Tron Technical Analysis: TRX In Control For Five Straight Bullish Sessions

Daily TRON TRX Price Forecast

Last Updated July 26th 2021
1 Min Read
  • TRX upward movement blocked by the 20-day SMA.
  • Tron price volatility has been going down.

Between July 5 and July 20, the Tron price crashed from $0.067 to $0.050, losing almost $0.020 in its overall valuation. During this drop, TRX flashed two sell signals:

  • Flipped the 20-day SMA from support to resistance
  • Reversed the parabolic SAR from positive to negative.

Buyers In Control Of Tron Price For Five Straight Days

After the Tron price bounced up from the $0.050 support wall and had five straight bullish days and is now hovering around $0.058. Due to this jump, the MACD has reversed from red to green, which is a very positive sign. However, the  Bollinger Band has also started narrowing to indicate that volatility is going down, so don’t expect any wild movements.

Image: TRX/USD daily

TRX/USD daily chart 072621

In the 4-hour Tron price chart, TRX has successfully reversed the parabolic SAR from negative to positive. The relative strength index (RSI) is hovering on the edge of the oversold zone. So, Tron could go up a little higher before it gets oversold.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 072621

Tron Price Is Expected To Reach These Levels

The Tron price must flip the 20-day SMA from resistance to support to touch the 50-day SMA.

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