Tron Technical Analysis: TRX Sits On Top Of $0.060 Support Wall

Last Updated July 23rd 2021
1 Min Read
  • Tron price volatility has been going down.
    • TRX flashes multiple sell signals in the 4-hour chart.

    The Tron price met resistance at the 200-day SMA on June 30 and has dropped to $0.060 and flipped the 20-day SMA from support to resistance. Prior to this, Tron climbed from $0.0507 to $0.068 between June 23 and June 29. 

     

    Tron Price Volatility Going Down

    As things stand, the Tron price is stuck between the 20-day SMA and the $0.060 support wall. The Bollinger Band has started narrowing to indicate decreasing price volatility. The relative strength index (RSI) shows that XRP could drop some more before getting underpriced.

    Image: TRX/USD daily

    trx/usd daily chart 071321

    In the 4-hour Tron price chart, TRX has flashed three sell signals:

    • Flipping the 20-bar SMA from support to resistance.
    • Reverse the MACD from green to red.
    • Flip the parabolic SAR from negative to positive.

    Image: TRX/USD 4-hour

    trx/usd 4-hour chart 071321

    Tron Price Is Expected To Reach These Levels

    The $0.060 support is extremely important for the Tron price. If this line holds strong, TRX will touch the 20-day SMA.

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