TRON Price Analysis: TRX/USD can’t break above triangle formation, consolidates around $0.0116 level instead

• The MACD is on the verge of reversing from bearish to bullish.
• The RSI is trending horizontally around 41, while the Elliott Oscillator has gone up from -0.007 to -0.005 over the last four days.

TRX/USD daily chart

TRX/USD couldn’t break past the downward trending line and went down slightly from $0.0117 to $0.0116. This followed a bullish Thursday wherein the price jumped from $0.0102 to $0.0117. TRX/USD is hovering below the red Ichimoku cloud, SMA 20, SMA 50 and SMA 200. The RSI is trending horizontally around 41, while the Elliott Oscillator has gone up from -0.007 to -0.005 over the last four days. Finally, the MACD is on the verge of reversing its momentum from bearish to bullish.