Tron Technical Analysis: TRX Drops Below The $0.06 Psychological Level
Daily Tron TRX Price Analysis
- 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
In the four-hour Tron price chart, TRX has flashed three different sell signals:
- Tron has had five straight bearish sessions wherein it dropped from $0.068 to $0.0584
- The MACD shows increasing bearish market momentum.
- The parabolic SAR has shifted from positive to negative.
Image: TRX/USD 4-hour
Tron Price Is Expected To Reach These Levels
As things stand, the Tron price will probably drop to the $0.055 support wall.