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- 1 TRON crypto price is currently trading at $0.07763517 with a rise of 0.38% in the last 24 hours and a current market cap of $6.922 Billion (press time).
- 2 TRXUSD price prediction indicates that the TRX token is presently making a recovery from the lower levels.
TRON price prediction suggests that the crypto is attempting to make a bullish recovery. The price of TRX is trying to reverse the trend from the current levels. However, the RSI and MACD are giving signs of a reversal.
TRX stock price faced difficulty in surpassing the 50 SMA resistance point and remains confined beneath it. Currently, TRX shares require an influx of buyers to drive an upward movement toward recovery. Nevertheless, there’s an observed low trading volume.
Technical Analysis of TRON crypto price in 1-D Timeframe
TRON (USD: TRX) price has risen steadily over the past three months, gaining 11.91%. It gained 1.13% the last week. Currently, TRX crypto is trading at $0.07765312 and has been trying to hold and bounce back to this level after an unexpected drop in price.
If it can maintain this level, TRON price could continue to go up and reach the first and second targets of $0.09 and $0.102 respectively. Otherwise, it might hit the closest support levels of $0.071 and $0.063, respectively.
Currently, TRON crypto(USD: TRX) is trading between the 50 and 200-day smple moving averages which are supporting the price momentum at the moment.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and make new highs. Hence, TRON price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 46.88 points. The 14 SMA is above the median line at 43.97 points which indicates that the TRON crypto is bullish.
The MACD line at -0.00068881 and the signal line at 0.00040836 are above the zero line. The bearish crossover in the MACD signals weakness in momentum.
Summary
TRON (USD: TRX) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the TRX crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment.
Technical Levels
- Support Levels: Nearest support levels are $0.071 and $0.063.
- Resistance Levels: Nearest resistance levels are $0.09 and $0.102.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
