Tron Technical Analysis: TRX Drops Below Crucial Level

Daily Tron TRX Price Analysis

Last Updated July 23rd 2021
2 Min Read
  • Tron price crashed from $0.132 to $0.124.
  • The MACD in the 4-hour chart shows increasing bearish momentum.
  • Between April 26 and April 30, the Tron price rose from $0.102 to $0.132, gaining almost $0.030 in its overall valuation. After struggling to cross the 20-day SMA, TRX has been hovering between $0.132 to $0.126 from May 1 to May 3. Finally, the sellers took control this Wednesday.

    Tron Price Crashes By A Significant Amount

    The sellers took control of the Tron price today as it crashed from $0.132 to $0.124. In the process, TRX flipped the 20-day SMA from support to resistance. The relative strength index (RSI) tells us that TRX may fall some more before RSI enters the oversold zone.

    Image: TRX/USD daily

    TRX/USD daily chart 050521

    In the 4-hour Tron price chart, TRX has flashed multiple negative signals:

    • The parabolic SAR has flipped from positive to negative.
    • The MACD shows increasing bearish market momentum. 
    • The 50-bar and 200-bar SMAs have reversed from support to resistance.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 050521

    TRON Century Mining 5-in-1(Phase 3) Is Now Live

    The TRON Foundation recently announced the third phase of TRON Century Mining. The firm noted that TRON Century Mining has drawn worldwide attention due to its high accessibility and rewards. Notably, the total value locked (TVL) for the second phase for TRON Century Mining exceeded $5.8 billion, accounting for over two-fifths of the total value locked in the TRON DeFi ecosystem. 

    According to an official blog post,  those joining the TRON Century Mining now can earn the five mainstream TRON tokens TRX, BTT, JST, SUN, and WIN in one go. The Foundation invited all projects based on the TRON network to join the event.

    TRON Foundation said that it would provide a five-token gift pack of up to 50% of the project’s committed quota as a subsidy. TRON Century Mining will also include TRON Project Token Mining, where participants can also earn the same five token rewards from mining the project pools. In other words, participants can mine the five trading pairs for rewards, which would include select project tokens. 

    TRON Foundation, together with BitTorrent, JUST, SUN, WINk Foundation, will provide a subsidy in TRX, BTT, JST, SUN, and WIN (collectively known as the TRON Token Gift Pack) of up to $1,000,000 in value per day. This would be given on a first come first serve basis in accordance with project registration time. 

    The number of places in the program are limited. Here’s how you can register and participate

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely drop to the 50-day SMA ($0.11) if the buyers don’t step back into the market.

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