20. Let’s take a closer look with technical analysis.
Tron Price On The Verge Of Flipping Parabolic SAR
Over the last eight days, the Tron price jumped from $0.50 to $0.61 – re-entering the $0.60 psychological level. During this jump, Tron flipped the 20-day SMA from resistance to support. The relative strength index (RSI) indicates that TRX could rise some more before getting overpriced. As of now, Tron is hovering below the 50-day SMA and on the verge of flipping parabolic SAR from negative to positive.
Image: TRX/USD daily
In the 4-hour Tron price chart, we can see that TRX down has triggered the following buy signals:
- Flipping the 200-bar and 20-bar SMAs from resistance to support.
- Reverse the parabolic SAR from negative to positive.
- Flip the MACD from red to green.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price has to recoup and conquer the 50-day SMA to continue the upward surge. Crossing this level will successfully reverse the parabolic SAR from negative to positive.