Tron Technical Analysis: TRX Drops Below $0.14
Daily Tron TRX Price Analysis
- Tron price has flipped the parabolic SAR from positive to negative.
- The MACD in the 4-hour chart shows sustained negative momentum.
Prior to the Friday drop, the Tron pricee had surged from $0.056 to $0.165 between March 26 to April 15, bouncing up from the 20-day SMA support. However, the bears took over this Friday and dropped the price down to $0.135.
Tron Price Drops By 18% Over Last 3 Days
Tron price dropped to an intraday low of $0.12, but the 20-day SMA prevented a further down trend. During this downward surge, the parabolic SAR reversed from bullish to bearish. However, the MACD still shows slight bullish momentum, so this situation may reverse soon.
Image: TRX/USD daily
The 4-hour Tron price chart is extremely bearish. As things stand, TRX has flipped the 20-bar and 50-bar SMAs from support to resistance and the MACD shows increasing bearish momentum. However, do note that the TD sequential detector is on the verge of flashing a buy signal in the form of the red-nine candlestick.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
The Tron price bulls will want to approach the $0.146 resistance barrier and break back into the $0.15 psychological zone.