Tron Technical Analysis: TRX Drops Below $0.060

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • The MACD has reversed from bullish to bearish.
  • Tron price flashed multiple sell signals in the 4-hour chart.
  • The Tron price has dropped below the $0.060 psychological level over the last two sessions under heavy bearish pressure. Previously, on June 30, Tron had met resistance at the 200-day SMA and dropped from $0.068 to its current levels. In the process, it managed to flip the 20-day SMA from support to resistance.

    Tron Price Volatility On The Rise

    Over the last two days, the Bollinger Band had started expanding to show increasing Tron price volatility. Along with that, the MACD indicates that the market momentum has reversed from green to red. All this tells us that TRX is likely going to drop soon.

    Image: TRX/USD daily

    TRX/USD daily chart 071621

    In the 4-hour Tron price chart, TRX has flashed two sell signals.

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

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 071621

    Tron Price Is Expected To Reach These Levels

    The $0.060 support is extremely important for the Tron price. If this line holds strong, the buyers should be able to retouch the 20-day SMA.

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