Tron Technical Analysis: TRX Crash After Dropping Below Two Key Levels
Daily Tron TRX Price Analysis
- Tron price has dropped from $0.152 to $0.115 between May 7 and May 17.
- The 4-hour chart has reversed the parabolic SAR from positive to negative.
Between May 7 and May 17 the Tron price has crashed from $0.15 to $0.115. During this downward surge, TRX managed to flip the 20-day and 50-day SMAs from support to resistance. Plus, the parabolic SAR was reversed from bullish to bearish. Let’s take a closer look with technical analysis.
Tron Price Crashes Down
As things stand, the Tron price is crashing towards the $0.11 support line. By flipping 20-day and 50-day SMAs, TRX has gained two strong resistance levels. On the downside, a robust support line lies at $0.11. The RSI shows that TRX could drop some more before it gets oversold.
Image: TRX/USD daily
In the four-hour Tron price chart, TRX has a pretty robust resistance barrier at $0.132, which sees a confluence of the 50-bar and 200-bar SMAs. In fact, the 200-bar SMA has crossed over the 50-bar SMA to form the bearish cross, so a further drop could be in the cards. The 20-bar SMA provides immediate resistance which has prevented TRX from going up. The MACD shows sustained bearish momentum.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
As things stand, the $0.11 support is particularly important for Tron price. Any break below this line will break TRX below the $0.10 psychological level.