Tron Technical Analysis: TRX Sits On Top Of $0.060 Support Wall
- Tron price volatility has been going down.
- TRX flashes multiple sell signals in the 4-hour chart.
- Flipping the 20-bar SMA from support to resistance.
- Reverse the MACD from green to red.
- Flip the parabolic SAR from negative to positive.
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
In the 4-hour Tron price chart, TRX has flashed three sell signals:
Image: TRX/USD 4-hour
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.