- TRON (TRX), at the time of writing the article, was trading at $0.0224, after having bottomed out at $0.0201, yesterday
- TRX/USD broke below the 90-day high price as there happens to be a “death crossover” and 200-day MA crosses above 50-day MA, on a half-hourly chart
- The 20-day Bollinger Bands project no volatility in the upcoming days
- However, we see a steep fall if looked collectively over the past 18 days, which has led the price to fall below 38.20% Fib Retracement Level
TRON price is on a continual downswing after hitting a fresh 90-day high at $0.0268 to marking a regression of over 24% in just three days and hitting bottom at $0.0201.
TRON Price Analysis
Analyzing the 2-hourly movement, we see that the TRX coin had a rising trend until the mid of the ongoing month, just when the bears became stronger. The free fall experienced in the past 5 days has led the TRON price to test support at $0.0201. Currently, the coin is seen trading with a slight momentum as it makes an intraday positive correction at $0.0224.
Taking a more emphasized view of the price trend over the past 4 days, since when the TRX coin is experiencing a fall and has also drawn a bearish crossover as the 200-day, MA crosses above 50-day MA. Also, the 20-day Bollinger Bands laid show a moderate opening and therefore, we do not project any unpredictable volatility in the upcoming days.
The MACD of Tron is holding a slight bullish divergence as it corrects upwards above the weekly bottom marked at $0.020.
Similarly, the RSI of the coin is seen rising at 56.14 towards the overbought zone, as the intraday positive corrections have led the price of TRX to gain pace.