Tron Technical Analysis: TRX Flips Parabolic SAR To Negative

Daily TRON TRX Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • TRX drops towards the $0.50 psychological level.
  • Tron price is underpriced in the 4-hour timeframe.
  • Since July 5, the Tron price has dropped from $0.067 to $0.051 as it hurls towards the $0.050 psychological level. During this fall, TRX has reversed the parabolic SAR from positive to negative. Along with that, TRX has flipped the 20-day SMA from support to resistance. 

    Tron Price Under Heavy Bearish Pressure

    In the 1-day time frame, the Tron price has had two bearish sessions, during which it fell from $0.056 to $0.051. The MACD indicates sustained bearish market momentum. As things stand, TRX will likely drop below the $0.050 psychological level.

    Image: TRX/USD daily

    TRX/USD daily chart 072121

    In the 4-hour Tron price chart, TRX has flashed two buy signals.

    • Firstly, Tron has crept back inside the neutral zone from the oversold territory.
    • TRX has bounced up from the $0.050 support wall.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 072121

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely retest the $0.050 support wall. If the buyers don’t hold strong, TRX will likely break below this line.

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