Tron Technical Analysis: TRX Charts Death Cross Pattern
Daily Tron TRX Price Analysis
- Tron price volatility is low as per Bollinger Band.
- The 4-hour chart has turned bullish.
The Tron price climbed from $0.0507 to $0.068 between June 23 and June 29, which flipped the 20-day SMA from resistance to support. Following this jump, TRX has entered a horizontal and narrow range.
Tron Price Buyers and Sellers Cancelling Each Other Out
The Tron price has been trending horizontally around $0.065 between the 200-day and 20-day SMAs. The Bollinger Band indicates that the price volatility is really low. The relative strength index (RSI) is hovering horizontally in the neutral zone, which indicates that the buyers and sellers are canceling each other out. Do note that the 200-day SMA has crossed the 50-day SMA to chart the death cross – an immensely bearish pattern.
Image: TRX/USD daily
In the 4-hour Tron price chart, TRX had earlier flipped the parabolic SAR from negative to positive. However, the 20-bar and 50-bar SMAs have prevented Tron from going up any further. The MACD has reversed from bearish to bullish.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price will continue to hover horizontally between the 20-bar and 50-bar SMA at around $0.067.