Tron Technical Analysis: TRX Flips Parabolic SAR To Negative
Daily TRON TRX Price Forecast
- TRX drops towards the $0.50 psychological level.
- Tron price is underpriced in the 4-hour timeframe.
- Firstly, Tron has crept back inside the neutral zone from the oversold territory.
- TRX has bounced up from the $0.050 support wall.
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
In the 4-hour Tron price chart, TRX has flashed two buy signals.
Image: TRX/USD 4-hour
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.