Tron Technical Analysis: TRX Bulls In Control For Eight Straight Sessions

Daily TRON TRX Price Forecast

Last Updated July 29th 2021
1 Min Read
  • 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

TRX/USD daily chart 072921

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

TRX/USD 4-hour chart 072921

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.

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