Tron Technical Analysis: TRX Drops Below The $0.06 Psychological Level

Daily Tron TRX Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Tron price volatility is increasing slightly.
  • The RSI in the daily chart is about to enter the oversold zone.
  • Since June 8, the Tron price has been sandwiched between the 20-day and 200-day SMAs and has been hovering horizontally around $0.07. Prior to this, TRX has crashed from $0.0817 to $0.072 between June 4 and June 8, after encountering resistance at the 20-day SMA. Let’s take a closer look with technical analysis.

    Tron Price Flips 200-day SMA

    Over the last four days, the Tron price has crashed from $0.074 to $0.069, dropping below the 200-day SMA. The relative strength index (RSI) shows that TRX may drop a bit more before it becomes oversold. 

    Image: TRX/USD daily

    TRX/USD daily chart 062221

    In the four-hour Tron price chart, TRX has flashed three different sell signals:

    1. Tron has had five straight bearish sessions wherein it dropped from $0.068 to $0.0584
    2. The MACD shows increasing bearish market momentum.
    3. The parabolic SAR has shifted from positive to negative.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 062221

    Tron Price Is Expected To Reach These Levels

    As things stand, the Tron price will probably drop to the $0.055 support wall.