Tron Technical Analysis: TRX Drops Below $0.060
Daily TRON TRX Price Forecast
- The MACD has reversed from bullish to bearish.
- Tron price flashed multiple sell signals in the 4-hour chart.
- The MACD shows sustained bearish market momentum.
- The parabolic SAR has flipped from positive to negative.
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
In the 4-hour Tron price chart, TRX has flashed two sell signals.
Image: TRX/USD 4-hour
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.