Tron Technical Analysis: TRX Has Three Straight Bearish Sessions

Daily Tron TRX Price Analysis

Last Updated July 23rd 2021
2 Min Read
  • The Bollinger Band shows increasing Tron price volatility.
  • The 4-hour chart flashes red-nine in the TD sequential detector.
  • Between April 26 and May 6, the Tron price rose from $0.102 to $0.152, gaining almost $0.050 in its overall valuation. Since then, TRX has had three straight red candlesticks during which it dropped to $0.140.

    Tron Price Volatility On The Rise

    Over the last three days, the Tron price reached an intraday high of $0.177, since then the sellers took over and dropped the price down. The Bollinger band has started expanding, which shows increasing volatility. The MACD shows sustained bullish market momentum, despite this TRX price drop.

    Image: TRX/USD daily

    TRX/USD daily chart 051021

    In the 4-hour Tron price chart, TRX crashed from $0.16 to $0.14, wherein it flipped the 20-day SMA from support to resistance. The second last candlestick has flashed the buy signal in the form of a red-nine candlestick which should usher in the buyers into the market.

    Image: TRX/USD 4-hour

    TRX/USD 4-hour chart 051021

    Klever Swap - TRON’s Oracle System

    Klever Swap, a core service of the Klever crypto wallet app, recently listed the token of Bridge Oracle (BRG), the first public oracle system built on the TRON network. The listing comprises eight direct trading pairs as part of the expansion of Klever Swap’s list of existing markets for instant swap from ETH, TRX, and BSC blockchains.

    Bridge Oracle is a public oracle system on TRON and Binance Smart Chain (BSC) and is developed to provide access to off-chain resources within blockchain protocols.

    When using Bridge Oracle, smart contracts developers can infuse real-world data into their smart contracts. This would create real-world connected dApps and DAOs. Bridge Oracle has also built a token bridge system from the TRON network to Binance Smart Chain. 

    Within the Klever (KLV) app, Klever Swap allows users to exchange cryptocurrencies within seconds. By monitoring live price action on top-tier exchanges, the app’s native swap engine creates a price index that is used by the swap. 

    Autonomous bots conduct the swap, and these bots are built and maintained in-house by Klever’s developer team. These bots continuously seek the best exchange rate and prices among the top exchanges to execute the swap with high precision, security and speed. Klever Swap project is part of the upcoming Klever Exchange.

    Tron Price Is Expected To Reach These Levels

    The Tron price will likely drop to the 20-day SMA ($0.127) if the current bearish sentiment continues.

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